[GNC] How to handle (double-entry bookkeeping conventions?)

[Geoff]

Hi Simon

Please see attached.

Hope this helps.

Regards

Geoff
=====

On 23/02/2025 7:55 am, Simon Roberts wrote:
> Hi all, I've been happily doing my books in GNC for several years, and I
> would have said I'm pretty comfortable with the whole double entry system.
> However, I came across something yesterday and for some reason I can't get
> my head around it.
> 
> I have a PayPall "Asset" account (essentially the same as my bank
> accounts), I have an "Accounts Receivable" account, I have a customer, and
> an invoice.
> 
> PayPal takes a fee out of monies received.
> 
> I would like to make an entry that shows money received by paypal, have
> that entry applied to the invoice, thereby zeroing out the
> corresponding accounts receivable, and in the same transaction, as a split,
> show the paypal fee charged against "Office Expenses" (that's likely not
> the best description, but I figure it should work mathematically, even if
> it would be perhaps better to create a "Bank Fees" or even "PayPal fees"
> expenses category.
> 
> But when I try to do this, I seem to end up creating something bogus (and I
> know you probably want to know what I mean by that, but I don't really
> know--sometimes the transaction simply vanishes, sometimes it doesn't seem
> to wipe out the accounts receivable balance, I just get stuff I don't make
> sense of).
> 
> So, I guess I have a couple of questions. First, does my description of
> what I'm trying to do make sense, or is there something clearly bogus in
> the plan? If it's not the right way, is anyone willing to outline the
> accounts I should have, and what gets put where?
> 
> Thanks for any help!
> Cheers,
> Simon
> 
> 
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