where would you apply commission received
If I received payment from a customer/vendor and part of the check is a commission back to me that I get where does that get posted
Great question! You can create an account called Commissions on your chart of account and it belongs in the Other Income category. Post all of your commissions to that account to keep them separate from your sales/income account that you post to for non-commission sales.
Crystalynn Shelton, CPA