Preheat your oven to 350°F (175°C). Grease your doughnut pan with cooking spray or butter.

In a large mixing bowl, whisk together the all-purpose flour, baking powder, and salt. Set aside. In a separate bowl, use an electric hand mixer or stand mixer to cream together the softened butter and granulated sugar until light and fluffy, about 3-4 minutes. Add in the eggs, one at a time, mixing well after each addition. Beat in the vanilla bean paste.

Gradually add the dry ingredients (flour mixture) to the wet ingredients (butter-sugar mixture), alternating with the whole milk. Start with a bit of the dry ingredients, mix, then add some milk, and continue alternating until everything is fully incorporated.

Carefully spoon the batter into the prepared doughnut pan, filling each cavity about 2/3 of the way full. Use a spoon or spatula to smooth the tops if necessary.

Place the doughnut pan in the oven and bake for 12-15 minutes, or until the doughnuts are lightly golden and a toothpick inserted into the center comes out clean.

Once baked, remove the doughnuts from the oven and let them cool in the pan for 5 minutes. Then, transfer them to a wire rack to cool completely.

While the doughnuts are cooling, make the icing. In a small saucepan, melt the butter over low heat. Once melted, remove from heat and whisk in the powdered sugar, vanilla extract, and enough milk to achieve a smooth, pourable consistency. If the icing is too thick, add more milk; if too thin, add more powdered sugar.

Once the doughnuts have cooled completely, dip the tops of each doughnut into the icing, swirling them to coat evenly. If desired, immediately sprinkle with colorful sprinkles.

Allow the icing to set for a few minutes before serving. These doughnuts are perfect with a cup of coffee or tea!!