On Mon, 12 Dec 2022 at 23:07, R Losey <rlo...@gmail.com> 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 past removed any money asap, as they can lock accounts for “your own security”. However, despite being in the UK, I have some customers who want to pay in Euros or USD, despite I make it clear I charge more. When USD arrives in my account, it makes little sense to pay currency conversion fees to convert to GBP, then later buy something in USD, paying more currency conversion fees. So if I don’t need the money, there are financial advantages to holding USD and Euros, rather than converting to GBP. My accountant told me to treat PayPal as an asset, which was my original reason for doing so. Dave -- Dr. David Kirkby, Kirkby Microwave Ltd, drkir...@kirkbymicrowave.co.uk https://www.kirkbymicrowave.co.uk/ Telephone 01621-680100./ +44 1621 680100 Registered in England & Wales, company number 08914892. Registered office: Stokes Hall Lodge, Burnham Rd, Althorne, Chelmsford, Essex, CM3 6DT, United Kingdom _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: 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.
