I am trying to track AIRBNB and other booking platform transactions. Currently all payouts come into my bank account net or after they take out platform fees and taxes. Obviously I want to track how much I pay AIRBNB and track my tax liability. But I’m at a loss as to how to accomplish this. Any ideas out there? Bill
I’d consider using the Paycheck Deduction Transaction Generator. I use it to track my gross income and the associated deductions that get me to my net income. It allows me to keep track of how much I’ve paid in taxes or contributed to my retirement account. This seems like a parallel situation, just with a different type of income.
Thank you for the reply. I gave it a quick look and it might work. But what confuses me, is that the AIRBNB gross comes into my account (less fees & taxes). So I need to track the taxes removed as well as the fees I’ve paid to AIRBNB & others.
Do you mean the AirBnB net comes into your account? There is some manual entry required with the paycheck deduction generator precisely for things that come out before anything is sent to your bank account. Not sure there’s anyway around that.