Paypal Credits on Bank Statment

[Mardie]

Hi, 

I am sorry in advance if this is a stupid question. I tried looking for the answer but haven't been able to find it. 

I am trying to reconcile for October and we have received a credit refund from paypal of $0.29c. I am just not sure how to put this into a transaction into myob. 

I'm sorry I am sure there is an easy solution. I'm still new to MYOB and I am still learning. 

[TezzaB · Accepted solution]

Hi @Mardie

If the refund relates to a purchase you have previously recorded, then the correct accounting treatment would be process the credit to the same expense account that you processed the original purchase (use Spend Money, choose the approipriate expense code, and enter the value as a negative, ie  -0.29)

Since the value is so small, and if you dont have details of the purchase that it relates to, then I dont think anyone would be too stressed if you processed the entry to another expense account that you have (sundry expenses or something similar).    I ceretainly wouldnt be creating a new account for it.

Hope that helps

Terry

[Mardie]

Thank you so much for that I really appreciate it