QB Issue Resolution:

@VBurgs wrote:
I sell products to a distributor.  The distributor offers services to me such as featuring my products in their catalog. I pay the distributor for these services through a reduction on the invoice for the products I sell them.

 

Ex: 

– I invoice them for $1,000 worth of product. 

– They feature my products in their catalog for $100.

– They pay me $900 instead of the $1,000.

 

How do I record this?  First thought was Credit Memo but I don’t think that will work.

 

 

@VBurgs

 

– They feature my products in their catalog for $100.

 

Create a new product/service code for this promotional item.

This should be your expense item like Advertising/Promotional type. When you create a new product/service item, for the Income Account field (see the screenshot below for reference), select this Expense Account.

 

Example:

Your Invoice will something like this

– I invoice them for $1,000 worth of product = $1,000

– They feature my products in their catalog for $100 = ($100) ===> enter negative amount

– They pay me $900 instead of $1,000 = $900

 

So, you’re creating a Client Invoice that includes both Revenue and Credit for Client’s service on the same Invoice.

 

Hope this helps!

 

advertising-promotional.PNG

Resolution for Issue 'I sell products to a distributor. The distributor offers services to me such as featuring my products in their catalog. I pay the distributor for these services through a reduction on the invoice for the products I sell them. Ex: – I invoice them for $1,000 worth of product. – They feature my products in their catalog for $100. – They pay me $900 instead of the $1,000. How do I record this? First thought was Credit Memo but I don’t think that will work.' available: Yes (Solved).
Source: Intuit Community forum.

I sell products to a distributor. The distributor offers services to me such as featuring my products in their catalog. I pay the distributor for these services through a reduction on the invoice for the products I sell them. Ex: – I invoice them for $1,000 worth of product. – They feature my products in their catalog for $100. – They pay me $900 instead of the $1,000. How do I record this? First thought was Credit Memo but I don’t think that will work.: 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.

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