We work with contractors who are offered management services for a management fee. The management fee is charged at 30% of revenues that the contractors generate. How can we generate invoices for them in MYOB to reflect the below situation.
Hi @openclinics
Sorry to see that no one has offered assistance with your query. From my understanding of your explanation, it sounds like you have a supplier who you owe $1100, who owes you $365, so instead of paying those amounts, you have agreed to pay the difference of $735?
When dealing with this sort of situation, is it usually done as what is called a contra payment, which is when you offset sale and purchase amounts and pay the difference.
To record this type of payment, you'll need to set up a contra account. For details and steps please refer to our Help Article on how to set it up: Dealing with a supplier who is also a customer.
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