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Share your ideas for improving MYOB Essentials Accounting. Vote on ideas and discuss them with the MYOB product development team.

MYOB Essentials

Bank transactions: Split payments for negative values

JeremyTM

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"

1 Comment
MYOB Moderator Steven_M
29,269 Posts
MYOB Moderator

Hi Everyone


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

 

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