[GNC] Buying with PayPal - how do I split the transaction?

[R Losey]

I'm very simple-minded, I guess.

I treat Paypal just an an expense... so, for the transaction above, I would
enter in the Bank account

Payee: Paypal (Google)
with the expense category Expenses->Utilities->Internet


On Fri, Dec 9, 2022 at 2:01 PM Dr. David Kirkby <
drkirkby at kirkbymicrowave.co.uk> wrote:

> I have the following accounts, and am buying something in GBP.
>
> Assets -> Accounts  Receivable -> GBP
> Assets -> Bank account
> Assets -> PayPal -> GBP
> Expenses -> Utilities -> Internet
> Liabilities -> Accounts Payable -> GBP
>
> I paid Google £15 for using some cloud storage (OneDrive) using PayPal. So
> PayPal took the money from the bank account and paid Google.
>
> *If I were NOT using PayPal, this is the process I would go through.*
>
> *Under Business -> Vendor -> New Bill*
> Create a bill and post that to these accounts
> *Expense Account:* Expenses -> Utilities -> Internet
> *Post to Account: * Liabilities -> Accounts Payable -> GBP
>
> *Under Business -> Vendor -> Process Payment*
> Process the payment
> *, using these accounts*
> *Post to*: Liabilities -> Accounts Payable -> GBP
> *Transfer Account:* Assets ->  Bank account
>
> Am I doing that all correctly done, if not using PayPal ?
>
> Assuming that is, how can I modify the process so the  account* Assets ->
> PayPal -> GBP* account gets used?
>
> Dr David Kirkby Ph.D
> Email: drkirkby at kirkbymicrowave.co.uk Web:
> https://www.kirkbymicrowave.co.uk/
> Kirkby Microwave Ltd (Tel 01621-680100 / +44 1621-680100)
> Stokes Hall Lodge, Burnham Rd, Chelmsford, Essex, CM3 6DT.
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-- 
_________________________________
Richard Losey
rlosey at gmail.com
Micah 6:8