When your company rents out items through Hygglo, you need to record both the rental income and the commission fee paid to Hygglo in your bookkeeping.
Recording Income
Your company’s income is the total rental price paid by the customer. This amount includes VAT and excludes Hygglo’s commission. Hygglo deducts a commission fee (16% + VAT) before transferring the remaining amount to you.
Recording Expenses
Hygglo’s commission fee is a business expense. You should record this as a cost, with incoming VAT.
Example Transaction
Bengt rents an ozone generator from Rentout AB for 200 kr. Rentout AB should record the following transactions:
Income: 160 kr (excluding VAT)
Outgoing VAT: 40 kr (200 kr total - 160 kr net)
Expense (Hygglo’s commission): 32 kr (excluding VAT)
Incoming VAT (on Hygglo’s commission): 8 kr