I'm trying to work out how to refund a payment, made to a vendor (Royal Mail) using PayPal to pay for this.
The attached file is very similar to the standard business accounts, with the bare minimum of changes needed to demonstrate my problem. The only real changes I have made are 1) Added a PayPal account - Assets:Current Assets: PayPal 2) Made Liabilities:Accounts Payable a placeholder account. 3) Added Liabilities: Accounts Payable:Bank 4) Added Liabilities: Accounts Payable:PayPal 5) Added Royal Mail as a vendor. 6) Set the opening balance on the checking account to £100. The PayPal balance is £0. *Next I generated a Bill for Royal Mail for £1 for postage, and posted that to * *Liabilities: Accounts Payable:PayPal * *using the expense account Expense:Postage and Delivery. * *Next I paid PayPal, using the bank account. * *At this point the expenses risen to £1 due to the postage, and the balance of the bank account has reduced from £100 to £99. * The *£1 paid was actually for Royal Mail to collect the package, but I realised it would not be ready in time, so cancelled the collection. * I assume there are going to be 2 stages to this. 1) Royal Mail gives a *£1 *refund to PayPal. 2) I transfer the PayPal balance of *£1 *back to my bank account. If this is the way to go, I know how to do the second part of this, but I'm totally lost about how to do the first part.
How-do-I-refund-the-1-GBP-paid-to-Royal-Mail-using-PayPal-and-bank.gnucash
Description: application/gnucash
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