Hello,
I'm having problems understanding how to record Paypal transactions as a self employed person. I have a few direct debit PayPal payments that go out each month and for each one I have a debit and credit show up from Paypal- so I think it's effectively cancelling itself out, rather than recording it as an expense? Eg. it says I've paid £300 but then the next transaction shows I've been paid £300, when it should just be the payment out.
To confuse matters further, when I'm paying in dollars it's showing as a debit in dollars and a credit payment to me in pounds. Is the answer to just delete Paypal, as surely all the payments for PayPal should just show up through the bank account it's linked to?
I hope I've explained myself properly, I struggle with using the correct terminology and would really appreciate any help! Many thanks!
