Jul 272011
If you are doing any volume of PayPal transactions at all, it’s probably easiest to look for accounting software that will handle PayPal transactions by data import or full integration.
PayPal accounts would normally be set up as an additional bank account in your accounting software, (this will also give you the option of paying suppliers via PayPal too, as many eBay traders do)
It”s important to reconcile your PayPal account regularly (at least monthly, but more frequently, if your transaction volume is very high). This will improve the accuracy of your accounts, reduce year-end accountant fees and help you spot and correct errors quickly.
