Is there a way to reflect the different profit margins depending on mode of payments?
Here’s my problem, if the customer purchase directly from me, the profit is 25%. However, if the purchase is made through an app (e.g. GrabFood) the app, I will only get 15% profit and the 10% goes to the app company.
@MNLCream, transactions are not entered based on profit margins, but on actual pricing and amounts paid to various parties. If processor fees are involved, they need to be separate line items. How those separate line items are entered depends on the actual mechanics of the process, who assesses the fees and to whom, and how they are paid. There have been many discussions about such situations on the forum. Most relate to arrangements with organizations like PayPal or Amazon. Search for those terms to turn up options.
If you don’t find your answers, you need to provide a very detailed description of how a typical transaction works and everything that happens.
You are right that your net profit is less when using the app. The gross profit / margin remains the same because your sales price and your cost of goods sold remain the same. The difference is the additional expense you incured because of payments to GrabFood. In accounting you should thus add a line that expends the extra expense. In the summary you could then click on the amount of GrabFood to see how much you expended to them and as such get an idea how much this has affected your net profit.