How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask IRS Solutions Your Own Question
IRS Solutions
IRS Solutions, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 42
Experience:  CPA, CFS. Individual, corporation, estate, trust, non-profit tax filings. Tax debt relief.
Type Your Tax Question Here...
IRS Solutions is online now
A new question is answered every 9 seconds

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: 5 years ago.
Category: Tax
Expert:  IRS Solutions replied 5 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.

IRS Solutions and 2 other Tax Specialists are ready to help you