We have just received our first paypal payment and the link between quickfile and paypal seems to of worked perfectly as the clients account is now showing as paid. My question is the deduction paypal make as the handling fee how does quickfile handle this as I was due £660 but we will receive in to our bank around £630.
Hope this makes sense.
This is a very common scenario in accounting and has been covered many times, you may find the guide helpful:
Handling Payments from Merchant Accounts
If you also refer to the similar posting with regards to processing Direct Debit Fees for GoCardless, the concept is the same although change the name of the merchant account to “PayPal Merchant Account”
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