How do I mark an invoice as paid?

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• 
  Olly, Official Rep, replied on November 14, 2007 11:33

  Hi Mike,
  
  We'll aim to get the changes to Paypal accounts ready for the next release, scheduled for next Monday.
  
  Once you import the Paypal statement into FreeAgent, you will see each unexplained transaction. Just click on one to explain a transaction as an Invoice Receipt. The invoice in question (assuming the amounts are indeed the same) will then automatically be marked as Paid.
  
  Regarding Google Checkout, we don't (yet) have an account but it seems they do allow all the order data to be exported using the 'Download data to spreadsheet (.csv)' option. Would you be able to check to see if this contains Gross, Net and Fee information as the Paypal statements do?
  
  Thanks for the heads-up on World Pay.
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• 
  Olly, Official Rep, replied on November 14, 2007 11:13

  If you're uploading bank statements then rather than manually marking the invoice as paid, you should explain the unexplained bank transaction as an Invoice Receipt.
  
  If the unexplained transaction amount was the same as the invoice total then the invoice would automatically be marked as Paid. In your case, since the transaction amount is LESS than the invoice total (due to the Paypal fee), then the invoice remains in a Sent state. However at this stage you can simply click the WRITE-OFF UNPAID button which will do exactly what you want!
  
  This is certainly a valid workaround for your situation, but using a separate Paypal account would provide a fully accurate model of your finances. It shouldn't take up much more of your time than your current process -- it's really simple. In fact, it may even save you time because FreeAgent gradually learns more about your explanations and will start to automatically explain them for you (where possible) when you upload your statements.
  
  We'll look into supporting Google Checkout. Are there any other payment mechanisms you use in addition to these two?
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• 
  Olly, Official Rep, replied on November 14, 2007 09:15

  Hi Mike,
  
  To mark an invoice as paid you have to first mark it as Sent. You can do this by either sending it in an email or by clicking on the green arrows (>>) pointing from Draft to Sent. This will move it from a Draft state into a Sent state.
  
  To mark a Sent invoice as Paid you have two choices. You can manually do this by clicking on the green arrows (>>) pointing from Sent to Paid. You will then be asked to manually add a bank account entry and select an invoice to allocate the money to. Alternatively, if you are uploading your bank account statements, just click on the unexplained transaction which relates to the invoice payment, select Invoice Receipt as the transaction type and then select the invoice to allocate the money to.
  
  However, given the Paypal scenario you describe, you might want to take a different approach -- one we use for FreeAgent Central's accounts in fact.
  
  You should first add a new Bank Account to FreeAgent which represents your Paypal account (you'll have to make up a sort code and account number for now -- we don't explicitly model Paypal accounts just yet).
  
  Next, from the Paypal website you can download all your transaction data in CSV format (they say they support QIF, although we're finding that it isn't actually available at present) and then upload this statement into your newly created FreeAgent Paypal Bank Account. This would allow you to explain the actual Paypal transactions against the invoices and then explain the transfers between Paypal and your Bank Account as transfers in FreeAgent.
  
  One caveat. At present we only import the NET amount from the Paypal CSV file, not the GROSS amount, which would still leave you with a disparity between the transaction amount and the invoice amount. However, we can make a change for next week's FreeAgent release so that both the gross transaction and the Paypal fee are listed as separate transactions. This would allow you to fully model all the money in and out of both Paypal and your bank account.
  
  Would this be a viable solution for you?
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