Three-way transaction, that I am not sure how to handle...

[Jack Whale]

Nor am I an accountant.
I was wondering, though, whether PayPal does this all at once with each 
transaction or if it draws out of your checking account and pays the rebate, 
say, once a month(or week, or day)?
jw

>From: Robert Heller <heller at deepsoft.com>
>To: Gnucash <gnucash-user at gnucash.org>
>Subject: Three-way transaction, that I am not sure how to handle...
>Date: Mon, 18 Sep 2006 19:34:12 -0400
>
>I recently set myself up with a PayPal Debit card, which I am using to
>pay for recurring business expenses.  Because I also have a PayPal
>button on my web site, I am getting 1% cash back.
>
>I generally don't carry a balance on my PayPal account, so the funds are
>drawn from my (business) checking account as a 'backup funding source.
>
>Now what happens is this: PayPal performs three transations:
>
>1) Pays the charge.
>2) Transfers the needed amount from my checking account to cover the
>charge.
>3) Awards the cash-back amount to the PayPal account.
>
>Right now, I have two regular transactions, a transfer from my checking
>account to the PayPal account and a transfer from the PayPal account to
>the payee (I have not put in a transaction for the cash back yet).
>
>Does it make any sense to bundle the whole transaction sequence as a
>split transaction?  Or should I just have three transactions? If the
>former, I am not totally sure what the split transaction will look like.
>
>--
>Robert Heller             -- 978-544-6933
>Deepwoods Software        -- Linux Installation and Administration
>http://www.deepsoft.com/  -- Web Hosting, with CGI and Database
>heller at deepsoft.com       -- Contract Programming: C/C++, Tcl/Tk
>
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