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I'm setting up a chart of accounts on quickbooks online.

Hi, I'm setting up...

Hi, I'm setting up a chart of accounts on quickbooks online. Under what detail type would I include comissions?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Where would you put commissions in the chart of accounts if you only have the quickbooks online detail types?

Accountant's Assistant: Is there anything else the Accountant should be aware of?

That's all

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Answered in 6 minutes by:
12/11/2017
Carter McBride
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 1,032
Experience: Adjunct Professor
Verified

Hey! I'm Carter, I'm a CPA and would love to help you out with this.

Commissions would be Income as the type and the detail type would be Service/Fee Income.

Hope that helps. If you need any clarification, let me know. If not, please leave a rating. Thanks!

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Customer reply replied 4 months ago
I'm a construction company. So when I pay commission to my sales people it is classified as income to me?

Sorry, I thought you meant it was sales commission. That will be an expense. It can go under Other Miscellaneous Service costs since they are a cost of the services you provide.

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Customer reply replied 4 months ago
Hi Carter, I appreciate our help. Using quickbooks online, I am importing a chart of accounts that has 10 main accts that each have about 50 sub accts. I'm finding that I have to open 500 accts and add the sub acct to the parent. Is there a better way of structuring this?
Not that I know of. Sorry I cannot be of more help with that.
Carter McBride
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 1,032
Experience: Adjunct Professor
Verified
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Carter McBride
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