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UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: PAUL ERITH on June 26, 2013, 03:05:01 pm

Title: Paypal & card fees
Post by: PAUL ERITH on June 26, 2013, 03:05:01 pm

How do you guys record paypal & card payments

The way i do it is if the paypal payment is say 11.30 after fees i put that down as the payment which i'm sure is a bit naughty, but to put each an every individual 56p fee through my expenses would be a total pain.

Thanks Paul

Title: Re: Paypal & card fees
Post by: craig mcneil on June 26, 2013, 04:27:10 pm

Why do you need to record each Paypal fee individually? At the accounting year end I download all my Paypal payment history and tote up all the fees paid to Paypal. It would seem to me that you're missing out on a chance to reduce your tax bill by not recording the fees.

Title: Re: Paypal & card fees
Post by: Dave. on June 26, 2013, 05:35:33 pm

^^^^^^^
Same as above except,. I do it monthly, print out a monthly summary from paypal and add up the fees