Invoice paid via Paypal - How to create merchant fees

customlogoshop

Hi,

I created an invoice via Wave and the client paid via PayPal. The invoice was for £124.50.

The PayPal funds that appear on my bank statement is £120.07 leaving me with merchant fees of £4.43.

When I select the £120.07 that appears on my statement, I try to mark it as the invoice of £124.50, split the deposit with merchant fees to make it £120.07 but is just says it should not exceed the sum of £120.07.

Unsure how I mark the invoice as paid so it shows the total of £124.50 with merchant fees taken off. Can anyone help please?

Thanks

customlogoshop

Need a solution asap trying to get my accounting done before xmas

customlogoshop

Hello?

theghca

Is there a solution for this yet? I'm having the same problem. Payments via Wave automatically account for Merchant Fees but payments from other means doesn't. How can I reconcile the difference as merchant processing fee? Thanks!

customlogoshop

Hi

I found that I was adding a merchant fee in a way where it was only adding it on.

Try and find the merchant fee that is an expense in the categories you choose and it will give you that minus so it's all reconciled

theghca

Yep, just figured it out myself: https://support.waveapps.com/hc/en-us/articles/115000472306?input_string=account+for+merchant+fees

Thanks!