Hi there,
I have a client who raises invoices to their Agent for, say £1,000. The Agent deducts 10% commission and only pays them £900.
Is there a way to log this on the invoice so that it also populates a “Commission” cost line in the P&L (as well as £900 revenue)?
Thanks
If they’re not vat registered then they could create a suitable custom expense code for the commission and set it as able to be used on sales invoices, then create a negative line on the sales invoice for the commission and use the 
button in the line description box to switch it to the expense code.
But if they are VAT registered then they’ll have to do a separate sales invoice for the total income, purchase invoice for the commission, and use a holding account to net things off. The negative sales line approach gives the correct P&L but would report things in the wrong boxes on the VAT return (the commission would be a reduction on boxes 1 and 6 instead of an addition to boxes 4 and 7).
It’d be £1000 revenue, £100 cost, £900 net profit.
Thanks.
If we were to use the “Discount” line on the invoice instead, does that populate a “Discounts” line in the P&L?
If you’re talking about the discount percentage box at the top of the invoice editing form then I’m afraid I don’t know, hopefully someone from QuickFile staff will be able to advise.
If you’re talking about adding a new line to the invoice, then it’ll populate whatever nominal code you tell it to use in the popup.
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