Skip to main content
E
Ewano
December 13, 2021
Question

We receive client's sales income deduct our fee and pay on the remainder - how best to post this

  • December 13, 2021
  • 1 reply
  • 0 views

We sell goods on behalf of clients and receive the full value of goods sold. These are not our funds we just receive the funds and pass them on to the client. We do though deduct our service invoice amount from these funds before passing on the remainder. Can you suggest the best way to post this in order to allocate payment against the correct invoice and client repayment?

Thanks

1 reply

A
Ashleigh1
December 13, 2021

Hello Ewano, 

 

Welcome to the Community page, 

 

What you could do is create the customer that you send the money to. 

 

Create a deposit to that customer/debtor and then create a journal from the debtors to the expense account and then either add another two lines on the journal relating to when you send the remainder to the customer, the other two lines should be the debtors account and the name in the name field and the bank account or create an expense from the debtors instead of the additional lines. 

 

If you are not sure still on how to do it we would advise you speak to a trained and qualified accountant who would be able to help and guide you to enter this into your quickbooks account. 

Terms & ConditionsAccessibility statement