Skip to main content
D
DG144
December 20, 2022
Solved

Real estate commission

  • December 20, 2022
  • 1 reply
  • 0 views

Hi - I'm a real estate agent, affiliated with a large real estate brokerage.  Let's say my real estate broker receives a $100 commission check that I earned for the brokerage, and then pays me $90.   In quickbooks, do I record $100 commission income (because that was the amount of the entire commission) and $10 commission expense (because that's how much I owed the brokerage), netting $90?   OR - do I simply record the $90 commission received from the brokerage  Thank you.

Best answer by Rainflurry

@DG144 

 

You record just the $90 as income.  If you received $100 and then paid your broker their split of $10, you would record the $100 as income and $10 in expense. 

1 reply

Rainflurry
RainflurryAnswer
December 21, 2022

@DG144 

 

You record just the $90 as income.  If you received $100 and then paid your broker their split of $10, you would record the $100 as income and $10 in expense. 

D
DG144Author
December 21, 2022

Thanks so much, @Rainflurry     That makes sense, and what I was expecting.   (I suppose I was trying to find an easy way to track how much I "don't" receive...because my brokerage gets x amount of each transaction!)  Thanks again!
 

Terms & ConditionsAccessibility statement