1390 Other Processor Clearing
The default clearing account for a payment processor other than Stripe or Square, such as PayPal.
In Solo Superstars
Use it the same way as Stripe Clearing: payments in, payouts out, balance should return to zero after each payout matches.
Example
A $500 PayPal sale less a $15 fee: debit 1390 485, debit 6010 15, credit 4000 500.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- PayPal clearing
Related
- Processor clearing — Where a card payment waits between the customer paying and the processor depositing it, net of fees, into your bank. One clearing account per processor.
- Processor payout — A deposit from Stripe, Square or PayPal that bundles several customer payments minus fees. Matching it empties the clearing account.
- Chart of accounts — The list of buckets your money can be sorted into: assets, liabilities, equity, revenue, expenses. New workspaces start with a default set you can rename or extend.
- Default chart — The chart of accounts every new workspace starts with, numbered the way QuickBooks users expect. Yours may have been renamed or extended since.