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Nehock
Level 1

Vendor Commissions

We are a manufactering rep and receive commissions from our vendors when our customers order direct from our vendors; what is the proper way to record that in qbd? We also recieve buy/resell orders as well and track inventory. 

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Best answer December 30, 2017

Best Answers
Rustler
Level 15

Vendor Commissions


@Nehock wrote:

How would I keep track of the commission owed to me if I just do a sales receipt when the commission check comes in?


Well see you didn't mention that you wanted to do that <smile>

to do that you need some items

a sales item that links to income
as sales item that links to the sales dicount income account

 

line one, list the sales item and the full amount

line two, list the sales dicount item ...

and here it gets screwy in QB

 

Let's say you get a 10% commission, as the rate for the sales discount item enter a negative .90  (-0.90) ... then on the sales receipt where you use this item enter the total sales amount as the QTY, save

when you get the commission check, receive the payment against this invoice.

View solution in original post

4 Comments
Rustler
Level 15

Vendor Commissions

The easiest way is to create an income account commission income, and a service item named the same which is linked to that income account

 

When you get the commission check, use a sales receipt and the commission income item to record the receipt

Nehock
Level 1

Vendor Commissions

How would I keep track of the commission owed to me if I just do a sales receipt when the commission check comes in?

vpcontroller
Level 11

Vendor Commissions

When you create a sales receipt, instead of using the deposit to the bank account, you can also create/use commission due from as other current assets type account. when you receive a separate commission check payment, apply to that account.

Rustler
Level 15

Vendor Commissions


@Nehock wrote:

How would I keep track of the commission owed to me if I just do a sales receipt when the commission check comes in?


Well see you didn't mention that you wanted to do that <smile>

to do that you need some items

a sales item that links to income
as sales item that links to the sales dicount income account

 

line one, list the sales item and the full amount

line two, list the sales dicount item ...

and here it gets screwy in QB

 

Let's say you get a 10% commission, as the rate for the sales discount item enter a negative .90  (-0.90) ... then on the sales receipt where you use this item enter the total sales amount as the QTY, save

when you get the commission check, receive the payment against this invoice.

View solution in original post

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