Correct way to process Paypal and Gocardless transactions

Accounting
1

Hi everyone,

Could anyone shed some light on the correct way to process GoCardless and PayPal transactions?

When a payment is received against an invoice through one of these payment providers they obviously take a cut. This then means that the actual amount received is less than the amount invoiced. QF then doesnt let me allocate the payment to the invoice.

Been trying to get my head around it for ages but getting nowhere. Hoping one of you may be able to help.

Many thanks,

Oliver

2

Hi @Oliver_Nash

You would essentially end up with 3 transactions:

  1. Money in (full amount)
  2. Money out (fee)
  3. Money out (full amount minus fee)

There’s a more detailed explanation in our knowledge base:
http://community.quickfile.co.uk/t/handling-payments-from-merchant-accounts/8865

Let me know if you need further help

3

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