I’m not sure how to phrase the topic question as my accounting terminologies are not good. However, I’ll explain here: Our franchisees have been paying a national marketing fee as part of their general fee since December 2019. I would now like to be able to split this marketing fee, so it appears in a separate account or pot. What’s the best way to achieve this both retrospectively and going forwards (without re-invoicing)?
I’d just journal the overall total across now to account for everything to date, and just start splitting future invoices from now on.
If “everything to date” crosses accounting years then it’s probably be worth doing one journal on the last year end date for that year and another one now for the current year to date.
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