Another quick question, in my accounts section I am seeing a PayPal account, a current account and Debtors Control Account. In the trial balance section it is adding up everything under the category General Sales, this is effecting my figures as all the Paypal data has been transferred automatically into my current account view so the figure is a lot higher than what it should be. What am I doing wrong?
It seems that in my current account all my PayPal transactions have been duplicated and I am not sure why
When you refer to your “Account section”, would I be right in thinking that you’re referring to the Chart of Accounts (COA)?
Yes, that is what I menat the chart of accounts section
Thanks for confirming!
This sounds correct. Your PayPal and Current account entries represent your bank accounts. Both of these should be visible from your banking page too. In fact, if you drill down from the Chart of Accounts (COA) page, there should be a blue “View Statement” button at the top which would take you to the bank statement view.
Your debtors control account is basically any invoices you’ve issued but haven’t been paid yet.
This would be based on your invoices. Each invoice line can be changed to various nominal codes. By default, this is General Sales, but it can easily be changed by clicking on the little cog when creating or modifying an invoice:
The bank balance of your PayPal account wouldn’t directly affect your General Sales balance, especially if it’s affecting your currency account too. Each transaction has 2 entries, known as the double entry bookkeeping method (which is what QuickFile uses); for every credit, there’s a debit. So a transfer from your PayPal account to your Current account has two matching entries in each account - it’s not possible for it to affect your sales too (which is good news! )
The transfers however for PayPal can be switched off. There’s more on this here.
I’m not sure why would be? With the PayPal feed, QuickFile would add all entries to the attached bank account, and only that bank account. Have you imported a CSV file at all?
No, I’ve not uploaded any csv files just the bank feed data from the Chrome plugin and the direct payments from PayPal
The direct payments - are these from the PayPal feed, or from clients logging in and paying via PayPal (within QuickFile)?
If it’s that clients are paying using the link within QuickFile, it’s likely it’s set up to use the wrong bank account. If you go to Account Settings >> Management payment options, you can change where these payments are recorded:
This is separate from the PayPal feed we operate, so it won’t affect that.
If it’s deposited to a separate bank account to the one the PayPal feed is running on, it will still be picked up causing the duplication.
Hopefully that helps!
The account selected is the current account, should this be set to no account?
It’s up to you how you treat it. Usually this would be set to your PayPal bank account so it reflects your actual PayPal account balance.
Ok, thank you. the trial balance seems really high as I have not taken this much that is hown
The trial balance would be for a specific time period, similar to the Chart of Accounts (the dates are shown at the top).
Unfortunately, I’m not able to assist with individual accounting queries, but I would suggest checking things like your bank account balances and ensuring they reconcile all OK.
Ok, the main thing is the costs which are doubled. Is there anybody that can have a look at my account and see what has happened?
I’ll send you a private message shortly to get some more details from you, and hopefully point you in the right direction from there.
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