Simple problem but big head ache procesing it

[Robert Heller]

At Fri, 30 Dec 2011 18:31:37 -0800 (PST) JamesGLang <jamesglang at gmail.com> wrote:

> 
> Hello all
> 
> I am a landlord 
> When an invoice is raised against a customer 
> and that customer is a letting agent
> lets say £495 for rent 
> the letting agent applies a fee + tax to that charge 
> Fee £49.50
> Tax £9.90
> So the amount payable to me is £435.60
> you can do the sums yourself but
>  £495.00 - (£49.50 + £9.90) is £435.60
> 
> What is the correct way to process this 

The *obvious* way is to create an invoice:

Rent: 435.60
Fee:   49.50
Tax:    9.90

This assumes that the letting agent writes you a check for 495, and
then you pay the tax and fee to where they go (eg tax to the taxing
authority).  You would create the apropriate expense transactions
separately (or possibly as splits after you process the payment).

If the letting agent collects the fee and pays the tax, then it would be

Rent: 495.00
Fee:  -49.50
Tax:   -9.90

The Invoice will total 435.60 and the letting agent gives you 435.60
and it is up to the agent to handle the other transactions.

I'll leave the other variations as a homework assignment...

> 
> Thanks 
> James
> 
> 
> 
> 
> 
> 
> --
> View this message in context: http://gnucash.1415818.n4.nabble.com/GnuCash-Forum-tp3655293p4247444.html
> Sent from the GnuCash - User mailing list archive at Nabble.com.
> 
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
> 
>                                                                                   

-- 
Robert Heller             -- 978-544-6933 / heller at deepsoft.com
Deepwoods Software        -- http://www.deepsoft.com/
()  ascii ribbon campaign -- against html e-mail
/\  www.asciiribbon.org   -- against proprietary attachments