Skip to main content
October 26, 2022
Question

How to record court fee expense

  • October 26, 2022
  • 1 reply
  • 0 views

I own a Motor Title Transfer company. When my clients pay they leave the court fees for the title transfer and my fees for my services how do I record it in QuickBooks?
For example clients paid $320 for title transfer + $170 my fees = $490 but out that I am left with only $170 since the rest is paid when the transaction is completed with the court

1 reply

Rustler
October 26, 2022

What you pay is an expense, what the customer pays you is income

 

on the P&L income is reduced by expense to get net profit.  Net profit is what is taxable