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Post Info TOPIC: Referral fee
Vix606


Veteran Member

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Posts: 25
Date:
Referral fee
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Hi all, 

My client has just given me her last bits and bobs for YE (yep she's that organised) and she seems to have set up some sort of referral with another therapist (shes a speech therapist)

So my clients invoicing the customer who is paying her for appointments they are having with another therapist,  my client takes a percentage and then pays the other therapist herself.

for example

customers invoiced £228

the other therapist charges my client £111

my client makes £117 for doing nothing seemingly. 

How is the best way to put this through my clients accounts?

Victoria 

 

 



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JamesNexok


Newbie

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Posts: 3
Date:
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Hi Victoria,

Show the total sales transaction of £228 in income. On the expenses create a category under direct costs called "Commission" and enter £111.

A Profit and Loss will represent the profit of £117.

This is the simplest way and how I would deal with it as an accountant, if you have any further questions please don't hesitate to ask.

James 

 



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Vix606


Veteran Member

Status: Offline
Posts: 25
Date:
Permalink Closed

Hi James

Thanks for your advise, I thought that would probably be the best way to deal with it but just wanted to make sure it was correct

Victoria

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Cheshire


Master Book-keeper

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Posts: 8646
Date:
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Assuming there is no VAT

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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