Accounting for PayPal Fees

PayPal payments taken via sales channels will download into Brightpearl directly from the sales channel, and not from PayPal. This will mark sales orders as paid and create the accounting for the payment in full, without accounting for any PayPal fees deducted.

You will need to manually account for your PayPal fees in Brightpearl.

PayPal fees

PayPal fees are not accounted for on PayPal payments downloaded from sales channels (such as Magento or eBay), since the payment information is downloaded directly from the channel and not PayPal.

You will therefore need to ensure that the PayPal fees are accounted for for those transactions. 

The best way to record the fees is by manually entering a single bank payment, which will debit your PayPal fees account code and credit your PayPal bank account.

paypal fee adjustment

How to enter PayPal fees

  1. Go to Accounting > Expenses/Bank payment.
  2. Set the bank account to be your PayPal bank account.
  3. Set the nominal code to be your PayPal fees code.
  4. Set the date to post the entry to.
  5. Enter any relevant details relating to the fees.
  6. Set the appropriate tax code
  7. Enter the fee amount
  8. Click "Enter payment"

The journal will immediately update the relevant accounts.

Learn more about bank payments here.

 
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