Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Questions about how to close your books for 2020? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 1

Where do I input/keep record of my sales commissions received/paid ?

Keeping a record of my paid commissions from my company
1 Comment
QuickBooks Team

Where do I input/keep record of my sales commissions received/paid ?

Hi there, @usercyndesigner.

 

You can record the sales commission on a journal entry and then place the withholding rate to a clearing account. That said, it will allow you to reconcile your bank statement.

 

Before creating a journal entry, make sure to consult your accountant for the process of what accounts to debit and credit for the amounts.

 

Here's how to create a clearing account:

  1. Go to Accounting on the left-side panel.
  2. Select Chart of Accounts.
  3. On the Chart of Accounts screen, click the New tab.
  4. Choose Bank for the Account Type. You may choose any detail type you want for your clearing account.
  5. Type in the Name for the clearing account.
  6. Make sure to leave the account balance as blank before clicking Save and Close.

 

For reference and details on how to make and use the journal entry feature, you can check this article: Create a journal entry in QuickBooks Online.

 

Please let me know if you have further questions or concerns. I'll be here to help you every step of the way. You can always reach out to the Community or me anytime you need assistance. Take care and have a great rest of your week!

Need to get in touch?

Contact us