PayPal Sage cloud/ Sage accounting standard

Question

Hello. I have just started using sage accounting instead of Sage 50 accounts. The company uses PayPal to pay for online purchases & pay supplier accounts. This has caused some issues when PayPal uses a balance on the account, meaning the supplier payment leaves the bank account for less than the amount owed to the supplier. Would the best way to record these transactions be to set up a &lsquo;dummy&rsquo; credit card or bank account to post these transactions through & reconcile that way or does anyone have any other suggestions please? Thanks

Steven Kay · Accepted Answer

Hi Natalie, 
 Thanks for using Community Hub. 
 The best way to work with Paypal etc is to setup a bank account on Sage for Paypal and then you can connect a bank feed to Paypal. This will download the transactions and allow you to create an adjustment for the fees as you allocate them to the invoices. 
 Follow this link to our help article on how to do the adjustments on the Paypal bank feeds for the fees. 
 If this helps, please select Verify Answer. 
 Regards, Steven Kay Sage UKI

Steven Kay · Answer

Hi Natalie, 
 By creating a bank account on Sage, and connecting to your Paypal feed, you can use it exactly the same way you would do a normal bank account. So you can use the Paypal bank on Sage to pay your purchase invoices in the same way. 
 The guide I sent you above will show you how to adjust for the fees from Paypal. 
 Regards, Steven Kay Sage UKI

Sage Accounting UKI

PayPal Sage cloud/ Sage accounting standard

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