Customer payment which has deductions applied , hence you receive a less amount

Kathyd
Kathyd Member Posts: 131 Reckoner Reckoner
in Reckon Accounts (Desktop)

When selling Sheep the Agent takes deductions, which some deductions have GST. It is my understanding I cannot create Expense within the Item List if they have GST as it affects the BAS.

What is the best way to handle this scenario:

Customer Invoice is $24000.00

Deduction -Agent Fee $1000.00 ( has GST)

Deduction Market Fees $1000.00 ( no GST)

Funds received into bank is $22000.00

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Answers

  • GerryWinter
    GerryWinter Accredited Partner Posts: 1,577 Accredited Partner Accredited Partner

    I would set up a clearing accounts putting the total payments into that and then making the payments for the deductions from that as well then transferring the balance into the main check account

    Gerry id 6376

    Gerhard Winter

    Ph. 0418907140

    Reckon Store Next Door

    "Always at your Service"

    Email: gwinter0808@gmail.com

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