Hello there!

Thanks for taking time to respond. 

Trying to understand PayPal Transactions. All PP fund transfers are manually posted. I do not have the need to create invoices or receipts, or to enter individual customers.

Customers pay through PayPal. At least once per month, I do a PP funds transfer into our chequing account. 

When Bank statement arrives, I feel this is how to record as I fail to understand why a PP Bank Account needs to be setup.

Example: $437.00 transferred from PP to Bank Acct:

As a Journal Entry:

Bank Acct   DR   $437.00
PP Fees      DR   $ 20.00

PP Sales     CR   $457.00

Income Statement will show

PP Sales $457.00

PP Fees Expense $20.00

The 'light bulb' isn't going on with regard to why a PP Bank Acct should be used and how to post? Sounds very complicated when I read other discussions.

Please help to simplify.

Thanks so much!

Nancy