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HOW DO I PAY THE SUPPLIER 95% OF THE BILL AND THE REST 5% DEBIT HIM BECAUSE IS A FEE
I can assist you with paying 95% of the bill and debiting the 5% fee to your supplier, Zeldy.
We can create the fee as a vendor credit, which will allow us to allocate the 95% as bill payment while deducting the 5% from the total amount. Please know that you'll need to manually calculate the equivalent amounts of the percentages. Follow the steps below:
Once done, reopen the bill and click Mark as paid. On the Bill payment page, locate the bill and vendor credit. I'm adding some screenshots below for your reference:
Here's an article about different methods to record a vendor repayment or credit: Enter vendor credits and refunds in QuickBooks Online.
Furthermore, you may explore this page to learn what more you can do with suppliers: Expenses and vendors.
Don't hesitate to comment below if you have additional questions about handling bill payments. I'm always here to address your concerns. Take care.
Why do you need to debit 5%? Is it a fee for you payment processor or your commission?
Hi its a commission not a fee
from that payment our company is going to received a 5% commission
Thanks
Hi there, Zeldy.
I can provide additional options where you pay 95% of the bill and debit a 5% commission to your company, Zeldy.
To ensure accurate commission accounting, create a designated income account for commissions. Then, generate a Journal entry that debits Accounts Payable and credits the commission income account you've created.
After completing the Journal entry, create an expense transaction that links to the journal entry and the bill. Doing this will apply the bill payment for only 95% of the total amount and maintain proper financial records.
I would also recommend consulting with your accountant for other options so they can offer expert guidance and ensure that your commission accounting and related transactions are handled accurately and in compliance with relevant regulations.
Moreover, I'll share this article that might be helpful for you in reviewing your bills, payments, and other entries through reports, in case you need it in the future: Run reports in QuickBooks Online.
If you require additional help managing your bills or any concerns, post the details below. I am available to assist you.
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