How do I categorize a monthly payment to my PayPal Smart Connect credit card from my PayPal balance?

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Mark - Home Office
Mark - Home Office Member ✭
in Registers & Transactions (Windows)
I lately have made my minimum payments on my PayPal credit card from my PayPal account where I receive payments for freelance work. How do I categorize those payments? Thanks ahead of time.

Answers

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
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    Why is this different than any other CC payment?  Two separate accounts - PP cash and PP credit card. Transfer from cash to CC. Category in cash side transaction is [PP credit card acct name]. 
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
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    You categorize those payments exactly as you would if the payment was coming from your checking Account, i.e., it's a "transfer" from the PayPal Account to the PayPal credit card Account.  It just happens that you have some money sitting in a PayPal Account as opposed to a Checking Account, but the basic accounting is exactly the same: you use some of that money in the PayPal Account to pay down the liability you've accrued on the PayPal credit card.
  • Mark - Home Office
    Mark - Home Office Member ✭
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    Thanks so much for the help.

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