When I’ve integreated it initally, its caused the balances between Quickfile and my bank account to be different.
You can see the 1st discrepency here:
Bank Acc:
Quickfile
The diffference between them is the 63p which is being pulled in from paypal
There’s loads more after this one as well.
If this multi currency otion doesn’t work do I need to remove the paypal account and start again with tagging it?
Multi-currency is generally supported on QuickFile in so far as you can create sales and purchase invoices in currencies other than GBP, you can also pay these into GBP bank accounts or accounts denominated in any other currency, e.g. USD, EUR etc.
The PayPal feed however cannot fully handle multi-currency transactions as the PayPal feed does not supply the exchange rate and this is applied several days later. This is something I’ve explained in more detail in other threads. For that reason the PayPal fee will only import GBP entries, any other items will be ignored.
The feed becomes very problematic when a big percentage of your PayPal income is in USD, EUR or some other foreign currency. If you only have occassional foreign currency entries you may just be able to fill in the gaps manually.
As for breaking down the income you’d just create a single invoice with multiple lines correlating to the sub-amounts collected, e.g. normal sales, affiliate commission etc. The invoice would match the total pulled from the PayPal report and you’d then just pay this invoice into the Paypal merchant account. This leaves you with no manual reconciliation.
You don’t need to delete the PayPal merchant account you just need to get it reconciled to a specific date (perhaps a month end) then thereafter just log sales periodically to a single invoice.
This bulk logging process is covered in more detail here.