Entering a sale that has charges/commissions deducted from payments.

Question

I was wondering if I can help on how I record this transaction. I have been doing it incorrectly and I have been told to entry the transaction via journals.

We have a third party that looks after our online orders. On a daily basis we get the funds less any charges/commissions. What is the correct way of recording the GST and expense. I have been told a journal entry is easiest. This would be daily transaction.

Thank you.

Acctd4 · Answer

You're very welcome @adimauro - Feel free to contact me direct if you get stuck 😊

Zappy · Answer

Glad you got that sorted. Really wasn't that difficult either. Journal entries are a bad idea for loads of reasons. This is just one of them

adimauro · Answer

Thank you so much for responding to me. Shaz.