The summaries we currently support for Paypal are:

  1. Paypal Deposit - This is a payout to linked bank accounts and includes associated fees.

  2. Paypal Express Checkout - A summary of only Express Checkout transactions with associated fees and Paypal working capital payments removed.  

Paypal Deposit

For each General Withdrawal to bank account transaction in Paypal a journal entry will be created based on this template.

Things to note:

  1. Deposits sometimes have fees taken out for Instant Deposits and we track that in the Paypal Deposit journal entry. 

Paypal Express Checkout Summary

For each 24 hour period we summarize all Express Checkout Payments based on this template:

Things to note:

  1. Paypal Working Capital payments are paid back to paypal from daily sales so we summarize that amount as part of the summary and not the deposit.  If there are working capital payments not related to Express Checkout transactions they will also be summarized here.  

  2. The first line of this Journal Entry should match the Paypal tendered amount on that day from your eCommerce system.

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