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IRS Solutions, Certified Public Accountant (CPA)
Category: Tax
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What category on the chart of accounts is the best place for

Resolved Question:

What category on the chart of accounts is the best place for referral fees? I used to work for a newspaper company and the hotel managers got paid every time they referred a customer to us.
Submitted: 4 years ago.
Category: Tax
Expert:  IRS Solutions replied 4 years ago.

IRS Solutions :

We will want to ensure you can generate reports of this information should you want to. I would simply have an expense account titled"Referral fees." If you use QuickBooks, you could set up a sales representative field on the sales transaction for each party you obtain referrals from, this would allow you to generate sales reports showing this data.

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