Best way to log transactions on PayPal?

Discussion in 'Accounts & Finance' started by PepperingAsh, Dec 6, 2018 at 8:35 PM.

  1. PepperingAsh

    PepperingAsh UKBF Newcomer Free Member

    6 0
    Hello,
    I am looking for advice on how I should log all of my PayPal transactions, as we trade in multiple currencies and have over a hundred transactions in PayPal it can become a headache, right now I am doing a basic excel work sheet for each currency and working out each transaction. But it just don't seem to working or as efficient as I'd like.
    Wanted to know your guys suggestions.

    Cheers!
     
    Posted: Dec 6, 2018 at 8:35 PM By: PepperingAsh Member since: Dec 6, 2018
    #1
  2. STDFR33

    STDFR33 UKBF Big Shot Free Member

    3,569 867
    Are you currently using a bookkeeping package, or are you attempting to do everything in excel?
     
    Posted: Dec 6, 2018 at 8:38 PM By: STDFR33 Member since: Aug 7, 2016
    #2
  3. PepperingAsh

    PepperingAsh UKBF Newcomer Free Member

    6 0
    Currently doing everything in excel
     
    Posted: Dec 6, 2018 at 9:01 PM By: PepperingAsh Member since: Dec 6, 2018
    #3
  4. Mr D

    Mr D UKBF Legend Free Member

    10,554 1,106
    Monthly reports.
    We used to trade in several currencies and had a few thousand PayPal transactions a month.
    Accountant at the time told us to do monthly reports and pull from that.
     
    Posted: Dec 6, 2018 at 10:32 PM By: Mr D Member since: Feb 12, 2017
    #4
  5. PepperingAsh

    PepperingAsh UKBF Newcomer Free Member

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    What formats do you use for this?
     
    Posted: Dec 6, 2018 at 11:01 PM By: PepperingAsh Member since: Dec 6, 2018
    #5
  6. Mr D

    Mr D UKBF Legend Free Member

    10,554 1,106
    I entered each total into the program I was using. Was quickbooks, now VT.
     
    Posted: Dec 6, 2018 at 11:04 PM By: Mr D Member since: Feb 12, 2017
    #6
  7. PepperingAsh

    PepperingAsh UKBF Newcomer Free Member

    6 0
    Does anyone else have more suggestions?
     
    Posted: Dec 8, 2018 at 2:46 PM By: PepperingAsh Member since: Dec 6, 2018
    #7
  8. Inva

    Inva UKBF Regular Free Member

    196 29
    Using PayPal's IPN i would log transaction data in my own system. I think they provide currency conversion data as part of it as well as fees etc.
     
    Posted: Dec 8, 2018 at 6:38 PM By: Inva Member since: Aug 10, 2018
    #8
  9. PepperingAsh

    PepperingAsh UKBF Newcomer Free Member

    6 0
    I have tried some other methods such as quickbooks but it is lacking in features, I guess I will have to stick with spending 100s of hours with logging every transaction manually through the year.. any other suggestions guys?
     
    Posted: Dec 9, 2018 at 2:45 PM By: PepperingAsh Member since: Dec 6, 2018
    #9
  10. Scalloway

    Scalloway UKBF Legend Free Member

    14,037 2,993
    I would just enter a total for sales each month. As long as you keep back up records for the individual transactions I can see no need to enter every single sale.
     
    Posted: Dec 9, 2018 at 4:20 PM By: Scalloway Member since: Jun 6, 2010
    #10
  11. Mr D

    Mr D UKBF Legend Free Member

    10,554 1,106
    Which features are you after that quickbooks doesn't provide?
     
    Posted: Dec 9, 2018 at 4:42 PM By: Mr D Member since: Feb 12, 2017
    #11
  12. PepperingAsh

    PepperingAsh UKBF Newcomer Free Member

    6 0
    To be honest, I think I need some sort of guide. I need someone to tell me how they do things exactly so I can have a go at this myself.
     
    Posted: Dec 10, 2018 at 5:10 PM By: PepperingAsh Member since: Dec 6, 2018
    #12