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PayPay Fees

Good afternoon.

I have started selling goods via eBay with PayPal as a payment method but unsure how to process PayPal fees.

I have already created a merchant account in QuickFile and income will be tagged to it. I am assuming I raise a purchase for the PayPal fees and tag it from the PayPal account and the balance can be paid into the current account. Is this correct?

Also, do I raise a purchase for every individual PayPal transaction (how PayPal take their commission) or can I just create a total per month?

Thanks

Ash

you may find this useful Handling payments from merchant accounts

unfortunately this does not answer the question I raised.

My query is around processing PayPal fees not income. :slight_smile:

It’s under the “other considerations” section at the end:

So what you end up with is a payment in to your PayPal merchant account for the full invoice amount before the PayPal fees are deducted, a payment out for the fees tagged to a purchase, and if/when you withdraw the net balance to your current account that is just tagged as a bank transfer.

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Hi Ian

Sorry what I meant was, could I do a weekly/monthly calculation for the fees taken by PayPal or would it need to be individual.

Whichever is easiest for you.

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