I am about to go into business with a friend of mine and need some assistance and advice on what the best method to track my sales would be. The business is a small monthly neich publication and it sells through its website, single issues and month Direct Debits 6 and 12 months. Now the arangement I have with my friend is that I will launch an SEO campaign for the website, and any sales generated via my SEO efforts, I will receive 50% of the profit to which he has agreed. (We will first establish an average number of sales he is getting each month) and then deduct those sales each month from the total as we know these will not have been due to the SEO. At the moment all of his sales simply pile into his paypal account without any organisation what so ever. Single payments and DD payments. What I need is a system in which that will... A. Record all single magazine sales. B. Record all DD sales. The simpliest way around this I thought was to set up a new paypal account and from the lauch date of my SEO campaign take all payments through that account, deduct the established average takings and then cut the rest 50/50. This would work ok, however I am unsure if paypal would allow two accounts to be set up, or if not I don't know if paypal allow you to send your money to different sections, similar to having multiple bank accounts with the same bank. Again this seems the simpliest method to me but I don't know if there is a better way, so if anyone has any suggestions or are doing a similar thing. I'd appreciate any advice you could give. Many Thanks, Brett.
You are allowed to have two accounts: one personal and one Business/Premier. I think the Business account is probably what you need - but you will need a bank account in your Business's name. One of the advantages of a Business PayPal account is that you can have Multi-User Access, so you both will have access to the account.
Yeah I know this would be easier but his current paypal account taking payments is a business account and his business account is registed to this. I contacted paypal to ask if they offer a feature to section off payments in your account and they said they dont. What I really need is all payments after a certain date to go into one section and all payments and DD's set up before that date to go into another, this is seeming impossible to find a solution.