Paypal Fees on end of year

[OCDTim]

Hi.

I wasn't 100% sure on which category this should go in.

majority of our payments will be done via paypal, so this will incur charges. from our actual sale price.

Now on the Spreadsheet with our incoming outgoings we have it built down monthly for payments in and out.

For payments coming from paypal do we just enter the fee after Paypal charges(eg £12.30) on our sales or do we enter the full price(eg £12.95) and then put in the charges price(eg.£0.70 on outgoings list.

many thanks
Tim Price

 

[David Griffiths]

or do we enter the full price(eg £12.95) and then put in the charges price(eg.£0.70 on outgoings list.

is the way to do it

 

[Rolo Tomasi]

You might want to look at using an accounts package rather than Excel for recording the transactions. Many of the online packages such as Xero, Kashflow and Accounts Portal have Paypal integration built in which automatically allocate the sales and charges to the correct places.