Christine Diaz (132 Points)
12 June 2021I 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 :)
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 12 June 2021
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
CAclubindia
