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Level 2

Realtor commissions and fees

I need to charge a realtor their monthly fees.  They want me to deduct the fees from their next commission check.  What's the process to do so?  Not sure if I should create an Invoice or Statement.

- They are set up as vendors in order to be paid commission

- Some pay their fees by check and others want the fee deducted from their commission check

       * if deducted from commission check, I need to reflect the net pay (commissions paid - expense) and then the fees need to be applied to a receivable account.

What's the best process so they will be accurate when it comes to reporting their 1099s?

Thank you!  

 

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