[GNC] How to import PayPal transactions in to GC

[Michael or Penny Novack]

> As others have mentioned, you should read up on the rules of double entry
> bookkeeping. If GnuCash cannot identify the proper account, it puts it in
> the account call "Unbalanced" - this account should BTW always be ZERO!!!!
> Anything in "unbalanced" is a mistake somewhere.

A little closer to reality is that anything LEFT in Unbalanced/Imbalance 
is a mistake. But there only temporarily might be OK if :working on it".

For example, when entering a transaction you might realize that one 
component might more properly be an account not yet in your CoA. And 
while you could maybe deal with that "on the fly" I often find that IF 
that new account existed, OTHER (earlier) transactions should have 
referenced it.

For example, imagine an expense account X. It has been used as the debit 
account for a number of transaction all of which would be thought 
related to "x". But now I am entering a transaction where there is 
enough difference that it seems advisable to create a new account Y. But 
if the "y" category exists, some of the transactions now posted to X 
really should be in Y because more "y" lie than "x" like. So........ I'd 
allow the transaction I was entering to complete leaving the amount in 
Imbalance and finish the work of entering that stack of transactions. 
When done, I'd do what was needed to clear up anything left in 
Imbalance. Create the new account Y, possibly a placeholder parent for X 
and Y (if they weren't related in some way, wouldn't have had this 
problem). go through X to find all transactions that should really be in 
Y and do that, and then deal with the one in Imbalance << done last, 
because as long as there know "not done yet">>

IF you are in business ...... It is common or at least possible that a 
payment comes in that you are unsure about (what customer, what invoice, 
etc.). Good practice is not to sit on that check, deposit with the rest 
but the other side in an account with the name "Suspense". Again, 
anything left in there means something to be dealt with. In businesses 
of any size, might be a different worker bee who specializes in solving 
the mysteries << might require some days elapsed time, emailing or 
calling customers, etc. >> So just like Imbalance, anything remaining in 
"Suspense" means something needing work.


Michael D Novack