I own an Employee Relocation Company. As part of the relocation process, we collect referral fees from realtors when a relocating employee buys or sells a home. (This is our largest revenue source).
Realtors are technically vendors, but in our industry the pay us (for sending them leads. these are called "referral fees"), instead of us paying them in a traditional vendor relationship.
In our current QB set up we have the real estate brokerages (like Coldwell Banker) set up as client (because they are who owe us the payment on the invoice we create in our system, to track the referral fees due to us, due at closing).
The "client" is really the company that we have a contract with (like Amazon, not the realtor, Coldwell Banker...) The customer (in our world) is the transferee (Mr. Smith). Coldwell Banker is really a vendor (but they are paying us)....
The issue we have created is we can't track all of the revenue we are making on the client account (i.e. "How much do we make on the Amazon contract?"). The other services like shipping household goods, temp housing etc are all more straightforward in a traditional vendor relationship. But referral fees from realtors are throwing us through a loop...
How do we: 1) Create an invoice (to track referral fees due) 2) Have it show under the client account (Amazon) but not on an AR Aging Report (as Amazon doesn't owe us the money....) 3) at the same time - we also need to track how much money each brokerage pays us....
Do we show as a negative payment to a vendor? (i.e. money to us)?
Appreciate the help and advise!
