WooCommerce, PayPal, Understanding Import/export

Hi,

1. When uploading invoices/suppliers, does the format have to be 100% the same as in the samples? I'm having trouble importing my custom exports from WooCommerce.

2. Is there a PayPal integration to help me keep up with income/expenses automatically?

3. We accept Bitcoin in our store, is there a solution for an accounting of cryptocurrencies?

Thanks.

Dear Tuta,

1) Yes, it has to the same as in the sample. However, you can use this app to do that automatically for WooCommerce.

2) Not yet but an app to sync PayPal data automatically will be released within a couple of days.

3) There is no such a solution, yet. What do you exactly expect? Can you provide more details?

Regards

Hey Denis.

Perfect.

1. Is there a demo/video showing how the app integrates with woocommerce and akaunting? Is it able to differentiate different payment methods? It sounds like a time-saver.

2. Wow, fantastic.

3. I think for a start, we can treat Bitcoin like any other currency. Will you be able to add Bitcoin as any normal foreign currency? We already have a field in woocommerce that is called bitcoin_rate that can be exported.

We receive payments in Bitcoin, and we do not convert to USD, we keep bitcoin. Sometimes we sell that Bitcoin to an exchange after a while. The difference between rate received and rate sold would be important for us to manage capital tax gains.

Basically we're "buying bitcoin" and if we sell it after a while to a bitcoin exchange for USD, we'd need to calculate capital gains on those. Does this make any sense or should I elaborate further?

I'm now elaborating.

3. If Bitcoin could be added as a foreign currency and you can allow a way for us to fetch current live Bitcoin price according to USD/EUR and show that difference between the acquired amount of bitcoin, for example, 0.0032 x rate acquired in revenue. If acquired price is lower it's an expense, if higher it's a revenue.

I'm not sure how you treat multiple currencies in Akaunting right now, but it shouldn't be much different.

Hello Tuta,

1) There is no video as everything is done on the background but I've added a screenshot here. It doesn't differentiate different payment methods.

3) Thanks for the details, it's appreciated. Our development team will evaluate them asap. Akaunting uses the Rate you enter into the currency to make the conversion.

Hey Denis,

1) Thanks, I'll be buying that one.

3) I think if you can somehow implement cryptocurrencies and allow users to follow their gains according to live rates vs day purchased that would be really helpful and can open a door to whole new world of users who need an open-source software to handle their cryptocurrency accounting.

Do you think I can use a workaround to shomehow add Bitcoin as a new currency, or should I just wait for you to add it? 

I wouldn't mind if it was a premium feature.

Dear Tuta,

2) The PayPal sync app is out: https://akaunting.com/apps/paypal-sync

3) Unfortunately, the system doesn't allow you to add custom currency codes so you should wait for now.

Regards