What's the best way to handle PayPal?

[Colin Law]

On 25 March 2017 at 11:19, Chris Serella <serella_c at hotmail.com> wrote:
>> I treat Paypal just like any other bank account, which is effectively
>> what it is. Then when money is transferred from a current account (or
>> wherever) to Paypal that is just a transfer between accounts.
>>
>
> That makes sense, so I don't need to deal with the sales transactions
> within gnucash just the balance transfers? I ask because I'm wanting to
> know because I tend not to leave the money in the paypal, i transfer it
> to my bank but i want the accounting to show the sales. The paypal
> transactions show a separate entry for withdrawals, Should that
> withdrawal go into sales or just the sales transaction?

I don't understand what you mean about not dealing with sales
transactions within gnucash. If you sell something you have to put the
transaction into GC as a sale, with the money going into the paypal
acct, which is just another bank account. Then the accounts will show
the sale. Whether you later tranfer the money to a different (bank)
account is irrelevant to the sale.

Colin

>
> --
> Kind Regards,
>
> Chris
>