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ReportHere is what I am trying to achieve: Our organization collects fees from consumers on certain products that they purchase. Retailers actually collect the fee from the consumer, and then remit it to us.
On a portion of these fees, the retailer is paid an agent fee for their administrative expenses involved with the collection and remitting of the fees.
To date our staff have been tracking all of this manually. I would like to migrate the transactions into Great Plains. My goal is to make the entries as simple as possible, and had dreamt up a solution with only one entry. However, when I tested my idea in GP it does not work, as I get an error message.
Example: Agent collects $100 in fees, deducts $20 in agent fees, submits $80 to us. My idea: Post an A/R with a value of $80. In the accounting distribution, enter the detail:
DR Accounts Receivable $80
DR Agent Fee Expense $20
CR Revenue $100
GP gives me the error that the distribution does not match the A/R amount.
I want to avoid having to post an AR entry, then an AP entry for the fees as this is cumbersome. The retailers always deducts their agent fees from what they submit, so we never have to issue any payments to the retailers. Any ideas?
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