PayPal fees now automatically categorized

Outright now takes "automagic" to a new level with new and improved PayPal fee categorization.   The following applies to anybody who is importing their PayPal data directly into Outright.  Outright will now categorize all of your PayPal fees (fees associated with a PayPal sale) automagically as "PayPal Fees".

Three things to keep in mind:  

1.  If you've already created a category called "PayPal Fees," and have been manually categorizing your newest transactions, your work just got much easier.    New data will come in and categorize itself correctly; you won't have to do anything!

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2.  If you've already created a category for PayPal fees but have named that category anything else (such as "PayPal Selling Fees"), you can simply merge this category into the new default  category called "PayPal Fees".  Going forward, all new data will come in and categorize itself correctly; you won't have to do anything!

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3.  If you've previously left your PayPal Fees uncategorized as "Uncategorized," everything from now on will come in categorized as "PayPal Fees" automatically.  This will create a slight discrepancy, as you'll have two categories in your ledger that contain data about your PayPal fee amounts.   While we won't go back and change the OLD PayPal Fees categorized as "Uncategorized", everything going forward will be automatic.  

 

As a final note, if you don't do anything, there won't be much difference, but you will notice that the new category called "PayPal Fees" will be included on your Expense Categories list, and it will roll up to "Other Expenses" on the Schedule C. 

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