I own a small service co. Rec'd $100 check from client ($80 covers balance. $20 is a tip). How do I log this so $80 covers their balance but bank deposit is correct?
I own a small service co. Rec'd $100 check from client ($80 covers balance. $20 is a tip). How do I log this so $80 covers their balance but bank deposit is correct?
Tips/gifts I may get are easy if client writes a separate check. Problem is that when I log their account for Payment rec'd, it should show $80 towards balance owed. But bank deposit shows $100. What other entry should I make?
I own a small service co. Rec'd $100 check from client ($80 covers balance. $20 is a tip). How do I log this so $80 covers their balance but bank deposit is correct?
receive the 80 against the invoice, then in make deposits add a line using the tip income account and enter 20.
Or you could create a service type item called tips which is linked to the tip income account and add it to the invoice, then receive the full amount. I prefer to do it this way since it associates the tip with the customer
I own a small service co. Rec'd $100 check from client ($80 covers balance. $20 is a tip). How do I log this so $80 covers their balance but bank deposit is correct?
receive the 80 against the invoice, then in make deposits add a line using the tip income account and enter 20.
Or you could create a service type item called tips which is linked to the tip income account and add it to the invoice, then receive the full amount. I prefer to do it this way since it associates the tip with the customer
I own a small service co. Rec'd $100 check from client ($80 covers balance. $20 is a tip). How do I log this so $80 covers their balance but bank deposit is correct?
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