Paypal

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Paypal

Andy Pastuszak
What's the best way to set up an GNUcash for Paypal?  Should I make a Bank
account or a Cash account?

Andy
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Re: Paypal

Buddha Buck
I'm not sure there is any difference between the two internally which would
make a difference. I would set it up as a bank account. While PayPal may
not technically be one, it passes the duck test (looks like a bank account,
acts like a bank account...).



On Mon Feb 23 2015 at 2:12:39 PM Andy Pastuszak <[hidden email]>
wrote:

> What's the best way to set up an GNUcash for Paypal?  Should I make a Bank
> account or a Cash account?
>
> Andy
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Re: Paypal

Michael DeBusk-2
In reply to this post by Andy Pastuszak
I don't leave any money in my PayPal account, so I don't have Paypal
in GNUcash at all. I reference the eventual payee like so: John Smith
(via PayPal)

I do the same with Google Wallet.

On Mon, Feb 23, 2015 at 2:11 PM, Andy Pastuszak <[hidden email]> wrote:

> What's the best way to set up an GNUcash for Paypal?  Should I make a Bank
> account or a Cash account?
>
> Andy
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Re: Paypal

Egbert van der Wal
I don't use PayPal as a bank account, nevertheless, sometimes money will stay
in there for a while. Paybacks, sometimes people give me some money through
paypal (eg ebay). So I do model it as a bank account in gnucash.

This also makes sure that the transaction dates in gnucatch match those on my
bank statement, but the transaction dates also match the payment dates on the
receipt of any purchase through PayPal. This is not possible without modelling
PayPal as a separate account since the money is deducted from PayPal
immediately but PayPal doesn't deduct it from my bank account for another
couple of days.

Difference between bank and cash is negligible but it resembles a bank account
mostly so I just put it there.

Egbert


Op maandag 23 februari 2015 15:46:44 schreef Michael DeBusk:
> I don't leave any money in my PayPal account, so I don't have Paypal
> in GNUcash at all. I reference the eventual payee like so: John Smith
> (via PayPal)
>
> I do the same with Google Wallet.
>
> On Mon, Feb 23, 2015 at 2:11 PM, Andy Pastuszak <[hidden email]>
wrote:

> > What's the best way to set up an GNUcash for Paypal?  Should I make a Bank
> > account or a Cash account?
> >
> > Andy
> > _______________________________________________
> > gnucash-user mailing list
> > [hidden email]
> > https://lists.gnucash.org/mailman/listinfo/gnucash-user
> > -----
> > Please remember to CC this list on all your replies.
> > You can do this by using Reply-To-List or Reply-All.

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Liz
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Re: Paypal

Liz
In reply to this post by Andy Pastuszak
On Mon, 23 Feb 2015 14:11:31 -0500
Andy Pastuszak <[hidden email]> wrote:

> What's the best way to set up an GNUcash for Paypal?  Should I make a
> Bank account or a Cash account?
>
> Andy

For many years I didn't have a Paypal account within gnucash, but this
year I have decided to do so, after running into difficulties
reconciling refunds which were cross-currency.
Now I have a Paypal account in gnucash, probably a bank account type.
I enter the paypal transaction and then on the line below the payment
to paypal from the other account. Twice the work, but reconciling is
easier.
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Re: Paypal

WM-2
Tue, 24 Feb 2015 20:21:14 <[hidden email]>  Liz
<[hidden email]>

>On Mon, 23 Feb 2015 14:11:31 -0500
>Andy Pastuszak <[hidden email]> wrote:
>
>> What's the best way to set up an GNUcash for Paypal?  Should I make a
>> Bank account or a Cash account?
>>
>> Andy
>
>For many years I didn't have a Paypal account within gnucash, but this
>year I have decided to do so, after running into difficulties
>reconciling refunds which were cross-currency.
>Now I have a Paypal account in gnucash, probably a bank account type.
>I enter the paypal transaction and then on the line below the payment
>to paypal from the other account. Twice the work, but reconciling is
>easier.

I have a PayPal account of type bank for each currency that has passed
through it.  I use them for currency matching as Liz does above and
making sense of dates as Egbert does (some currency transactions from
GBP to ANOther go via USD taking a day each time)

If the transactions were numerous, frequent or very small I probably
wouldn't bother.

Whether I use bank or cash wouldn't make a lot of difference to me as I
tend not to leave money in PayPal for long, the multiple gnc accounts
are just staging posts.

--
Wm...
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