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Dear Reader,
We have retail outlet for electronics product. We sell extended and accidental warranty to customers & have arrangement with an insurance company for covering it.
E.g. we sell insurance at 10% of goods value, we give 6% to insurance company out of it & keep 4% as our commission.
We have already set-up warranty sales as % of goods sales price. So selling unit is service item and has not cost.
Query: How can we define further that at any warranty sales transaction, automatic debit should go to warranty cost ledger and credit to insurance company account?
Thanks in advance.
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