If i have a bill for a letting agency, and they take off the amount owed to them off what they send me how do i pay this off on the bills as i am unable to contra?
Hi irene-mfpml
We suggest that you create the Sales receipt and receive the amount to the undeposied funds account rather than your bank account. Create a bank deposit, the account section should be the bank account that the net amount was received and also the date.
In the Add funds to this deposits section in the account column select/create a fee/expense account and in the amount column enter a minus figure for the fee that was taken. The deposit will now show the net amount received, save and close.
If i have a bill for a letting agency, and they take off the amount owed to them off what they send me how do i pay this off on the bills as i am unable to contra?
So if I read this right, the letting agency sends you a check less their commission/fee
Create a service item which is linked to the commission/fee expense account
then use a sales receipt
line one, your income item for the rent and the full amount paid
line two, use the service item for the commission/fee, qty is negative one, and enter the amount of the fee
the sale receipt will net to the amount received, and the expense will be posted
If i have a bill for a letting agency, and they take off the amount owed to them off what they send me how do i pay this off on the bills as i am unable to contra?
Hi irene-mfpml
We suggest that you create the Sales receipt and receive the amount to the undeposied funds account rather than your bank account. Create a bank deposit, the account section should be the bank account that the net amount was received and also the date.
In the Add funds to this deposits section in the account column select/create a fee/expense account and in the amount column enter a minus figure for the fee that was taken. The deposit will now show the net amount received, save and close.
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