I understand my question might be confusing, so I am going to have to explain a little....
I run a service oriented website with a list of "Consultants" that you can speak to by phone at a price per minute.
The call-center that provides the telecommunications service receives the payments from the paying customers. At the end of the month, they send me a report showing the amount of money that was received -minus- their processing fees, therefore the amount that I should invoice them.
I pay the Consultants at an agreed-upon rate per minute.
So basically, my vendor (providing this service) is also my customer (they are paying me).
They do not send me any invoices, just a statement showing my profit. Then I invoice them for the profit amount.
So, a couple issues appear in my mind, for example:
1. their processing fees are a "cost" (in reality), a Cost Of Sales (directly dependent on the amount of "sales" made). However, I don't have any "transactions" (invoices or payments) that will show this; just a statement at the end of the month. How/Should I deal with this?
2. sometimes, for special situations, I do receive an invoice from them for special service requests, so here I can classify them as a Vendor and COS. But if I would then generate a Profit/Loss statement, the values would not be correct because the only Costs that would be considered are the ones I have invoices for and the "processing fees" would not be considered.
How am I to manage this type of situation in QB? Am I missing something?
Thanks.
