What's the best way to handle PayPal?

[David T.]

> On Dec 3, 2016, at 7:47 PM, Colin Law <clanlaw at gmail.com> wrote:
> 
> On 3 December 2016 at 14:43, Dr. David Kirkby (Kirkby Microwave Ltd)
> <drkirkby at kirkbymicrowave.co.uk> wrote:
>> On 3 December 2016 at 14:21, Colin Law <clanlaw at gmail.com> wrote:
>> 
>>> Yes you should setup a separate acct for paypal. Paypal is just
>>> another bank account.
>>> 
>>> Colin
>> 
>> OK, fair enough.
>> 
>> If, as occasionally happens, I purchase something that's partially
>> funded from PayPal, and partially from the company bank account, how
>> does one handle that?
> 
> Use splits to take money from the two accounts. Splits are not only
> used for splitting a transaction across multiple expense accounts,
> they can just as well take money from two (or more) asset accounts.
> 

Or, to put it another way:

Description: Someone buys Thingie for 100, for which Paypal charges 5
Income:Thingie Income: 100
Assets:Paypal:  95
Expenses:Bank Fees:Paypal  5

Description: Buy Gizmo for 150 using PayPal with only 95 balance
Expenses:Gizmos   150
Assets:Paypal         95
Assets:Current Account 55

Cheers,
David

> Colin
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