Accounting for Hair Salon
What is the best way to set up a QB file for a hair salon that is organized as a two-member partnership that also has booth rentals for other stylists? The two partners are stylists who want to track their individual sales as well as their cost of products used. The salon has a substantial amount retail product sales, and they charge the other stylists for their use of the salon products. The other stylists keep their service income receipts from cash and checks; it is not run through the business QB file. However, all credit card payments are run through the business, and each stylists' share of the credit cards is used to pay their booth rentals and cost of products used.
I would appreciate any help or insight you might have for setting up the QB file to accurately track the activities of this salon. Thank you--