adidyk

In split funding there is one buyer and two or more sellers. The funds are distributed to each of the sellers based on predetermined rules.
My question relates to the accounting practices that must be followed when recognising the flow of revenue to the sellers.
Does one of the sellers have to count the full revenue and treat the revenue to the other sellers as expenses? Or is it possible to arrange that each seller only has to count their split from an accounting rules persepective?
My scenario includes a VAT registered seller and a non-VAT registered seller, they are coming together to offer a single point of sale but neither wants the others revenue on their books or otherwise counting towards their business turnover (because of tax implications).

Sergey Kad answered