toryob's avatar
12 years ago

Bank transactions: Combine expense and income transactions into the one for matching


I have a large number of clients who, when receiving a payment for an invoice, receive a lesser amount due to commissions paid or expenses incurred.

For example, a client who has created an invoice for say, $85 only receives a payment of $79 - the remaining $6 was an expense item to American Express (Merchant Fees).

Another example: a client creates an invoice for $150 for accommodation but only receives $120 - the remaining $30 was commission paid to an online accommodation company.


At the moment I am creating general journal entries for my clients who ring - weekly - unable to correctly allocate their receipts. 


Ideally, when matching a payment to an invoice, I would like to be able to include an expense line item which then equates to the amount actually received.


Also, to be able to split the accounts with both an income and an expense line item.


This would save me a huge amount of time (and money) - and allow the client to correctly allocate both the income and expenses.


"Matching Deposits and Including Expense Line Items"


  • Hi,


    I have an issue where i would like to be able to split a bank feed transaction between an income and expense account.


    Instance is, where a deposit comes from a Merchant provider, that proivder only deposits the net amount to me.  Therefore, it would be handy if i could split the transaction so that i can show the Gross amount to my sales account and the associated charges to the merchant fees expense.   I note that both of these are subject to GST, so need the income to be able to be shown at G1 (Gross Sales) and 1A (GST on Sales) on the BAS report, and for the merchant Fees, G11 (Non Capital Purchases) and 1B (GST on Payments) for the purposes of the BAS.


    Obviosuly this then shows the trasnaction being technically correct, as it is matching the income and expense by showing the two allocations that the one transaction relates to.


    I note that there is software that can handle these sorts of splits of an income and expense in the one transaction, in particular Microsoft Dynamics NAV does this well.


    Look forward to hearing from someone.

    • Steve777's avatar

      Any feedback from the SemPar1 on ‎10-04-2014 09:30 PM would be appreciated.


      Is there the ability to Split the Revenue Item into revenue and expense? Again I have a Net Deposit which is made up of Sales Income Less Commission Expenses.

    • AccountsOnline's avatar
      Cover User

      As a new user of Essentials the functionality to be able to gross up a transactions is also very important for users in New Zealand.  We have a number of instances when the functionality to do this at source rather than create a journal would be far more efficient.  As a long standing BankLink user this functionality has been available in BankLink for many years.  BankLink allows the likes of Amex, Diners, interest less withholding tax and commission payments where deductions have been made to produce a net payment. This is a request for that same functionality so that it can be applied to both manually coded transactions, as well as in memorised/rules processed transactions.


      Look forward to this limitation being escalated, as I see the orginal request for this in April 2014.

  • Hi,

    I work with a large number of primary producers who are having the same issues when it comes to allocating their sales income. The sales income received by the bank is a net figure of the gross sales less selling expenses. It would be great to be able to split an amount between an expense line and an income line.



  • Status changed:

    Thank you very much for your suggestion.


    Being able to match a bank transaction to both income and expense transactions, or split allocate the bank transaction to income and expense accounts to create Spend Money/Receive Money transaction respectively would indeed be a convenient option to have. I would encourage any interested users to cast your vote, and leave comments if required. 

  • Being able to match a bank transaction where gross income less commissions or levies are charged and have the amounts reflect correctly in the GST reports would be a major advantage it currently reflects correctly in all other reports and fails with the GST