Quickbooks Adjustments?

[LindyTaylor]

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.

[Irene9001]

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.

[LindyTaylor]

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.

[Irene9001]

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

[karlandrew]

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

this could be tedious yet reliable..

[BhavKaur]

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.