Hi, I am in the process of setting up the accounts for a business I am starting for an online tarot course. My site offers a large amount of free information and viewers have asked about a Donate Button. I will be adding a PayPal Donate Button next week which can be accessed by anyone from over 200 countries who use my site. My question is how will I record these donation payments using this software as it appears I need to provide an Invoice for every payment received. Donations will be paid directly into PayPal and I suppose I will get a record of the email address they came from but will not have any other details. Does this mean I will have to create an Invoice for each donation received? However, it is not a sale I have made. Also, I have signed up for WordPress WordAds which works a bit like Adsense. WordPress have placed ads on my site because of the high traffic and I will be paid a share of the revenue each month. Again, this is not a sale and not sure how to record it in ‘money in’ when I have to raise an invoice to match it. Last question is regarding to which category in ‘money out’ to use for Web Hosting, Domain Renewal, Microsoft Office Online and Adobe Suite. Does it go under Computer Equipment or Telephone and Internet. There does not seem to be a category that exactly defines it. Sorry for the lengthy query. Thank You, Vivien
- The easiest way to manage this. Simply transfer your Paypal money into your bank account (to withdraw etc).
- Then import your bank statement (as often as you wish, once a week, month etc).
- Then you reconcile your bank account (match your bank with your accounts) in Bullet we’ll ask you where did that money come from. Just simply use a client called Paypal Donate.
Do the same as Paypal
Computer Equipment or Telephone and Internet, doesn’t really matter. T&I probably.
Hope that helps.