QB Issue Resolution:
You’ve got Two Different things confused.
1) they are Subcontracting their own business work:
“We need invoice the customer/homeowner for the full amount. Once we receive payment, we have to pay the subcontractor their 85% of each invoice and keep the 15% as profit.”
You invoice Your Customer in full. This is your Gross Sales.
You would make the payment to the subcontractor and on the items tab you can use the same two-sided Service item and Job track it, but Not Billable. This is how you enter your Expense. Please see my attachments.
2) They Sold the business. That means there is a Cut from ongoing sales until the Purchase of the business is Paid in Full, and the seller agreed to take a cut from specific future sales. That means, as the Seller, you do Nothing about “customers.” You are not even being paid for Sales of services. You are being paid against the Sale of the Business. That means the business sale is an Entity sale or an Asset Sale, and that means there is Financial data entered, and there is an unpaid amount carried as Other Asset = owed To You. And the payments you get are offsetting the amount Owed To you, and nothing here has anything to do with Being in Business, for landscaping, because you Sold your business. There is no such thing as Subcontractor here; you no longer Own a business for this.
You need to meet with your own CPA.
Resolution for Issue 'How to book 15% commission on every transaction in a division, but have it ‘not visible’ to customer?' available: Yes (Solved).
Source: Intuit Community forum.
How to book 15% commission on every transaction in a division, but have it ‘not visible’ to customer?: 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 being paid
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