Setting up Paypal
Use the following procedure to setup the Paypal Account details:
|1.||Create a Paypal debtor account. Use create new customer and check Create debtor Account.|
|2.||Add a "P" type Paypal customer in the Customer Type file. (Debtors/Maintenance/Customer type)|
|3.||In the debtors master file (Banking tab) select 'P' as the customer type to indicate a Paypal type customer.|
|4.||Create a "Paypal Fees" General ledger account. Use the "bank fees" account as a guide. Setup account Master (gl/maintenance/GL Account master) then GL Account Chart (gl/Maintenance/Gl Accaount Master)|
|5.||Create a "P" type E-Commerce found in Debtors Maintenance Using the newly created Paypal debtor as the nominated debtor and the newly created Fees GL No.|
When performing a debtors receipt using a Payment type "P" (Transferring from Paypal to the bank) then the debt will be transferred from the debtor to the Paypal debtor without affecting the bank account. A debtor invoice (AR_INVOICE) record is created in the Paypal debtor but no Invoice record created to print the invoice. YOU CANNOT PRINT ANY INVOICES FROM THE PAYPAL ACCOUNT.
The Fees are automatically calculated as FEE details in the E-Commerce file and the resulting fees are are deposited in the fees account and the difference between the debtor amount and the fees will be deposited into the bank account. The fees associated with each invoice amount processed is displayed in the fees column (Previously the RCTI column).
DO NOT PROCESS A PAYPAL RECEIPT USING A TYPE "P" PAYMENT.
You can review the E-Commerce ("P") receipt by viewing the Paypal account inquiry.
You can now use the Paypal debtor account to reconcile your Paypal statement.