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 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. This can be done in one of several ways, depending on how you want the accounting to look and how many transactions you are dealing with and therefore what's easier for you:
- Add up all the fees from your PayPal statement and manually enter a single journal to debit your PayPal fees nominal code and credit your PayPal bank account
- Use the PayPal log to automatically create just the fees . This will create a journal per transaction to debit your PayPal fees nominal code and credit your PayPal bank account. Since the original payment has already been accounted for this part doesn't need to be done
How to enter a journal
- Go to Accounting > Enter Journal .
- The date defaults to today's date, to post to a prior date you can change it. The date must be an open accounting period.
- Use the Details section to write a reason for the journal; really useful if you need to investigate the changes down the line.
- If you're posting entries to nominal codes Accounts Receivable (1100) or Accounts Payable (2100) always enter a Contact ID to connect the entry it to a customer or supplier account.
- On the first row select the nominal account for the entry and then enter the amount in either the Debit or Credit column.
- If tax is applicable on the value select the Tax Code. By entering a tax code the value will appear as a balance on your Sales/Purchase Tax report.
- Continue to enter journal lines, click the Add Row button to add more lines.
- When the total debits = total credits click Save Journal to post it to accounts.
The journal will immediately update the relevant accounts.
How to create PayPal fees
PayPal fees can be entered as a single figure by using a manual journal. Alternatively, the PayPal log can be used to create a journal per transaction:
- You will need to have activated the PayPal log at Settings > Brightpearl Apps > PayPal .
- Go to the PayPal log via Accounting > List bank accounts and clicking the View PayPal Log link against the PayPal bank account.
- Select all the transactions for which the fees need to be created.
- Click the Create accounting transactions button.
- In the pop-up window check the box to transfer fee amount from PayPal account to: Note that you should not select the check box to create a bank receipt where handling payments related to sales channels since this part of the transaction will already have been created from the channel.
- Select the nominal code where PayPal fees should be recorded.
- Click the Create transactions button.
A journal for each transaction will be created to debit the selected nominal code and credit the PayPal bank account.