How do I enter sales that have a commission fee?

Sunrise_Bee

I just started using wave so i'm trying to figure it out.

I sell bottled honey at a store that rents out shelf space and then charges a 10% commission fee on all goods sold. So I'm wondering how do I enter this into wave to track everything correctly?
At the end of the month I get a report from the store with the list of goods sold and for how much and what the commission fee is and obviously the cut me a check for the remainder.

Do I create an invoice to track the sale of the goods? theres no place that I can see to put their commission fee on the invoice, so if I just did an invoice for the goods sold the bank deposit doesn't match the total of the goods sold.

JulianP

Hello @Sunrise_Bee !

If you track your income with invoices, you can record the commission fee by creating and adding a negative item line on your invoice. You can name it something along the lines of "Commission fee". Alternatively, you can track these "commission fees" like a transaction fee. With this method, you can split your deposit transaction on your Accounting > Transactions page to include a negative item line on it to account for the fee deduction. I hope this helps!