How to account for deductions pre bank depositing income?
Hello! I have my own business that is housed under a larger entity and some of my expenses are deducted before they issue me the money I made from business that pay period. I'm struggling to figure out how to track those deductions.
Additionally, I would love to be able to split the bank deposit transaction into several categories but because of these deductions, the number won't equal the total amount deposited.
Does this make any sense? Does anyone have experience with this sort of situation and could advise? Thank you!
Thank you so much. I got the receipt itemization part but I'm still stuck on getting the deductions into an account. I've added the account names in the chart of accounts but how do assign the deduction amounts to that account?