Question
Can expenses be linked to invoices and bank transactions simultaneously?
I have incoming payments from a company, but they also charges fees. They deduct their fees from the payment, but I still have to report the entire gross earnings before their deductions, then also have to detail their fees charged and the GST associated with the fees.
So I have created invoices for the gross earnings, and expenses for their fees/GST. But when linking the payments from the imported bank transactions, I can only link them to the invoices and not the expenses. So the invoices show balances owing, and the expenses show outstanding. If I can link each expense to the associated invoices, then both overall balances will be nil.
So I have created invoices for the gross earnings, and expenses for their fees/GST. But when linking the payments from the imported bank transactions, I can only link them to the invoices and not the expenses. So the invoices show balances owing, and the expenses show outstanding. If I can link each expense to the associated invoices, then both overall balances will be nil.