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Product Ideas

Bank transactions: Split payments for negative values

5Posts

15Kudos

0Solutions

5 Posts
User
New Zealand

Our main source of income is PayPal. We earn money through an online service, and withdraw from PayPal to our bank account once a week. However, since PayPal takes their fees as the money is paid from the customer, the amount we see in our bank account is only half of the story. It represents the total income, less the paypal fees.

 

Here's an example:

 

Say we receive $1000 into our account. I need to be able to split the transaction like this:

 

110% = $1100 = Revenue

-10% = -$100 = PayPal Fees

 

Currently, the transaction splitting system doesn't allow for this and we have to use journalling.

 

"PayPal transaction splitting"

Current Status: Done
Last Changed: September 2018

Hi Everyone


MYOB Essentials will allow for the user to allocate a transaction to include a negative value. For example:

 

Attachment.PNG

2 Comments
Steven_M
45,180 Posts
Former Staff

Hi Everyone


MYOB Essentials will allow for the user to allocate a transaction to include a negative value. For example:

 

Attachment.PNG

LynR1
1 Post
User

But this negative value is basically a credit in the relevant expense account rather than a debit, right? Like getting credited back for an expense that was payed. How do we change this?