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Quickbooks Adjustments?

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  • Quickbooks Adjustments?

    Hi

    I've few questions regarding to quickbooks. In our organization some members suggested that include sales figure at just end of the day instead of including every created invoice and sale. Somewhat I agreed with them, as we have a large customer base. Any way my concern issue is, transaction through PayPal have the fees deducted immediately so when I try to patch up the transaction with the bank it says over payments and will not allow the transaction. How do I correct this so the transaction adjusts? Additionally credit card transaction matches, due the fees are not even deducted until the end of the month.

  • #2
    Personally I'd like include things at the end of the month using PayPal account statements. For the merchant account I just establish it of the statements and the total coming in. I do not give merchant account it is own bank in the system, as the assets go to the company account.

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    • #3
      Actually we transfer the daily assets from PayPal to the company bank account every day so our PayPal and Merchant account assets are both sitting in the company bank account.

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      • #4
        Then you should do a manual journal entry for the fees and your transfers.

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        • #5
          Originally posted by Irene9001 View Post
          Then you should do a manual journal entry for the fees and your transfers.
          this could be tedious yet reliable..

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          • #6
            One thing which you can do is host your QuickBooks license (whatever license you have basically) in any cloud server and then integrate payroll-based software like PayPal in your QuickBooks server. I think this will mitigate your issues regarding QuickBooks.

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