Paypal transaction split confusion

Derek Atkins warlord at MIT.EDU
Tue Apr 19 12:48:45 EDT 2016


Hi,

trythis <grahamlane at gmail.com> writes:

> I haven't begun looking at adding the Square transactions which will have a
> different rate for fees.  
> entering the transactions as invoices first is the fastest.  Once the
> transaction is in the paypal account, its easy to add the split for the bank
> fee.  If I dont click on another account expense:bank fee is already
> highlighted so I dont have to search it out or I can just use the account
> code.

Well, your other option is to do this in two steps:

Invoice:
   Credit Income $5
   Debit  A/R    $5

Then payment:
   Credit A/R     $5
   Debit  Bank    $4.59
   Debit  Expenses $.41

To enter the payment you have two options:

1) Create this split transaction manually and then apply the payment to
   the invoice, or

2) Process Payment, and then manually split the payment transaction
   after-the-fact.

If you choose #2, make sure you don't change the A/R split or your
A/R accounts will go out of balance.

> The only downside is that all of this renders qif or aqbanking useless
> unless there is a way to generate an invoice within that.  (surely not,
> since its backwards to use invoices on pre-payed pledged contributions.)

Correct, there is no way to use any of the standard importers to create
invoices (except, of course, the invoice importer -- but that's not QIF
nor AqBanking).

> I wish I was a programmer, I would love to build a pledge income system. 
> Instead of invoices, it would be for pledge receipts and work exactly like
> the invoice structure.

No time like the present?  ;)

-derek

> Derek Atkins wrote
>>>
>>> I think I have it figured out>
>>>
>>> IN the paypal account the split reads:
>>>
>>> Assets:paypal 4.59 increase
>>> Expenses:bankfees* 0.41 increase
>>> temp account**: 5.00 decrease
>>>
>>> Then I apply the payment to an invoice, and this is what solved the
>>> problem;
>>> you can change the amount paid when selecting the customer and accounts
>>> payable account.  I changed it to $5.00 and poof, invoice works right,
>>> accounts payable works.
>>>
>>> The account Income:project:X increases $5.00, paypal account is increased
>>> by
>>> $4.59, and bank fees are increased by 0.41.  I can put the bank fees in a 
>>> sub account like Expenses:bank fees:project:X or Expenses:Project:X:bank
>>> fees  Either way is useful for reports.
>>>
>>> *the goes to imbalance and I have to return it to a bank fee after
>>> processing the payment.
>>> **This gets rewritten anyway  and converts to accounts receivable through
>>> the invoice system then the income account increases from accounts
>>> receivable.   
>>>
>>> This is a very complicated way to show that we received $5 but I can't
>>> see
>>> anyway better.
>> 
>> What I would recommend, if you insist on using the business features, is
>> using a Tax Tables to handle the Paypal fees and then set it to
>> "TaxIncluded".  So you would mark it "TaxIncluded" which is similar to
>> what you get in Europe, where what you see is what you pay, versus the
>> US where the Tax is added on in addition).  This changes the internal
>> math from the US-style "Subtotal + Tax = Total" to the Europen style of
>> "Total - Tax = Subtotal".
>> 
>> The hard work is going to be figuring out the proper Tax Table
>> configuration to get this to work.  I don't know Paypal's fee structure
>> sufficiently, and I do not believe the current tax tables can handle a
>> graduated tax structure.
>> 
>>> Thanks
>> 
>>> Please remember to CC this list on all your replies.
>>> You can do this by using Reply-To-List or Reply-All.
>> 
>> -derek
>> 
>> -- 
>>        Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
>>        Member, MIT Student Information Processing Board  (SIPB)
>>        URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
>>        
>
>> warlord@
>
>>                         PGP key available
>> _______________________________________________
>> gnucash-user mailing list
>
>> gnucash-user@
>
>> https://lists.gnucash.org/mailman/listinfo/gnucash-user
>> -----
>> Please remember to CC this list on all your replies.
>> You can do this by using Reply-To-List or Reply-All.
>
>
>
>
>
> --
> View this message in context: http://gnucash.1415818.n4.nabble.com/Paypal-transaction-split-confusion-tp4684294p4684336.html
> Sent from the GnuCash - User mailing list archive at Nabble.com.
> _______________________________________________
> gnucash-user mailing list
> gnucash-user at gnucash.org
> https://lists.gnucash.org/mailman/listinfo/gnucash-user
> -----
> Please remember to CC this list on all your replies.
> You can do this by using Reply-To-List or Reply-All.
>
>

-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available


More information about the gnucash-user mailing list