How to Record Fees in a Commission Deposit

Bachi61

My wife is a real estate agent with Compass.

When Compass makes a commission payment, it includes line-item expenses like Transaction Coordinator Fee and a Resource Fee.

Something like the following:

Gross Commission
Minus Transaction Coordinator Fee
Minus Resource Fee
Equals Net Commission (actual deposit)

At the end of the year the they send a 1099 for the Gross Commission amount.
So we need to show the fees that were deducted.

Wave does not allow me to split the deposit and enter a negative number for the fees.

Is there a way to enter the deposit so that it records the Gross Commission and the Fees?

Thanks from a newbie Waver!
Bachi

AlexL

@Bachi61 Hey Bachi! We have a super handy Help Center article that will break down how to record expenses within an income transaction. You can follow the steps listed but just make sure that you're naming the new account something that makes sense (Fees for example).

Let us know if you have any further questions!

Bachi61

Thank you, that worked!