Hi We get quarterly payments from Ofgem for Boilers, Solar etc. This income is a huge part of our company. How should i record this so it show on P&L, thanks
Is this like a commission payment? If so when entering your invoices you can post these sales to “Commissions Received”.
Hi Glenn
No its not commission, its money the company gets for renewable systems we have paid for and get quartlerly payments from RHI (Ofgem)
Is it like a reimbursement, or a refund to what you’ve paid, or a sort of goodwill payment? If there isn’t a nominal code for it, you could always create one
I would create a new nominal code to fit your business requirement rather than trying to hammer everything into the default setup.