How to Record Freight Brokerage Fees
Recording commissions payable to shipbrokers for negotiating and securing freight or charter contracts.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Brokerage Commission Expense | Debit | 3,500.00 | - |
| Accrued Expenses | Credit | - | 3,500.00 |
💡 Accountant's Note
Brokerage is usually a percentage of the gross freight and is recorded as an expense when the freight is earned.
Practitioner & Systems Framework
💻 ERP Architecture
Calculate automatically as a percentage of the Freight Revenue account in the general ledger.
⚠️ Audit Flags
Unpaid brokerage commissions older than 90 days following voyage completion.
📄 Required Documentation
Fixture Note and Broker's Commission Invoice.
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