Making A Deposit from PayPal


Organizations that are NOT using the Membership Toolkit Accounting Tools should transfer funds from their PayPal account to their checking account on a regular basis.


For treasurers that are needing help to identify funds deposited into PayPal and to record these using other financial software (not Membership Toolkit Accounting), we recommend the following:

  1. Transfer funds into your checking account.
  2. Complete a deposit form for your organization.
  3. Attach a copy of the list of PayPal transactions (printed from PayPal).
  4. Attach a copy of the Order Financial Matrix from MTK.  (Store & Forms / Reports)

 

Example of record keeping and book keeping for Non-Profits:

If you transfer $10,000 from PayPal to your checking account, you will use the Order Financial Matrix to determine how the funds should be distributed into your budget.  It might look like this:

 

Income:

$2,500 - school supplies

$2,500 - donations

$2,000 - membership

$2,500 - spirit wear

$600 - hospitality

 

Expense:

$100 PayPal transaction fees


For instruction on how to set financial categories in your Membership Toolkit account, see the Help Desk Solution:  How to Set Financial Categories