This article is Step 4N of Understanding Accounting Integration - Control Accounts > Finance Commission Income 

To see all the steps of Understanding Accounting Integration, please review - Overview - Understanding Accounting Integration

Step 4N - Control Accounts - Finance Commission Income 

The purpose of this Control account is for the Dealership to be able to record both the Finance amount together with all commissions earned on financed Unit Deal

We are also assuming that when the Finance Company pays the dealership the financed amount that they are also paying the Dealership's Commission so you will also be able to receive the full amount into Blackpurl

The income component of the Finance Commission will also integration over to your Accounting Package to the General Ledger indicated in the Control Account field of Finance Commission Income

Please remember that if you do not indicate a General Ledger in this field, then no integration of the Finance Commission from BP to your accounting package will occur

With this in mind the relevant General Ledger Account Type in your accounting package must be income / revenue based so the Dealership may need to setup a new General Ledger in your accounting package for this purpose 

Example in QuickBooks Online on creating a new General Ledger

Example in Xero on creating a new General Ledger 

Note - when you click on Account Type go to the Revenue items and select one of the options from the section ie Other Income / Revenue / Sales 

Let's go through a scenario

Dealership has sold a unit for $20,200 less down payment of $2,000 so the amount financed = $18,200

Dealership Commission of $500 

The full amount of $18,700 will be paid to the Dealership as part of the Finance amount received by the Dealership from the Finance Company

Fill in the relevant field on the Deal Financing section

User will then receive the full amount of $18,700 in Blackpurl

Dealership will just need to close out the Customer Order once the Finance has been funded 

Once the Customer Order is closed out there will be a journal for the commission amount that will sit on the General Ledger indicated in the Control Account - Finance Commission Income field 

When the funds are received into the bank $18,700 will still need to be allocated to the relevant Undeposited funds General Ledger as per the normal process