Receive Payment Net From Vendor - Not From Customers


R

Rocky Kingston

I'm setting up QuickBooks 2003 Basic.

My customers pay my vendors directly. The vendor then pays my company
its commissions.

I often do not know the commission rate up front.

I also receive commissions from repeat direct sales between vendor and
customer that I have no knowledge of, but for which I get paid.

I also want to allocate commission splits, when received, between
salespeople.

My transaction is usually initiated when payment is received.

For example, I get a check from XYZ Manufacturing for a widget for
Customer Bob that was sold by Salesmen Fred.

I want to receive the check from XYZ, note that Bob bought the thing,
and credit Fred with a percentage of my gross commission because it's
his account.

Any suggestions?

Thanks.
 
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J

Jack

Sounds like your check is a commission check which would be your income
so that would be deposited to your bank and entered as
some kind of income.

You would then have to create your commission checks to sales people, QB
does not create commission calculations so you would have
to figure that external and create checks in AP or Write Checks for them.


Rocky said:
I'm setting up QuickBooks 2003 Basic.

My customers pay my vendors directly. The vendor then pays my company
its commissions.

I often do not know the commission rate up front.

I also receive commissions from repeat direct sales between vendor and
customer that I have no knowledge of, but for which I get paid.

I also want to allocate commission splits, when received, between
salespeople.

My transaction is usually initiated when payment is received.

For example, I get a check from XYZ Manufacturing for a widget for
Customer Bob that was sold by Salesmen Fred.

I want to receive the check from XYZ, note that Bob bought the thing,
and credit Fred with a percentage of my gross commission because it's
his account.

Any suggestions?

Thanks.

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660-949-2416
Northeastern Missouri
 
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J

Joyce C.

Yes, the commissions would be commission income and the salespeople's
commissions you pay would go to a commissons expense account. The
difference is your gross profits.
 

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