Holiday let payments received from letting agent

[Jam11]

Where do I log a payment from a letting agent, the payment is the sum to me after the agent has taken their commission

[ian_roberts]

You probably want to treat the agent like a “merchant account” - you record the full rent (before the agent’s fee) as a sale to the tenant, the agent’s fee as a purchase, and use a merchant account to net the two off:

Handling payments from merchant accounts

Many businesses these days receive daily payments from online payment providers like PayPal, GoCardless, Worldpay, SagePay etc as well as fixed terminal card systems like Streamline, Barclaycard Merchant Services, etc. Often we don’t want to spend the time putting in every single sales invoice into the accounting system and fortunately, we don’t need to. This guide will explain how to save time and log your sales in bulk. The basics When you upload your current account statement into QuickFi…