How do I record funds administration expenses?
I have a client who receives funding to manage certain projects. They have to report back to the funding body all expenses associated with the project - no problem. They are also allowed to charge a percentage, dependent on the type of activity, as an administration charge. The allowed administration charge is included in the funds received. The admin charges have to be included in the report as an expense. How do I record these charges in the client's books using Reckon Accountant Premier. They tried to enter a bill for the amounts and do a journal entry accounts payable/funds income but this inflates the income by the expense amount.
Is there a way to report an internal expense?
- All Categories
- 6.7K Accounts Hosted
- 5.9K Reckon Accounts (Desktop)
- 3.2K Reckon One
- 135 Reckon Payroll Upgrade for Reckon One 🚀
- 10 Reckon Invoices App
- 939 Reckon Payroll App & Web
- 21 Payroll App - Help Videos
- 18 Reckon Mate App
- 14 Reckon Insights
- 107 Reckon API
- 949 Payroll Premier
- 117 Payroll Premier upgrade to Reckon Payroll ⤴️
- 325 Point of Sale
- 1.9K Personal Plus and Home & Business
- 68 About Reckon Community