How do I Contra a payment?

[Kipster]

Hi there,

I have a sales invoice I need to input however within that invoice there is a payment I need to make, so how do I record the total sales and then record the reduction to that sale regards to the commission they charged for selling on my behalf?

Many thanks

[rhc]

Hi Kipster,
You have to create one sales invoice the sale and one purchase invoice for the commission you paid.

If the company who sold your item/service for you transferred the reduced amount (sale minus commission) to your bank account, then you should create a dummy bank account where you tag the sale and the commission to. You also have to make a ‘transfer between accounts’ in which you ‘transfer’ the amount from your current account (or wherever the money arrived) to that dummy account. That should level out everything

Hope that helps

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