Paying a %age of sales revenue in MYOB

Question

&nbsp;GPs are generally contractors and paid a percentage of their billing and the balance is charged as management fee.&nbsp; say the&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;gross fees&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;$1000Management&nbsp;fee&nbsp;@30%&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; $300GST on Management fee@10%&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; $30Amount paid/ transferred to&nbsp; GP contractor&nbsp; &nbsp;1000-300-30=$670&nbsp;How do we do this in MYOB account right?

cloverq · Answer

Hi&nbsp;openclinics&nbsp;
&nbsp;
It would be best to consult with your accountant for the best way to record the transactions for your business set up and reporting requirements.&nbsp;
&nbsp;
Having said that, I'd suggest checking out this Help article on Calculating sales commissions as it may provide you with some ideas. Potentially there may be some add-on solutions available that can help tracking/calculating/recording the payments.&nbsp;
&nbsp;
I hope this helps.

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Paying a %age of sales revenue in MYOB

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