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Agustin Bax
November 18, 2024
Question

income

  • November 18, 2024
  • 1 reply
  • 0 views

Hello everyone!

 

I have a restaurant and I have connected the bank account where I receive my income.

I have EZ Catering as a catering service and when I get deposited I only see the final number. In this case it is: $192.28

 

But all this corresponds to:

Food Total: $257.30
+ Delivery Fees: $30
+ Sales Tax: $3.08
- Commission: $43.10
- Payment Transaction Fee: -$8.68
- Marketing: $46.32

Paid by EzCater: $192.28

 

How should I do the split when I view the deposit in QuickBooks? Under which accounts should I enter each item?

I share the screenshot.

Thank you very much !

1 reply

DrandCr
DrandCr
November 19, 2024

Hello, 

 

As you mentioned the amount hitting the bank account does provide full details of the sale so we beed to enter the rest of the details as a Journal entry ( A single entry per month will do, i assume you will be able to get similar details about all orders from ezCater on monthly basis). 

 

Steps:

1, When the deposit shows up in the bank account, categorise it to a current asset account eg : ezCater receivable

2, When you get split of all orders in the month end, record a JE  as attached ( This should help you to record the income and expenses side of the sale correctly). 

 

Hope this helps, Do let me know if you have any questions. 

 

 

Pai 

Bookkeeper

 

 

 

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