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Youwish
Level 1

How to Record Commision

We run a business (Similar to just eat) where we pay an outlet on a weekly basis, but we take our commission. 

 

Each week we raise an invoice which shows the total they are owed, for reference sake they are owed £100 but we are charging £8 commission, the outgoing transaction therefore shows £92 outgoing.

 

How do we record in QuickBooks that we have taken £8.

3 REPLIES 3
GeorgiaC
QuickBooks Team

How to Record Commision

Hi Youwish, thanks for your post - you can enter an additional line on the invoice to subtract the commission by entering the amount with a negative symbol (e.g. - 8.00). Do you require the commission to post to an income account? 

Youwish
Level 1

How to Record Commision

The invoices are external, not created via quickbooks so all we have on the bookkeeping is a single amount (which has that -£8 already off)

MaryLandT
Moderator

How to Record Commision

Hello there, Youwish.

 

I want to make sure you're able to record the commission and ensure only the single amount is shown in QuickBooks. Let's start by creating an invoice for the £92 amount, then record the payment to zero out the balance.

 

Here's how:

 

  1. Click New, then Invoice.
  2. From the Customer ▼ dropdown, select a customer. Make sure all of their info is correct, especially their email address.
  3. Review the Invoice date.
  4. From the Product/Service column, select a product or service. You can also select +Add new to create a new product or service right from the invoice.
  5. Enter a QuantityRate, and Amount if needed.
  6. When you’re done, click Save.
  7. After recording the invoice, use the Receive payment option to record the payment.

 

To keep track of who's falling behind their payments, how much is still due, and how long they’re past due, you may run Ageing reports. This gives you an overview of customers' outstanding balances as well.

 

I'm just around the corner if you still need more help when working in QuickBooks. I want to make sure that everything is sorted out. Take care and have a great day!

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