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Hi Tony
I use QBO with clients that are Contractors - I've set up QBs with Product/Service codes for Labour (COS), Materials (COS), VAT (COS because my client is on FRS VAT) and CIS deducted (Liability acc). I use these on the SubContractors bills. I've then set up 2 customised reports that show me, at the click of a button, what to enter on the HMRC monthly Return. I also use the 'Class' option and class all subcontractor product codes on the bills to either 'unpaid' or one of the 'paid 6th xxx to 5th xxx' month classes, which works beautifully with the reports already mentioned.
It takes a short while to set up, but once done, provides quick, relevant info. I love QuickBooks Online, it's improved so much in the last few months that it really is, in my opinion, the leader.
I also use Moneysoft to produce the CIS subcontractor certificates and attach a copy to the bill in QuickBooks, along with a copy of the submission to HMRC - it all helps for the accountant to understand all, the client to understand all, and most of all, us to understand all.
If you need any more info, feel free to contact me
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