Paypal import help and purchases input

Accounting
1

Following on from my other question

I have set up a Paypal feed on my accounts but the money coming in seems to equal the money going out even tho I am (mainly) buying. I assume that I may have set up the import wrong. Can anyone help?

I also would appreciate help with adding purchases in the easiest way possible. It seems very long winded to have to have a supplier for each amount as nearly every invoice is from a different company. Is there a way of adding them relatively easily?

Thanks
Jon

2

Are you factoring in the transfers from your current account here? If you’re mainly buying I would expect the balance to fluctuate around zero. When you make a payment the funds come in from your card, then go out again to the supplier.

You don’t need supplier record for every single supplied. What I do is create the following supplier records:

  • Generic fuel
  • Generic sundries
  • Generic cleaning
  • etc…

I then lump similar expenses under the generic supplier record for that type. In the item description you can include the supplier name if you wish.

3

I see, so it automatically account for the bank transfer to Paypal. That will be good when I import the bank details. They are from a cooperative business account. Are there any plans for a feed to be setup for cooperative banking?

Thanks for your help. I’ll give it a go.

Thanks
Jon

4

Regarding Coop see here.

http://community.quickfile.co.uk/t/cooperative-bank/1814

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5

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