How do I enter in a marketing invoice that takes a commison fee taxes and credit card fees off the sale of a product. How do we allocate that type of invoice? That has HST/GST taxes applied to the product and commisson fees.
Is this an invoice for something that you have sold?
I would create an invoice.
Set up an item for the item sold linked to an income account.
Set up items for the deductions linked to the expense account. Enter the amounts as minus numbers.
If the credit card fee is shown as a separate item on your bank statement, I would enter the fee when you make the deposit.
You would receive the payment for the full amount of the invoice and deposit to Undeposited Funds.
Write a cheque and use your credit card fee expense account as the expense. Your deposit will match your bank statement and your credit card fees will match your bank statement.
