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Level 1

Best way to book batch sales as unearned revenue with associated fees



I have a client that sells insurance policies and uses a 3rd party to process the sales and manage the monthly payments from clients. On a weekly basis my client gets paid upfront from the 3rd party for the policies sold. Of the sales the 3rd party holds back a portion of each sale in a reserve fund and charges a fee for each policy sold. The weekly report shows the total sales, the portion of sales that went to the reserve, the 3rd party fee, and any chargebacks/cancellations. I am trying to figure out the best way to book the weekly batch sales. Since the client is on accrual basis I need to book the cash received and then the sales to an unearned revenue account and book monthly adjusting entries for the revenue and associated expenses earned each month. It seems like a journal entry each week would be the simplest way to books this with all the miscellaneous pieces but it would be nice if I could use the sales receipt function. Any suggestions on the cleanest and most efficient way to enter this into quickbooks? A sample of a weekly JE for the batch sales would look like with all the pieces is attached.



2 Comments 2
QuickBooks Team

Best way to book batch sales as unearned revenue with associated fees

It's good to see you here in the Community, LW222.


I'd like to share some insights about entering data from third-party app to QuickBooks Online.


When using a third-party application, you can go directly to QuickBooks App Store website. From there, you can check if the app can be integrated with QuickBooks Online.


You may also access it inside your QuickBooks Online account.


Like this:


  1. Log in to your QuickBooks Online account.
  2. Go to Apps menu in the left pane.
  3. Search for the name of the third-party app.


If you're able to see the app, you can check the details and learn how it works with QuickBooks. Otherwise, if the app is not supported, I recommend contacting the third-party app support for further assistance.


You may also consider uploading transactions manually into QuickBooks Online.


Get back to me if you still have any follow up questions about it. I'll keep an eye for your response. Have a nice day!​​​​​​​

Level 2

Best way to book batch sales as unearned revenue with associated fees

Good Work

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