Paypal transaction split confusion
Mike or Penny Novack
mpnovack at mtdata.com
Sat Apr 16 19:16:14 EDT 2016
On 4/16/2016 4:58 PM, trythis wrote:
> That helped!
> I made an invoice for 12 items at $5 each and apply a payment for each
> paypal transaction but since part of the money is lost to paypal fees the
> invoice will not be completely paid, so not sure how to handle that.
> If the donor wanted a receipt it would show an incomplete payment which
> isn't true, and I think we have to show any fees that reduce the donation,
> not sure.
Look, this ISN'T really a gnucash question << your problems are with the
fundamentals of accounting -- and tax law in addition >>
Your donor made a donation (to your organization) of $5. The fact that
your wildcat bank charges you a fee for deposits being made to your
account is YOUR expense (an overhead expense, "bank charges"). While I
don't know of any (real) banks charging for deposits these days, when I
was young there most certainly usually was a fee per check deposited
which banks began dropping about the time I got old enough for my own
checking account.
There may be other overhead expenses associated with receiving a
donation. Suppose your organization sends out acknowledgement letters.
Do you think you should be deducting the cost of the stationary, the
stamp, even a proportion of the pay of an employee tasked with creating
and sending these letters out?
Michael D Novack
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