Need more, need help now? we offer pay-as-you-go support, no contract, tenth of an hour billing, expert help, fast service, no call queue

Discounts on Sage products & subscriptions. Discounted subscriptions for customer using pay-as-you-go support or who are self-supporting.

Want web hosting, email, your own domain name, a shop, sage integration we can do it, from £12 a year!

Setting up paypal as bank account

Bookkeeping and Management Accounting help does not have to be specific to the use of Sage 50
Post Reply
chopin_fanatic
User
User
Posts: 12
Joined: 20 Jan 2017, 08:19
Sage Version: v2017 23 UK/Europe/Africa

Setting up paypal as bank account

Post by chopin_fanatic » 20 Apr 2017, 10:17

I'm setting up paypal as a separate bank account on Sage. Sage says that the bank code is outside the range of the chart of accounts. How do I set this up to appear in the correct place on the balance sheet?

User avatar
brucedenney
Site Admin
Site Admin
Posts: 4021
Joined: 28 Feb 2006, 09:56
Sage Version: v2017 23 UK/Europe/Africa

Re: Setting up paypal as bank account

Post by brucedenney » 20 Apr 2017, 10:33

Edit the chart of accounts and extend the range for the bank accounts to include the number you used for paypal.
For just about anything Sage :- switch to subscription, pay-as-you-go support, sagecover, upgrades, application integration, reports, layouts, analysis or any other help making life with sage easier/less time consuming Contact me. Image

chopin_fanatic
User
User
Posts: 12
Joined: 20 Jan 2017, 08:19
Sage Version: v2017 23 UK/Europe/Africa

Re: Setting up paypal as bank account

Post by chopin_fanatic » 24 Apr 2017, 08:47

I've set it up within the 1200-1209 range which places it under current assets and current liabilities on the balance sheet, along with the main bank account. Is this the correct place?

User avatar
brucedenney
Site Admin
Site Admin
Posts: 4021
Joined: 28 Feb 2006, 09:56
Sage Version: v2017 23 UK/Europe/Africa

Re: Setting up paypal as bank account

Post by brucedenney » 24 Apr 2017, 09:05

Yes, that is an ideal location for it.

Note that bank accounts can be positive or negative so are normally configured to float between liabilities and assets, run the check in COA and it should tell you if there is an issue.
For just about anything Sage :- switch to subscription, pay-as-you-go support, sagecover, upgrades, application integration, reports, layouts, analysis or any other help making life with sage easier/less time consuming Contact me. Image

chopin_fanatic
User
User
Posts: 12
Joined: 20 Jan 2017, 08:19
Sage Version: v2017 23 UK/Europe/Africa

Re: Setting up paypal as bank account

Post by chopin_fanatic » 24 Apr 2017, 09:21

That's great thanks.

Post Reply

Who is online

Users browsing this forum: No registered users and 3 guests