What do I do with "credits" from Paypal?

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I have just opened up a “merchant account” with PayPal for our company. In order to verify bank account details, PayPal sent me a credit of £0.01 together with a four digit code to our company bank account. They also paid a “goodwill gesture” of £1.00 directly to our PayPal account, due to problems getting our debit card linked to Paypal account.

So, I now have two transactions from PayPal (£0.01cr and £1.00cr) showing on our bank account. How do I tag them when I download the statement?

2

Hi @Harvie

“Misc income” would do the job. The below is taken from our old forum:

  1. Click the ‘Tag Me!’ to tag the deposit.
  2. Then select ‘Something else not on this list’ .
  3. Enter ‘Miscellaneous Income’ for the 'Post to Account.
  4. Enter ‘Paypal Verification Deposit’ as the ‘Description’.
  5. Finally, click ‘Save’ to save the entry.
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Thanks so much for the fast and extremely helpful response.

Thought that I might have had to wait till the New Year to get a reply! Guess that I’m not the only one who is working during Christmas and New Year :smile:

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