FrontAccounting forum — Paypal Payments

Re: Paypal Payments

null@example.com (tom) — Fri, 29 May 2009 02:03:01 +0000

I am still not comfortable with this... there is a big difference between a cash incentive I give ("Prompt Payment Discount") vs a Hard expense I have to pay no matter what... Bank Processing fee... be it Paypal fee, or wire transfer fee.

tom

Re: Paypal Payments

null@example.com (tom) — Thu, 28 May 2009 14:38:19 +0000

It looks like it will work ok for me.

For Paypal Payments:

Enter the NET payment in the Amount: field
Enter the Paypal Fee in the Amount of Discount: field

thanks
tom

Re: Paypal Payments

null@example.com (tom) — Wed, 27 May 2009 19:49:53 +0000

That may work, I will look closer at that.

tom

Re: Paypal Payments

null@example.com (joe) — Wed, 27 May 2009 19:20:03 +0000

One way of doing this is to use the Customer Payment in Sales tab. Use the discount field for this $2,36 and the amount field for rest ($68,5-$2.36),
Ok it will use the Discount Taken account (which is an expense account), and the bank account is reduced by this discount amount and you have all 68,50 for allocation. Maybe this is a solution?

/Joe

Re: Paypal Payments

null@example.com (tom) — Wed, 27 May 2009 18:59:28 +0000

Not really.

The customer has an invoice for $68.50 he pays $68.50, so I will expect to allocate that entire payment to his account.

The very act of receiving the $68.50 will incur a processing fee of $2.36 (let's say that is 3% discount rate + $0.30/transaction)
That is a expense that has nothing to do with the customer.

tom

Re: Paypal Payments

null@example.com (joe) — Wed, 27 May 2009 18:43:10 +0000

No, it won't work by Bank Payment either. I think you mean that we should include an editable field between the Total Allocated and Left to Allocate, right? I will ask Janusz, if he could include this in release 2.2.

/Joe

Re: Paypal Payments

null@example.com (tom) — Wed, 27 May 2009 15:18:51 +0000

I guess I could, but I like to keep things simple.

I would likely pick the wrong account code and really mess up the books...

I figured it might be a common enough need to warrant an extra field on the page.

I guess I only want to have to THINK about account codes when I need to be the accountant but
more importantly, I don't want to have to think when I am the salesman or getting payments

tom

Re: Paypal Payments

null@example.com (joe) — Wed, 27 May 2009 13:39:13 +0000

Hi Tom,

Have you tried to do the payment in GL, Bank Payment. Here you can have an extra entry line with bank charges. Right? The same way with Bank Deposits.

/Joe

Paypal Payments

null@example.com (tom) — Wed, 27 May 2009 11:21:19 +0000

I accept payments basically 3 ways

1) Credit Card
2) Paypal
3) Good old cash/check

#1 and #2 have expenses associated with them

#1 I get billed monthly and can add a misc expense

#2 gets fees with each transaction

So while I want to allocate 100% of the payment to the customer, I also want to enter a 'Bank Charges' item for the fees.

Would it make sense to add a field for this in sales/customer_payments.php ?

A lot of people do use paypal or other payment services.

#3 of course is no problem.

tom