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

[Robert Heller]

At Mon, 18 Sep 2006 17:05:11 -0700 "Jack Whale" <jackwhale at hotmail.com> wrote:

> 
> 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)?

They record it as three sucessive transactions, for each debit card
usage.  I guess if I had a suffiencient balance in my PayPal account, it
would only be two transactions.

> 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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-- 
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