Fee totals never match--bad for bookkeeping

alltrightbricks

Just finished paying my fees for the month, and as this has bugged me every time I've paid my fees I though maybe I'm not the only one. Currently my fees are calculated and totaled for the month in US dollars. At the end of the month I have x amount due in US dollars, but that total is converted into GBP and payment is sent that way. When I get my conversion of what x GBP is into US dollars, it is always different than what my total is on the site. Oddly enough ever time I have paid my fees it has been over not under the total given on this site (must be the value of the dollar going down?)

For me as I like good bookkeeping, it is really hard to match total x on paypal with total x on BO when they are both shown in US dollars, but are off by like $0.40 or whatever.

For me personally. I want these numbers to match. I don't really care if my fees are calculated in GBP or at least displayed in both, and the payment processed in GBP. But if say at the end of the month it shows that I paid x fees in GBP, my paypal account will show that I sent a payment in GBP (for the exact same amount). Then I can look at the conversion to see what it is in US dollars, but at least me totals on both sites will match.

Anyone else?
A better or different way to achieve this?

Thanks,
Katie

unbrickable

I did not experience this problem on BO but i know from other payments i have done on paypal that when your convert one currency to another that's not always matching.

I think it 's the way how the currencies are converted, im curious to !

Plastic-Paradise

Katie,

Are you accounting for the fee that PayPal charges you for the conversion?

PP

alltrightbricks

Nowhere do I see that paypal is charging me a fee. When I go into the details of the paypal transaction, it shows the amount sent in GBP and in parenthesis what it converts to in US $. And right under that is says fee $0.00.

I'm wondering if the fee is tracked on this site internally by GBP and in my account in US $.
At the end of the month I see the running total in US $, but the admin side sees it in GBP. That is then the amount that is set for the paypal automatic payment, but when converted back to US $ does not match the account.

I don't mind so much there being a difference, but not being able to properly track it does bug me.

Oh, and just to clarify, this is the fees that I pay to the site at the beginning of the month.
Katie

elias3

Hi
a currency change on Paypal is a more cost like you can find (for example) on xe.com.

My shop is in Euro but I accept USD and GBP, so it's easy for pay my BO fees in GBP.


Stefaan

Slim Pickins

In short, PayPal charge a fee by way of using a poorer exchange rate on conversions than you would find on ex.com

It has always been that way

Slim

Lawrence

Commission is billed in GBP, but your local currency is shown for convenience. The amount shown in your local currency will differ from the amount that PayPal will charge you to pay the GBP amount. The PayPal payment should show the GBP amount, which should always match the amount that you were due to pay. I hope that makes sense.

alltrightbricks

Yes, the GBP on BO and Paypal match up, the problem is that once I have made the payment, the GBP amount on BO disappears, and my account only shows the US $ which does not match the US $ with Paypal. It would be nice if the account page could show the order fee payment in both GBP and US $. Then I can match the paypal transaction to BO using the GBP amount.
Basically, I would like a record of what I've paid in GBP and US $

Katie

Lawrence

Righto, will take a look tomorrow

alltrightbricks

Thank you!

Graham

@Admin, what would be really nice is if you would accept fee payment in USD as well as GBP, I imagine the Euro zone would appreciate being able to pay in EUR as well.

Lawrence

@alltrightbricks That's now been done, it doesn't look as nice as before, but it is more accurate.

elias3

Thanks Lawrence!

alltrightbricks

Thank you, Lawrence, Great to see!
Katie