Re: [SL] Handling PayPal Money Market & Trading Accounts

[Michael H. <mh...@it...>]

Is there any reason why the interest can't be a separate/additional  
line item in the same GL entry...?  We've also seen reference to  
scripts for importing electronic account statements but haven't  
actually looked at any of them.


Thanks,

Michael

On Apr 16, 2008, at 10:15 PM, Luke wrote:
> This is an accounting question...
>
> How are people handling interest payments (incoming), such as from the
> PayPal money market fund?
>
> I have a PayPal account (configured much like a checking account)  
> in the
> COA, and my plan to date is to just use an AR transaction for each
> interest payment I encounter while back entering, just as I plan to  
> use
> an AP Transaction to vendor "PayPal" for credit card charging fees  
> they
> assess.
>
> So, once I know how much PayPal has paid for that period, I can  
> post an AR
> transaction for that amount, including a payment.
>
> However, if there is a more reasonable way, which does not involve  
> so many
> AR transactions, I'd be interested in hearing about it.
>
> I say "so many", because PayPal is not the only such account we  
> have which
> does this--some checking accounts do it, as do stock trading accounts.
>
> Speaking of stock trading accounts: is anyone here tracking a trading
> account in SL, and if so, what are some of the practices you use for
> recording transactions in it?
>
> Thanks
>
> Luke
>
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