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I have issued a refund from my Paypal account for a particular customer and the money was pulled through ACH. How do I categorize this under bank transaction?
I have issued a refund from my Paypal account for a particular customer and the money was pulled through ACH. How do I categorize this under bank transaction?
I have issued a refund from my Paypal account for a particular customer and the money was pulled through ACH. How do I categorize this under bank transaction?
Is your PayPal account connected to your business bank account? If so, then create a revenue account called Sales Return. Book it there. It would be a credit to your cash account (reducing this asset because money came out) and a debit to Sales Return (which is a Contra Revenue account because it's reducing Revenue).
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