PayPal Payouts for GL Reconcilation

Below you'll find a detailed walkthrough of the PayPal reconciliation process for General Ledgers, the structure of the reconciliation page, and how to investigate and resolve variances.

PayPal reconciliation in Blue Onion, focuses on the settlement into the PayPal account rather than the ultimate bank where PayPal transfers settle. Once funds settle into PayPal, they become fungible cash balances that can be moved out of PayPal in a variety of ways:

as a value representing a specific date range's transactions
auto-swept (usually includes a reserve held at PayPal)
in lump sum transfers (e.g., $5,000, $10,000)
used for vendor payments

At this point, the settled funds become a cash balance and can no longer be directly linked to specific transactions.

How BlueOnion Handles Reconciliation:

You'll see aggregations of settlements into PayPal, by day across multiple payment types, including:

Refunds
Sales
Chargebacks
Dispute fees
Holds

The reconciliation page is designed to give you a comprehensive overview of your PayPal transactions while making it easy to spot and investigate any discrepancies. This streamlined approach helps ensure accurate financial records and simplifies the reconciliation process.

You can dig deeper into any transaction by using the "view" button. This will provide a detailed breakdown of the payout, showing you the PayPal payment amount, the settlement into PayPal, and any variances between the gross transaction value and the corresponding GL entries. For more detailed information on how to handle variances please see NetSuite Payout Details and Variances.

For fully reconciled transactions, you can select values (including refunds) and export them to your ERP system.