 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Accounting for billing services
Our company(A)is acting a billing service for company (B). Company B sends their Sales Reps out to the field. A sale is made and are expected to do the billing for this sale. Company B will wants to produce the invoice on their accounting system because to them it is a "sale". We send out the invoice, collect the funds, calculate a percentage fee and send Company B the net amount. As the billing company (A), how do we set up the accounting for this.
Funds Received Fee for Service Pmt to Company B |
||||
Check out some similar questions!
I received a bill from the City in which I received my DUI. This bill has nothing to do with the punishment and fee's associated with the court system. There was no fire department or medical emergency treatment during this traffic stop. Just a routine sobriety test followed by a ride to the...
Billed customers for services performed $5,668. When jurnilizing, would I DEBIT accounts receivable and CREDIT service revenue?
Hi, I am an accounts assistant and would like to ask if anybody would know how to record the following transaction. For professional services to be rendered by a financial advisor. The terms of agreement are that fees will be fixed at $160,000 plus out of pocket expenses and applicable...
The follo0wing are the balances in the acocunts for Joan Miller Advertising Agency as of January 31, 2001 Fees Receivable Debit $200 Wages Payable Credit $180 During the month of Feb, the agency engaged in the following transactions: Feb 8 . Completed the series of advertisements for...
View more questions Search
| Question Tools | Search this Question |
Add your answer here.
|
