How To? Provider, Company, Agent, Customer

Hi Adam,

Apologies that this wasn't looked into sooner. It does seem a rather complex transaction but I believe I have some steps that may provide a solution for this.

For the transactions between the company and provider (the initial £1000 received followed by the 10% fee at £100) these can be settled using a contra account. You can do this through Clear Books by setting up a new bank account called 'contra' account.

Head to Money > Bank accounts > Add and select Bank account. You can call it 'Contra'. This will exist as a virtual bank account whereby which the invoice and bill are settled by the contra account.

For the monthly fees of £200 you can set up a recurring payment. This following guide will outline all the steps required to do this:

http://www.clearbooks.co.uk/support/guides/uncategorised/how-to-set-up-a-recurring-payment/

If the £600 is a one off payment you can create a bill or money out transaction (Money > Manage Money > Money Out) to explain this.

Both the recurring monthly fees and £600 can be settled with the balance left in the contra account, which should be a positive amount of £900 once you have paid the commission from the initial transaction.

You can add expense claims as well to account for the expenses for the agent.

I hope this offers a reasonable solution. I would test this first to assess the feasibility but do let me know if you need any further assistance with any of the steps.

Hi Adam,

Apologies that this wasn't looked into sooner. It does seem a rather complex transaction but I believe I have some steps that may provide a solution for this.

For the transactions between the company and provider (the initial £1000 received followed by the 10% fee at £100) these can be settled using a contra account. You can do this through Clear Books by setting up a new bank account called 'contra' account.

Head to Money > Bank accounts > Add and select Bank account. You can call it 'Contra'. This will exist as a virtual bank account whereby which the invoice and bill are settled by the contra account.

For the monthly fees of £200 you can set up a recurring payment. This following guide will outline all the steps required to do this:

http://www.clearbooks.co.uk/support/guides/uncategorised/how-to-set-up-a-recurring-payment/

If the £600 is a one off payment you can create a bill or money out transaction (Money > Manage Money > Money Out) to explain this.

Both the recurring monthly fees and £600 can be settled with the balance left in the contra account, which should be a positive amount of £900 once you have paid the commission from the initial transaction.

You can add expense claims as well to account for the expenses for the agent.

I hope this offers a reasonable solution. I would test this first to assess the feasibility but do let me know if you need any further assistance with any of the steps.