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Agency sales

This topic has 1 reply, 2 voices, and was last updated 6 years ago by P2-D2.

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April 21, 2019 at 4:28 am #513628
mika84
Member
- Topics: 99
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Dear Chris,
could you calrify the following:
If agent has 20% comissions, sales 2mln, 400000 revenue.Does other 1.6 mln go to cost of sales or trade payables?
April 22, 2019 at 8:17 pm #513786
P2-D2
Keymaster
- Topics: 4
- Replies: 7141
Hi,
The other 1.6 million is not recognised in the financial statements as it is not our revenue as we are acting as the agent.
Thanks
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