QB Issue Resolution:

You deposit the $10k as a Current Liability, not as income.

This is a Balance Sheet account. Not everything is either income or expense.

The check you pay out will be like this:

Liability $10,000

Commission holdback (to an income account) -$3,000

Net Payout = $7,000

Resolution for Issue 'Best way to enter proceeds of an auction?' available: Yes (Solved).
Source: Intuit Community forum.

Best way to enter proceeds of an auction?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for Quickbooks/QBO
Quickbooks Repair Pro will resolve it efficiently and affordably. Guaranteed resolution of your issue, or you pay nothing!

Error Recovery for Quickbooks/QBO [Canada]
E-Tech is the #1 Quickbooks data migration and Conversion service provider.

Get 50% off Quickbooks Online

Click Here for 50% off!

Additional Support Options: