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Tkman
July 25, 2021
Question

Tips and gratuities given to owner

  • July 25, 2021
  • 1 reply
  • 0 views

How do you record a tip given by a 'non-customer' to a shareholder/owner?

I recently completed a job for a company and after completing the job the company's client gave me a tip for the work that was performed. Wondering how to account for this in QBO as owner/operator. 

 

1 reply

Noelia Nievas
Noelia Nievas
July 26, 2021

Hi @Tkman  

 

thank you for reaching out to the community. It is a great place to get assistance in anyway possible.

 

Knowing which accounts are affected from a transactions is very important. As putting amounts into the wrong accounts can unfortunately cause discrepencies.

 

Because this transaction falls into accounting territory, it's best to reach out to your accountant to make sure all the appropriate accounts are adjusted as they are trained on how to do this. If you don't have an accountant no need to worry, we can help. You can go to My Accountant>Find a pro to help to find an accountant in your area.

Noelia

 

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