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Accounting & Bookkeeping & Small Business Forum
Accounting, Bookkeeping, Marketing, and Small Business Resource
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Guest
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| Posted: Mon Jul 07, 2003 9:00 pm Post subject: How Do I Record Sales Commission In QuickBooks? |
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I need help trying to set this up in Quickbooks. My client gets a 15% sales commission from her employer but she does not actually get a check for it, but instead is deducted from her monthly rent expense. Does anyone know how to deal with this in Quickbooks? Appreciate your input.
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Guest
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| Posted: Mon Jul 07, 2003 9:00 pm Post subject: Re: How To Record Sales Commission |
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I am confused by your question. Why is your client an employee? also, keep in mind that wages are wages regardless if a check has been cut. Your client should have FICA federal and state takes withheld. Also, her employer needs to be paying FUTA SUTA her portion of FICA and any local or state taxes on the employer.
Still not sure I am following you but I would dr Rent Expense for the full amount of the rental lease and cr commission income and cash. a 1099 will need to be sent to the lesor for the gross amount of rent unless it is a corp. |
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Guest
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| Posted: Fri Jul 11, 2003 9:00 pm Post subject: Thanks, Richard, New Question . . . |
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Thanks for the reply. Does this mean that my client (the hairdresser) needs to give the salon owner a 1099 each year for paying monthly rent for the space she's occupying in the salon?
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