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Jim2® Business Engine Help File

Navigation: Jim2 Functions > Accounts

Handle Paypal (and Similar)

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1.Add a new GL asset account called Paypal and select Type Detail Cheque Account Postable.

paypal account

2.On the ribbon go to Tools > Setups > Payment Types and add Paypal.

Paypal payment type

3.Set up a 6-XXXX expense account for any Paypal fees charged, using tax code N, as these charges are a reportable expense with no GST.

paypal fee acc

4.You can also set up a Paypal vendor card file.

 

The simplest way to handle Paypal fees is to:

1.Receive the full amount, including the Paypal fee, against the debtor.

2.Make a cheque entry from the Paypal account to the 6-XXX Paypal fees account.

paypal fees

3.If required, you can transfer the rest of the amount from the Paypal account to another bank account.

 

Other types this refers to are epay, bartercard, integrapay, etc.

 

Further information: