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I have a $55k credit for a weekend that came in through square. I have to pay the organization 40% of my gross, or $22k. How do I manually enter that into quickbooks?

 
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Re: I have a $55k credit for a weekend that came in through square. I have to pay the organization 40% of my gross, or $22k. How do I manually enter that into quickbooks?

What is the "Organization" and is it in any way part of your business?  Or are they just a Vendor you need to write a check to as an expense?  And why do they get 40%?, was this some sort of booth or exhibit space?  A little more info would help in determining how to best enter the payment.

 

If they really are just a Vendor, then pay them like any other Vendor with a check (ACH or other).  If you don't already have an Expense account that would cover this type of payment, create one or a sub-category of an existing one that makes sense.   (e.g.  If it was a booth, create something like:  Exhibit Space or whatever you want to call it.)

 

I'd also add a Memo so I didn't have to go back and figure out why it was that amount.  Something like:  40% of 12/1-2 Sales ($55,000.) 

 

And the check shows payment.....   But I'd sure get a receipt from this "Organization" that shows Payment in Full or an invoice that shows the same $ amount as your check.