Proper Accounting for Product Sponsorship
We are an S-Corp Manufacturing company. We are starting to contract individuals as "sponsors" of our products. We have their W9 to provide them a 1099 at the end of the year for the total amount we sponsored them. I need to understand on the accounting side (QuickBooks Pro) how to account for the sales discount in this situation. I have currently set it up as a Marketing expense. In this way it shows the full value of the sale on our books even if we collected nothing but then that value as a marketing expense. I just need to know if that is correct or if we should account for it differently.
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