I just created a paypal business account. I will be getting two paypal test payments of 1 to 1.5 inr in my corporate account in few days - It is not a sale. It is just for opening paypal account. should i create invoice and receipt for that ?
If no, how can company account for that ?
Thanks sir :)
Either accumulate this and wait until you make real payments or write it off as miscellaneous expense. This is if your making test payment.
If your receiving.a test payment, then no need to account for it as the amount is insignificant and not a business transaction
SSGS and Associates
Chennai
CA Inter
View Details
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
View Details
Karia Overseas
Ahmedabad
CA
View Details
SMJ global advisors pvt ltd
New Delhi
B.Com
View Details
CAclubindia
