I pay commissions to insurance agents for each policy they sell. If a policy is cancelled, I need to invoice the agent for the return of that commission. When posting these payments, I DB sales commissions account and CR bank.
There isn’t an option to CR sales commissions account when I try to invoice the agent, am I doing something wrong? I thought I would need to show in the sales commission account that the payment has been ‘reversed’?
When the agent pays me how do I record the invoice as being settled?