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Emma4u
Level 1

Loan Payment from Commission & Salary

My sales man made a shortage of about $2,290. He needs to pay back so we turned it into a loan to be paid back in installment for 6 months. He will pay $200 from his salary and $150 from his sales commission. I don't use Quick Books Payroll. How do i set the necessary accounts and record this transaction for the first payment this month. Thank you

1 Comment
Rustler
Level 15

Loan Payment from Commission & Salary

Since you don't explain how he made the shortage or what account it is in, that makes it hard

clear the shortage and post it to an asset account you create called due-from-[name]

 

When you make his paycheck, put a line item on there: due from account and the amount of the payment as a negative number

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