Consider a scenario where you have to pay about £100 in taxes and receive £20 as rebate(commission). In this case, the tax paid to the tax agency would be £80.
To record the tax payment amount £80 (paid to your tax agency), please record an expense with Expense Account as “Tax Payable” and Paid Through your bank account.
Currently, there is no option to record the commission as Income. As a workaround, please follow the steps mentioned below:
You can learn more about Manual Journals here.
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