People aren't reading the GnuCash documents. What makes you think they'll read
a text on accounting?
David T.
On Dec 15, 2022, 6:49 PM, at 6:49 PM, Michael or Penny Novack
wrote:
>
>> I'm not sure what you mean when you say "documentation," but I don't
>think the Guide or the Help would
I'm not sure what you mean when you say "documentation," but I don't think the Guide or
the Help would be appropriate places to make such references. Section 2.1 of the Guide gives a few
basic explanations on underlying accounting concepts. This section, in fact, states that "you
do not need
Dr. Kirkby,
I don't know what you did here, but this is what I see (i.e., nothing)
in two different mail clients. I can see the info on the list website,
though.
To respond, it's a bad idea to add references to books that few will
read (your own story underscores the point), no one will
On Thu, 15 Dec 2022 at 05:35, David T. via gnucash-user <
gnucash-user@gnucash.org> wrote:
> David,
>
> I'm not sure what you mean when you say "documentation," but I don't think
> the Guide or the Help would be appropriate places to make such references.
> Section 2.1 of the Guide gives a few
David,
I'm not sure what you mean when you say "documentation," but I don't think the
Guide or the Help would be appropriate places to make such references. Section
2.1 of the Guide gives a few basic explanations on underlying accounting
concepts. This section, in fact, states that "you do
Michael,
I agree that rather than trying to include Accounting 101 in the GnuCash
documentation is likely inapprpriate. It may be appropriate however to provide a
list of basic accounting textbooks that new users can refer to including books
from a number of the different jurisdictions and in the
Michael,
I'll note that my suggestion was specifically and purposefully to add the text
to the wiki, and not to the Guide or Help.
David T.
On Dec 14, 2022, 5:25 PM, at 5:25 PM, Michael or Penny Novack
wrote:
>
>>> Given the length of this thread and the apparent confusion
>documenting
Given the length of this thread and the apparent confusion documenting
PayPal in GnuCash, it might be helpful for someone to add a section to the
wiki page at "Using GnuCash" on the different methods people have outlined.
IMHO, the Guide and Help cover the overall concepts well enough.
I
I think you're thinking of so-called "suspense" accounts? It would seem to me
that tracking what PayPal won't release isn't necessary in my books-- any more
than I need to track when the bank freezes a large check I deposit. I just
carry that balance until it can be used.
David T.
On Dec
On Wed, 14 Dec 2022 at 05:04, David T. wrote:
> Given the length of this thread and the apparent confusion documenting
> PayPal in GnuCash, it might be helpful for someone to add a section to the
> wiki page at "Using GnuCash" on the different methods people have outlined.
> IMHO, the Guide and
I think that documentation might best be generalized to apply to Venmo and
other payment services besides the :"traditional" credit cards.
On Tue, Dec 13, 2022 at 11:05 PM David T. via gnucash-user <
gnucash-user@gnucash.org> wrote:
> Given the length of this thread and the apparent confusion
Given the length of this thread and the apparent confusion documenting PayPal
in GnuCash, it might be helpful for someone to add a section to the wiki page
at "Using GnuCash" on the different methods people have outlined. IMHO, the
Guide and Help cover the overall concepts well enough.
David
Yes, I eventually realized that you hold money in Paypal, so it would need
to be an asset account like any other checking account.
On Mon, Dec 12, 2022 at 11:35 PM Dr. David Kirkby <
drkir...@kirkbymicrowave.co.uk> wrote:
> On Mon, 12 Dec 2022 at 23:07, R Losey wrote:
>
> > Ah; if you're going
True... I don't get income via Paypal... I just pay for stuff using it.
On Mon, Dec 12, 2022 at 10:45 PM Dr. David Kirkby <
drkir...@kirkbymicrowave.co.uk> wrote:
> On Mon, 12 Dec 2022 at 23:01, R Losey wrote:
>
> > I'm very simple-minded, I guess.
> >
> > I treat Paypal just an an expense...
On Mon, 12 Dec 2022 at 23:07, R Losey wrote:
> Ah; if you're going to hold money in the PayPal account, I think it would
> be an asset account, from which you transfer money from the bank to Paypal
> whenever, and then you reduce money when you purchase something via Paypal.
