Forum Message

PayPal Refunds

Hello there

Apologies for what is probably extremely simple. I'm over-thinking it!

I refunded two customers via PayPal at a rate of £1 each, for shipping. On my PP statement, the pound is treated as two transactions: -96p and +4p. The 4p is PP refunding me for the fee I initially paid.

How do I enter all this into Solar?? On the original invoices, both of the pounds were applied to the shipping fees collected account.

Thanks for your help.


Posted by Power Kitten on Feb 3, 2012 12:35 AM GMT

Hi Power Kitten (great name!)

You need to record two transactions in Solar Accounts:
1) a Money Paid Out transaction for £1 allocated to the 'Shipping Fees Collected' income account
2) a Money Received transaction for £0.04 with the From Account set to the 'Payment Processing Fees' expense account.

Regards,


Posted by Mark McLaren (Solar Accounts) on Feb 3, 2012 11:41 AM GMT

Thanks Mark. The only problem is that when I try to create a money received transaction, the only options I have in the from account are customers...


Posted by Power Kitten on Feb 3, 2012 4:00 PM GMT

Hi Power Kitten,

You should find the suppliers listed below the customer in the 'Received From' drop-list. If that is not the case, click menu File > Backup, then save the backup file and email it to me - this will give me a better understanding of the problem.

Cheers,


Posted by Mark McLaren (Solar Accounts) on Feb 3, 2012 5:39 PM GMT

I decided to create a new general transaction, and moved the 4p from Payment Processing Fees to PayPal Account. All adds up now. Is that alright?


Posted by Power Kitten on Feb 3, 2012 6:16 PM GMT

Hi Power,

Yes that's fine for the £0.04 transaction. You will still also need to record the other transaction.

Regards,


Posted by Mark McLaren (Solar Accounts) on Feb 3, 2012 7:49 PM GMT

Sweet, thanks for your help.


Posted by Power Kitten on Feb 3, 2012 10:10 PM GMT