Best way to manually add a paypal transaction and record fees

Options
Michelle Youl
Michelle Youl Member Posts: 12 ✭
edited August 2016 in Reckon Accounts (Desktop)
I'm new to Reckon and have set up the connection with paypal, but how do I go about recording a historic transaction from earlier this month?
I tried downloading CSVs etc from paypal and uploading them manually, but nothing ends up showing up when I try to do this.
I've worked out how to record the payment against an invoice... but how do I then record the corresponding paypal fee so that everything balances properly??

Comments

  • Jacqui Allen
    Jacqui Allen Member Posts: 238 ✭✭
    edited August 2016
    Options
    Option 1 - create a new bank PayPal clearing, receive pmts to this, trf net proceeds to actual bank then write a cheque to bank fees Pp clearing is now zero.

    Option 2 - receive pmt to undeposited funds, make deposit allocate fees to say a fees clearing acct "cash goes back to", process a jnl to clear fees clearing.
  • Amit_8296077
    Amit_8296077 Member Posts: 8 ✭
    edited August 2016
    Options

    Hi there,

    I am very small business owner; Once I withdraw money from PayPal to my Bank Account (this amount will be net after PayPal took their merchant fees)

    What's the best way to record flat 3% fees when I allocate receipt from my Bank Acc to Customer (PayPal) and GL (Sales)

    Thanks

    Amit

  • Jacqui Allen
    Jacqui Allen Member Posts: 238 ✭✭
    edited August 2016
    Options
    refer to option 1 above

Categories