Pay Pal reconcilitaion

Zappy

Good afternoon

The client received an advance on Paypal sales.

He has subsequently paid back a lot of it.

When I look at the Paypal account I cannot see a way to reconcile what has been applied to the balance to arrive at the current figure

Somehow the payment is netted off gross sales and the balance is transferred to the bank account

I cannot see what the gross sales are

hepl

Zappy

Acctd4

Hi @Zappy

Has the client's Paypal account been set up in RAH as a bank account ? (I would normally use a CC account as a CC reflects more accurately - eg as a liability, rather than a negative asset, on the Bal Sheet - but due to the "Advance" situation, in this scenario, a bank account would probably be more appropriate as you can Make Deposit the advance amount directly into it)

I always use a Clearing account for payment platforms, so it can be used to both "receive" (customer sales/deposits) & "make" payments (fees deducted) … then Write Chq (deposit) the net amount to the main operating account.

Have they recorded all components (as above) - It sounds like they may not have recorded the fees deducted, hence the discrepancy ?