Hello,
we have a shopping mall, where we have 50 small shops. these shops are
rented to diffrenet company vendors or small businesses. these vendors
sell their items and pay us a small 10% commission on sales. now the
sales happens thru our point of sale software, and money comes to us
first. then we deduct the commission and give back the cost of item to
the vendor each month.


the questions is, 

we would like to have a entry to also deduct the monthly rent of say
$500 from the account before we pay the outstanding of the sold items.

so that,
we don't have to take separate check of the rent, 

How do we do the entry in the accounts?
so that we account it correctly , the sale part and the rent part.
How does the vendor account this deducction in his accounts?
How do we pay the vendor with raising a debit note ? if possible, is
it correct practice?
How can we raise a Invoice in our software, in which we can't have the
vendor as the customer also? ( software does not allow same vendor
name for customer) assuming we are selling some service as renting of
place to vendor( so selling them some thing)

how can we get clear statements of accounts, in the print and what is
acceptable to GAAP rules.?

PLease give step by step procedures, and all possible solutions.

note: software is a proprietry software. following GAAP compliance.

Will pay incentive if the solution solves my problem. 
please ask questions for clarification, as many as you want to
understand the questions.

Thank you in advance.

---

Request for Question Clarification by cynthia-ga on 15 Jun 2005 04:57 PDT

Perhaps this is too simple, but can't you just add a character to the
vendor's company name so the program doesn't see it as a vendor AND
customer?

ABC Jewelry
ABC Jewelry2

Just a thought...

~~Cynthia

Aren't the vendors already your customers as tenants?  How are you booking the
$ 500 rent now?  I would have thought that you had accounts receivable for them.
Oh, the problem with your software;  Cynthia's solution.

If you have been controlling the receipt of checks manually with
receivables accounts, it would seem that by establishing accounts
receivable you would have a better control.  Then you would only need
an agreement with them  - an amendment to the lease contract -  to
allow you to book the rent from the one account to the other.

Myoarin