Paypal transaction split confusion

[Mike Evans]

On Sat, 16 Apr 2016 21:07:42 -0700 (PDT)
trythis <grahamlane at gmail.com> wrote:


> I feature suggestion: make an addition to the pay invoice page.   Add an
> additional box that can be a bank transfer fee with an account choice box. 
> This would work for paypal, square or foreign transaction fees.
> 
> Anyways, thanks!
> 
> 


You could (ab)use the business tax table for this. 

Providing the amount you receive is always $5 and the amount PayPal take is always $0.41.
Set up a Sales Tax table called PayPal 0.41 (or similar) and set the type to Value = 0.41 then set the account to be liabilites:payPal, or expenses:PayPal.

Now produce your invoice for £5 and set the Tax Table to PayPal 0.41 and check the Tax Included box.

An example below:

Date		Description	Qty	Net Price	Tax Amount	Total Price
2016-04-17	Stuff		1	£4.59		£0.41		£5.00
			Sub-total	£4.59		£0.41		£5.00
							Amount Due	£5.00

You can change "Tax Amount" to read "PayPal Fee" in the invoice report options.

When you post this and get paid, the £5 goes into your back account (or cash tin) and the £0.41 goes into liabilites:payPal, or expenses:payPal.

Now since PayPal have already deducted the 0.41 and you actually never get it you have to edit your bank or cash-tin split to show 0.41 going to liabilities:PayPal  or expenses:payPal with appropriate adjustment to the top line of the split.

It could be a feature request to be able put a formula in the tax table such as: 0.20 + (amnt * 0.034), or whatever the PayPal rates are in your locale. Code patches are always welcome.

If you don't want the customers to see the fee column then some hacking of the invoice.scm or taxinvoice.scm would be needed.

Mike