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August 29, 2022
Question

referral fee

  • August 29, 2022
  • 1 reply
  • 0 views

Hi,

 

I am using Quickbooks Self Employed and need a way to record referral fees I pay on some of my income.

 

I invoice a client and receive payment in full. I then pay a percentage out as a referral fee.

 

How do I account for this please?

 

Thanks

1 reply

MJoy_D
August 29, 2022

I can help you with recording this referral fee transaction, @jensmoonlight-ho.

 

You can account for this using one of our Schedule C categories in QuickBooks Self-Employed. I suggest consulting an accountant for guidance on the best category to use. They are the ones who can advise you on which one is best suited to your transactions. 

 

Here's how:

 

  1. Go to the Transactions menu and click on the Add transaction button.
  2. Provide all the necessary information like the date, transaction description, amount, type, category, notes, and receipt.
  3. Click on Save.

 

Or categorize this transaction right away if the bank is connected to your QBSE account from your Transactions page.

 

Check out these articles for detailed guidance on how to add transactions and learn about Schedule C categories and how categorize transactions to your QBSE account: 

 

 

After adding your transactions to QBSE, see the following article on how we estimate your federal tax payments: Automatically estimate your income tax in QuickBooks Self-Employed.

 

Let me know if you need further help with recording your transactions to QBSE. Let me know in the Reply section below. Have a great rest of the day!