Hello!
We are new to QBO and looking for some answers.
We are a trucking company that contracts through another company (Lets call them XYZ Logistics).
XYZ Logistics charges us a 30% dispatching fee and insurance each week. These two expenses are taken out before we are paid. A typical weeks worth of work would look like this:
| Revenue of Truck | 3,985.00 |
| Dispatching Fee | (1,195.50) |
| Insurance | (175.00) |
| Net | 2614.50 |
What we need help with is how to properly record this in QBO. We initially just recorded the net payment as sales, but that doesn't feel right since we actually earned $3,985. I then had the idea to create an invoice for the $3,985 but then once I match the direct deposit payment of $2,614.50 it still leaves an unpaid balance (dispatching fee and insurance). How do I account for those two items if I am using an invoice to properly track the sales? Thanks in advance for any help.
