I received a net check from a realtor after the commission has been deducted for rental property that I own. How do I handle this transaction on QB. ?

I'll help you record these transactions in QuickBooks Online, csw3main.

You can record a deposit and create an invoice and enter the Gross commission and Costs deduction. To do this, you can follow the steps below:

To record a bank deposit:

1. Select + New.
2. Select Bank Deposit.
3. From the Account ▼ dropdown, choose the account you want to put the money into.
4. Select the checkbox for each transaction if you want to combine them.
5. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
6. Select Save and close or Save and new.

To create an invoice:

1. Click + New and 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. Then from the Terms ▼ dropdown, select the due date. Tip: Net refers to the number of days until the payment is due. The default is 30 days, but you can change the due date if needed.
4. From the Product/Service column, add Gross Commission by selecting +Add new to create a new product or service right from the invoice. Then, add Cost Deduction on the second line with a negative amount.

After that, you can link the deposit to the invoice. 

To record the installments, you can create a progress invoicing feature in QuickBooks Online.

Additionally, I'd recommend reconciling your accounts every month. This is to effectively monitor your income, expenses, and the growth of your business. For the step-by-step guide, you can check out this article: Reconcile an account in QuickBooks Online. 

Let me know if you have other concerns or follow-up inquiries about managing transactions. I'm just around to help. Take care always.

@CharleneMaeF, he can't add a deduction item on the sales transaction because that will reduce the gross sales. The invoice should show the gross total because that will be reported for sales tax. Try a different answer.

I tried creating a negative amount on the invoice and it accept a negative number in the amount field as an expense.  It will not accept a negative value.  Also remember my sales amount must reflect the gross sales and not the net sales value.  Let me try recording the gross

1.sales: Rec/Sales = 3,500

2, Deposit: Cash:          1,540

                  Commission   210

                   Rec                         1,750 (Is there anyway to link this transaction to my Receivable thereby reducing my outstanding receivable balance to 1,750)

This would record the gross sales, record the expense and the proper receivable balance.

I appreciate you getting back and providing additional information about your concern, @csw3main. 

We can record a deposit for the cash received and enter the commission as a negative amount. Then, account it to Accounts Receivable. 

To do this, here's how:

1. In the left menu, click the + New button.
2. Select Bank Deposit. 
3. On the Bank Deposit page, select an Account and enter the Date.
4. Go to the Add funds to this deposit section.
5. On the 1st line item, select the customer on the Received from the column. Then, choose Accounts Receivable, enter Description like Cash and set the amount as 1,540.
6. On the 2nd line item, select the customer on the Received from the column. Then, choose Accounts Receivable, enter Description like Commission and set the amount as -210.
7. Select Save and close.

Or enter the commission as a negative on the invoice and only record cash received on the deposit. Let me show you:

1. In the left menu, click the + New button.
2. Select Invoice.
3. Choose a customer from the drop-down menu.
4. Enter Sales on the 1st line item as 3,500.
5. On the 2nd line item, enter Commission as -210.
6. Enter the other necessary information.
7. Select Save and close.

After that, receive the payment for the 1,750, so the invoice will be closed.

But since every business is unique, I recommend consulting an accountant before following the steps above to ensure the accuracy of your books. But if you don't have one, you may use our Find an Accountant tool. 

To help you receive customer payments, here's an article you can read: Record invoice payments in QuickBooks Online.

For future help, see the links below that will guide you on how to handle customer-related activities such as creating invoices, managing payments, customizing sales forms, and processing credit or refunds:

• Invoices and payments
• Sales and customers

Feel free to reach back out if you have any clarifications or questions on managing transactions in QuickBooks Online. I’ll be around to assist further. Have a good one.

@MirriamM, like what I've said, we can't deduct anything on the sale because the poster repeatedly said they need to show the gross sales amount.

@csw3main, all right.

Create an invoice $3500 and pay it partially $1750. The Deposit to field of the payment must be set to undeposited funds.

Deposit the $1750 to your bank and add another line for the commision with -$210, leaving you a net deposit of $1540.

Do the same thing to the other payment.