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To track commissions paid to employees:
- Set up a commission payroll item(s).
Add the commission payroll item to the employees' records.
Once you have created a commission item, you can apply it to all of your
employees, even if the amount (or rate) of the commission is different for each employee. You can set the actual amount or rate of the commission item on each employee's payroll record, or when you write a paycheck.
If you have different types of commissions that you want to track separately in your reports, use a separate payroll item for each commission type.
To set up a commission item:
From the Lists menu, choose Payroll Item List.
Click the Payroll Item button and click New.
From the Type list, choose Commission, and click Next.
Enter the Item Name which will print on payroll checks and reports.
Select the account where you want to track commissions, and click Next.
(Optional) In the Default Rate window, enter an amount or percentage for QuickBooks to use to calculate this commission. To enter a percentage, type a percent sign (%) after the number. You can change this figure whenever you use the commission item.
Click Finish.
To add the item to employee records:
From the Lists menu, select Employee.
Select the employee, click the Employee button, and then click Edit.
Click the Payroll Info tab and use the list in the Additions, Deductions, Company Contributions box to add the commission item. Here you can enter different amounts for different employees. When both the commission item and employee records are set up, you are ready to do your payroll.
At the Preview Paycheck window for your commissioned employees, you
should see the commission item. If you set up the commission item using percent (%) in the rate column, enter the quantity so QuickBooks can compute the commission based on the percent and quantity.
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To apply existing credits or payments to an invoice, do this:
- From the Customers menu, choose Receive Payments.
- Choose a customer's name.
The amount of the credit memo appears in the Existing Credits field.
Select the Apply Existing Credits? checkbox to apply the credit amount to any invoice for this customer.
QuickBooks enters the credit amount in the payment field of the oldest outstanding invoice if you have set QuickBooks to automatically apply payments. If you did not set QuickBooks to automatically apply payments, click in the checkmark column next to the invoice being credited.
- Save the payment.
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