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 Post subject: Paypal Reconcillation
PostPosted: Thu Feb 23, 2006 6:13 pm 
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Joined: Thu Feb 23, 2006 10:33 am
Posts: 3
Is anybody using Checkbook to reconcile their Paypal account ?

I see one difference in the QIF files in that they have the split
transaction.

They have 3 amounts in each QIF record. The total amount paid, their
fee, and my portion of the amount paid.

The total amount paid would need to get applied against my A/R. Their
fee needs to end up as an expense in MYOB. My portion of the money
needs to be tracked and shown as part of a sweep into my checking
account. That is if I get 5 payments in a day, I might sweep that
money into my checking account at the end of the day.

So my bank shows a deposit of the lump sum, and I need to prove that
the lump sum contains the 5 payments I think it does.

I get confused thinking this through.

So if anybody is already doing something like this with Checkbook, I'd
love to hear about it.

Thanks

mark


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