Let me show you how to track the commission, propertyteamuk.
You're doing it right by invoicing your agents. The next thing we need to do is to record the full payment on the invoice to the Undeposited funds' account. Then, we can deduct the agent's fee when we deposit the funds.
You can follow these steps:
- Go to the + New button and select the Bank deposit.
- Select the Account the money was received to and the date
- Locate and tick the invoice payment.
- From the Add funds to this deposit section, select an expense account, and enter the commission with a minus figure (-100).
- Click Save and close.
Once done, you'll see that the deposited funds should now show the full invoice amount minus the commission. I've added this article if you need help in categorizing and matching online bank transactions in QuickBooks Online.
Leave a reply if you have other questions. Have a great day!
