How do you deal with the following When I sell goods I recieve a sales invoice from market. It will include the cost of goods sold, then less commission and Vat on commission. So my entry into my bank is sales -commission & Vat so somthing like this Total sales - £3000 Commission - £50 VAT …

Conceptually it isn’t really different to taking a credit card payment where the card company skims off their percentage. My reaction is to treat the market place as if it was a merchant account. This is covered in the knowledgebase. [image] Handling payments from merchant ac…

Is it possible to have a Company listed as both a Sales Client and as a Purchase Client ? I could then enter the both the sales amount as a Sales Invoice and then also enter the commission as a Purchase Invoice against the same client ?

Hi @uptheswa You would have to set the same company up twice; once as a Sales Client and again as a Purchase Client. You can then contra the entries as required. Let us know if you need help with this.

I have raised a purchase invoice and a sale invoice for a client that charges commission. I am not sure now how to link those to the bank statement amount. Any recommendations please?

[image] Contra-Invoicing, Same Customer and Supplier, Netting-off receivables and payables How-to Do you have a recommended method for ‘netting-off’ customers who have made supplies i.e. transfer the balance on an unpaid purchase invoice to the Customers account and apply…

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Sales Invoice with Commission Deducted

Accounting

ian_roberts 27 April 2019 08:12 6