I have been doing bookkeeping for 6 months now, i am AAT NVQ2,3 and currently finishing 4. I have a new client who is a graphic designer. who does the following,
·work for her own clients.
·project work and earns commission as her company
·works with a partner on various other projects
·may be working with a further partner on other projects coming up
How do i post point 2 in her accounts, create a new nominal code for commission?
If she earns money for the projects done with partners do i just enter this as a salary? Please help!
Many Thanks
-- Edited by Local Bookkeeper on Saturday 17th of September 2011 08:36:43 AM
Yes you could have a different nominal codes for different types of income, alternatively it could all go in together. Sales are sales, depends whether the client would like to be able to see the distinction when looking at her accounts.
As for the partner, it would only be salary if she was working PAYE for this other person. When you say partner do you mean a partner in her business or working alongside another business, how is it set up?
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Jenny
Responses are my opinion based on the information provided. All information should be thoroughly checked before being relied on.
