How to record transactions with PayPal fees?

[Derek Atkins]

Buddha Buck <blaisepascal at gmail.com> writes:

> On Mon, Jul 8, 2013 at 12:12 PM, Derek Atkins <warlord at mit.edu> wrote:
>
>     How does Paypal choose the amount they take?  If it is a percentage then
>     you can just set up a tax table that you can apply in your invoice.  If,
>     however, it's from some "table" then it'll be more complicated than
>     that.
>
> For me, PayPal charges 2.9% of the gross amount, plus $0.30.  So for a payment
> of $20, they charge ($20 * 0.029) + $0.30 = $0.58 + $0.30 = $0.88, so we
> receive $19.12 of the $20 paid.

Okay, so you would need a two-part tax-table, one part is the 2.9%, and
the other is the $.30.

-derek

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
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