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ffureel ffureel is offline
Starting Out
Join Date: Dec 2005
Posts: 21
Paypal and accounts.

If I receive payments from paypal , in my accounts , do I put the amount the client paid me, or the amount after paypal deduct their fees?

Cheers!
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marc williams marc williams is offline
Entrepreneur
Join Date: Dec 2005
Posts: 31
You can just ask the buyer to add 3% for paypal charges
or you can absorb the fees it is up to you to decide.
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bb99 bb99 is offline
Connector
Join Date: Nov 2004
Posts: 254
If the customer has paid you 10 and you've ended up with 9 after fees then you should record turnover of 10 and a cost of 1 in your accounts.

[This assumes you're not VAT registered]
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MarkCo MarkCo is offline
Connector
Join Date: Nov 2005
Location: London, UK
Posts: 324
Yes, any paypal fees will be listed as costs of the product.

So you should show the full price you sold the item/service for and the fees are counted as costs of service/production
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