Paypal Integration
roygarciadesign
Member Posts: 1
Hello everyone. Pretty new here.
Just wanted to ask if it is possible to have my clients pay the invoice issued via Wave through Paypal.
If not, what would be another solution/workaround for this?
0
Comments
Hi @roygarciadesign , welcome to the Wave community! The PayPal integration in Wave is limited to importing transactions only. The PayPal integration in Wave does not support direct payments on Invoices. With this being said though, you are still able to process payments through PayPal outside of Wave. When that payment deposit transaction imports, it can be categorized as a Payment Received for an Invoice in Wave > Select specific invoice to apply payment against. If the PayPal deposit transaction includes a transaction fee and the deposit reflects the net deposit, you can split the net deposit transaction. In the split deposit, you can enter the full amount of the customer payment in the first line , and categorize it as a Payment Received for an Invoice in Wave > Select specific invoice to apply payment against. In the second split section, choosing the Discounts and Fees category will allow you to then enter a negative value line to deduct the fee.
@Myron Question on this... I need to account for Paypal transaction fees through Ebay. If I sell something for $100, Paypal will take a 2.9% cut plus $0.30. So what I see, after fees, would be $96.80 and this amount gets transferred to my checking account and recorded in Wave. What's the best way to account for the Paypal fees? Is there a direct integration between Wave and Paypal that would allow me to automatically import the fees?
Thanks in advance for your help/insight!
@Myron Update: I figured it out
@CSE Glad to hear that! Thanks for taking the time to circle back and let us know!