Ive noticed that quickfile only puts in paypal total payment and this give wrong balance as the fee are still to be deducted eg:
Total amount:
£65.57 GBP
Fee amount:
-£2.43 GBP
Net amount:
£63.14 GBP
Do you have to put in the fees manual or am i doing it wrong??
You shouldn’t connect the feed directly to your current account. The fees should be downloaded gross but into a dedicated bank account (of type merchant account). The gross amounts are then imported here and any withdrawals to your bank account are treated as a bank transfer. If you’re using the automated feed then any charges levied by PayPal will be automatically applied.
Also I think the following guide may be helpful:
http://help.quickfile.co.uk/main/1/accounting_for_income_from_payment_service_providers.htm
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