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Diane18
September 8, 2021
Question

Holdback Fees

  • September 8, 2021
  • 1 reply
  • 0 views

How do I invoice a customer when I have to provide them with a 10% holdback fee?  I put the full amount on the invoice, then I subtract a "Holdback" I set up in the Item List which subtracts the 10% from the subtotal.  So now the bottom line on the invoice is not 100% of what they owe us.  They paid the bottom line so the invoice is paid off.  Now they've paid the holdback fee.  How do I record that?  I don't have an invoice with that amount on it.  According to QB, the invoice is paid in full. 

1 reply

J
JamesM4
September 8, 2021

Hi Diane18,

 

Glad to hear from you again. I trust that business is going well on your end. I'll be glad to steer you in the right direction so you can focus on doing the things you enjoy. 

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get more info on recording the holdback fee. Doing this will help prevent any future discrepancies in your books. You can also reach out to accounting professionals on our site using this link here.

 

I'll also leave this question here so other accounting professional members can chime in and share their expert advice. Let me know if you have other questions, I'm here to help.

 

 

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