Matching Invoice to Net Paypal Value, Not Gross

Support
1

Hi there,

I have a bunch of invoices that have been paid by Paypal. The invoice value represents the amount after the Paypal fee is taken off, but the amount that comes through in the Paypal is the value with the Paypal fee. Any ideas how I can match the two together without adding the fee to the invoice value? The option it gives is to create a payment on account against the customer but this isn’t what I need.

Thanks

2

http://community.quickfile.co.uk/t/accounting-for-income-from-a-payment-service-provider/8870

1 Like
3

Hi Lurch,

Thanks for the response. Not sure if I’m being really dense but still not sure how to deal with the fact that the invoice value is lower than the amount recorded in the Paypal feed, thus creating a remaining balance.

Ben

4

You would normally add the fee to the invoice value, tag the incoming payment on the PayPal merchant account to pay that invoice and tag the fees to a purchase. The money arriving in your bank account (which is net of the PayPal fees) is simply treated as a bank transfer.