>
I have in the
On Mon, 12 Dec 2022 at 23:01, R Losey wrote:
> 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
>
I would have
Ah; if you're going to hold money in the PayPal account, I think it would
be an asset account, from which you transfer money from the bank to Paypal
whenever, and then you reduce money when you purchase something via Paypal.
On Sun, Dec 11, 2022 at 6:52 AM Dr. David Kirkby <
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 <
On Sun, 11 Dec 2022 at 01:28, David Cousens
wrote:
>
> Dave,
>
> The different approaches with this mainly reflect different circumstances.
Yes, I can see that.
>
> PayPal to some extent acts a bit like a bank so my first thought would be
> to
> treat them the same as you would treat a bank
The easier way to approach this is to ask yourself, "what happens in the
real world?"
Then model that in your accounts and transactions.
Thus, do you transmit funds in advance to the PayPal account?
If so, make that transaction, with PayPal as an asset (just like another
Bank account) then
That is not categorically true. Sellers (some at least) have the option
to pass on the fees. Not sure if that is relevant to the OP's case, but
the possibility does exist.
Regards,
Adrien
On 12/10/22 11:09 AM, Chris Skudder wrote:
When you BUY something using paypal, the SELLER pays
I'm looking at paypal as identical to venmo. If I do not pull payments out
immediately, venmo will use the balance to pay anyone I owe.
That said, I continue to use venmo as a method of payment or cost in the
checking account which pays the bills. I see no reason to treat paypal
differently.
Dave,
The different approaches with this mainly reflect different circumstances.
PayPal to some extent acts a bit like a bank so my first thought would be to
treat them the same as you would treat a bank account, but the appropriate way
to treat it depends on how you actually use your account
On Sat, 10 Dec 2022 at 17:09, Chris Skudder wrote:
>When you BUY something using paypal, the SELLER pays their fees, not
>you.
>So recording a purchase for which you paid using paypal is no different
>than any other purchase:
>Debit: expense (or asset, if you're buying
: Re: [GNC] Buying with PayPal - how do I split the
transaction?
Message-ID:
[6]
Content-Type: text/plain; charset="UTF-8"
On Sat, 10 Dec 2022 at 01:19, Michael or Penny Novack <
[7]stepbystepf...@comcast.net> wrote:
On 12/9/2022 7:01 PM, David Cousens wrote:
However, I
On Sat, 10 Dec 2022 at 00:01, David Cousens
wrote:
> David
>
> I treat my Paypal account as a Liability account,
As I wrote earlier, I treat mine as an Asset.
To use the business features, so you have the vendor record, I would have a
> separate PayPal Liability account. On purchase record
On Sat, 10 Dec 2022 at 01:19, Michael or Penny Novack <
stepbystepf...@comcast.net> wrote:
> On 12/9/2022 7:01 PM, David Cousens wrote:
>
> However, I do NOT understand why you were treating your Paypal account
> as a liability. AFAIK, Paypal does not offer credit.
PayPal do offer credit
Michael
You are right but I just find it convenient to reconcile the Paypal account
against my statement from them and my bank account against the statement from
the bank, rather than having to find the payments to Paypal
in my bank account records. I could just as easily use an asset account
On 12/9/2022 7:01 PM, David Cousens wrote:
I treat my Paypal account as a Liability account, just as you would treat
purchases with a credit card. Mine is linked to a bank account from which funds
are automatically transferred to keep the balance in the PayPal account at 0. (
I no longer accept
David
I treat my Paypal account as a Liability account, just as you would treat
purchases with a credit card. Mine is linked to a bank account from which funds
are automatically transferred to keep the balance in the PayPal account at 0. (
I no longer accept payments through it and only use it
On Fri, 9 Dec 2022 at 20:20, wrote:
> Hello, David:
>
> I have the same kind of transactions in my small business bookkeeping as
> you describe here. My responses are interleaved below.
I think most businesses will use PayPal at some point.
>
> > *If I were NOT using PayPal, this is the
Hello, David:
I have the same kind of transactions in my small business bookkeeping as
you describe here. My responses are interleaved below.
On 2022-12-09 12:00, Dr. David Kirkby wrote:
I have the following accounts, and am buying something in GBP.
Assets -> Accounts Receivable -> GBP
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