PayPal Fees Allocation

SteveSteve Member Posts: 4
edited March 2017 in Reckon One
Each month we import a PayPal csv file into Reckon One, however we cannot work out how to automatically account for the PayPal fees imposed on sales income.

There are three columns for amounts in the PayPal csv file.  Gross, Fee and Net.  These columns are mapped as Ignore, Debit and Credit respectively.

The data is successfully imported, and the Fee and Net amounts are totalled to reflect the gross sale amount.  This shows up in the 'Money In' column in the PayPal account in Reckon One.

Is there a way to automatically have Fee + Net amounts allocated to sales, and the Fee (Debit) amounts allocated to the 'Bank Charges:PayPal Fees' account in the CoA?

Thanks in advance for your assistance.

Steve

Comments

  • QwertyQwerty Member Posts: 405
    edited March 2017
    07/09/2016

    Hi Steve,

    Yes if you use the Paypal solution available in R1 as that happens automatically & you don't need to import the CSV (assuming that the PayPal payments "receipts" are due to invoices issued via email through R1).

    This link explains the work flow
    https://community.reckon.com/reckon/topics/reckon-one-enhancements-8-july-2016-47lc0p3w0x5v2


    However, if the PayPal solution in R1 is not suitable for your situation & you opt to manually import PayPal CSV's then no I believe it would be a manual process unless anyone else has a suggestion.
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