Please help!!! We let business units. ONe of our tenants uses our pdq machine for which we charge her a commission. The money from the machine comes into our account and we pass a net amount onto her. Can you help me with the appropriate journal entries for this on sage. I have set up a supplier account for her and a cusomter account for the pdq company. Is the following right?
1. Sale takes place: Cr - Commissions (commission received) Dr - PDQ 'customer' (total invoice) Cr - PDQ supplier (net amount) 2. When gross amount paid in by PDQ company: Dr - Bank - (full amount) Cr - PDQ 'Customer' (full amount) Dr - commissions (commissions) - journal Cr - Bank (commissions) - journal 3. When she is paid: Dr - PDQ 'supplier' - (net amount) Cr - Bank - (net amount)
I think I am getting lost and am not sure about the journal entries in step 2 - should I cr the bank - I have to cr something to offset the journal entry of dr-in the commissions account.
Very clear Journals - will give it a try. If tenant then wants to offset against rent how would I then build this next stage on. How would I allocate the partial amount she pays in - say £200 owed less the £9 we have to pass back to her.
Brilliant as journal entries - again see the logic - the trouble I'm having is how to 'sage' this. At the moment I am receiving an 'invoice' from my tenant as a supplier for each pdq slip. I then issue an invoice to my 'pdq' customer. When the money comes in I mark as payment received from 'pdq' customer. What sage entries do I then post to make sure the money is then split 3 ways between commissions received, rent and tenant - given Sage will want to 'double entry' for me?
Many thanks for your ongoing help with this....really appreciate it. RT
