Netting off agent fees and bank tagging

Need help with how to input the following in Quickfile please.

We charge a customer £100+VAT (net £120)
An agent collects this amount on our behalf and charges us £4+VAT (net £5) in order to do so.
We receive in the bank £115.

We raise an invoice for customer and agent supplier and allocate the £115 to customer from bank but how do we deal with marking the agent amount of £5 to mark as paid without double counting this?

Hello @spq123

Usually you would use a holding account (Merchant Account) in the bank window, I have outlined the steps below

  • Create the customer invoice for £120
  • Pay off the £120 customer invoice using the holding account
  • Create a £5 invoice on a supplier account for the Fees
  • Pay off the £5 supplier invoice using the holding account
  • Do a bank transfer from the holding account to your bank

The article below lists out the steps in more detail using a letting agent as an example but it is the same process

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