What is necessary to enter in bank transactions please?

Carlee
Carlee Member Posts: 1

Hi, I’m helping out a family member with setting up and running their business using Reckon One. (I use Reckon Hosted and my business is completely different to hers so I’m struggling!)

She sells clothing etc on an internet platform similar to EBay and Paypal takes out their fees too. Non inventory too.

So my question is, can it be left simply as showing in the bank statement the Palpay Fees entered into Expense and Palpay Payment in Sales? Where in fact prior to the PayPal payment hitting the account the 10% sales fee from the selling platform has already come out from the customer payment.

Also the PayPal fees come out of the PayPal account where her shipping payments for Aust Post are drawn from! So confused right now - maybe she should see a bookkeeper to set it up and explain it all!? 😬🤔 Thank you!