Breezy17
Level 1

Banking

When I follow these steps I am getting a double entry.

 

I guess I am not understanding the steps.

I create an Invoice

The customer pays through PayPal and I deposit the funds in the Undeposited Funds account.

 

Money is transferred to the business account.

 

I create a bank deposit less the PayPal fee and associate this with the correct account for the P&L to categorize it. 

This is where I am seeing entries into both the AR and categorized account, thus creating the double entry of income.

Also, the transfer of funds from PayPal to the bank account are also creating a double income issue.

 

I have tried to learn through the multiple responses and I am just turning in circles trying to get this completed.

Any help would be great as I have tried to locate a step-by-step and have come up empty.

Thanks so much.