Home – New Forums Money matters Saasu query: Commission on recovered debts

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  • #977777
    CG
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    Saasu experts: can you help with a one-off query?

    The DVD hire business for which I do the data entry in Saasu passes recovery of unpaid overdue fines (over a given value) to a debt recovery company which specializes in this area.

    That company takes 50% of monies recovered and paid directly to them as their commission and they pay GST on that amount. (Yes, it’s a high % but if the customer is spurred by their letter to pay the fine directly to us, no commission is charged. And for us, it’s better to retrieve half the amount owed than nothing.)

    So the tax invoice to us that matches the payment into our bank account has 4 columns:
    Monies paid by customer $100 || Commission taken by store $50 || Amount remitted to store $50 || GST paid $5
    Amount paid into bank account $50.

    Now the $50 we get back is evidently ‘money in’: to be entered as a Sale which attracts GST.

    But I am told that I can reclaim the GST shown on the invoice, presumably by entering the $50 commission as an expense or purchase that includes GST. But how do I enter that in Saasu when there is no outward payment to match against it.

    What I’d like to be able to do is create a single mixed transaction that matches their invoice, using a minus sign for the commission that has been taken out, but Saasu won’t let me use an expense category on a Sale transaction. And it messes up the retrieval of the GST.

    Saasu-specific advice only, please, by PM if you prefer.

    #1101240
    CG
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    Wonderful Scott at Stellar Profits came to my rescue instantly so the problem is completely resolved now.

    #1101328
    CG
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    • Total posts: 101
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    Wonderful Scott at Stellar Profits came to my rescue instantly so the problem is completely resolved now.

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