How do I categorize payment from a client if some has to go to a vendor? It is not all income as some of the total will be paid out
Hi there, @greenvelvetconcierge!
Let me share a few insights about how you can categorize the payments you received. But I still recommend contacting your accountant for further advice in handling this type of payments.
Nevertheless, Income is your profit and this is what you've earned or received in a period. While Expense is your loss and this is the costs for items or resources you used up or consumed.
In addition, you have the option to pull your Profit and Loss report. With this, you can view and review your total or actual income and/or expenses for the period.
Please let me know if you have any other questions. I'll be always around to help.