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Level 3

PayPal deposited £0.01 to my business Bank account for verification purposes. How do I record this to reconcile my Bank statement?Thanks in advance.

 
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Best answer 07-14-2019

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Level 15

Re: PayPal deposited £0.01 to my business Bank account for verification purposes. How do I record this to reconcile my Bank statement?Thanks in advance.

you can use the register too, on a new entry enter the amount in the deposit block and select other income as the account

 

in make deposits, if you do not check off the others, they will not be deposited.  There should only be other amounts in undeposited funds if you have that money on hand waiting to go to the bank

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4 REPLIES 4
Level 15

Re: PayPal deposited £0.01 to my business Bank account for verification purposes. How do I record this to reconcile my Bank statement?Thanks in advance.

make a deposit in that amount, and use other income as the source account for the deposit

Level 3

Re: PayPal deposited £0.01 to my business Bank account for verification purposes. How do I record this to reconcile my Bank statement?Thanks in advance.


@Rustler wrote:

make a deposit in that amount, and use other income as the source account for the deposit


Hi,

Thanks for your reply. Unfortunately I am struggling with this. I cant figure out how to make a new bank deposit as there are already transactions present when I click the bank deposit tab (see screenshot). I understand the transaction is not a sale so should not be recorded as a sales receipt.

Appreciate the help.

Level 15

Re: PayPal deposited £0.01 to my business Bank account for verification purposes. How do I record this to reconcile my Bank statement?Thanks in advance.

you can use the register too, on a new entry enter the amount in the deposit block and select other income as the account

 

in make deposits, if you do not check off the others, they will not be deposited.  There should only be other amounts in undeposited funds if you have that money on hand waiting to go to the bank

View solution in original post

Level 3

Re: PayPal deposited £0.01 to my business Bank account for verification purposes. How do I record this to reconcile my Bank statement?Thanks in advance.

Fixed the problem

Thank you!