No subject

do a daily batch which would hit your account in typically 3 days
which could then reference the daily spreadsheet...???

I know that for me it was a little confusing but this was how I
tracked what had been paid and what had shipped or needed to be
shipped for a project I worked on.

Hope this helps but if nothing else it will give your question a "bump"

Thanks!!

Bret

On Fri, Nov 12, 2010 at 8:16 PM, Alex Balashov
<abalashov at evaristesys.com> wrote:
> Greetings,
>
> I apologise in advance that this is a bit off-topic. =A0However, I know
> that many of you who run service providers take a high volume of
> individual Paypal payments, many of them recurring.
>
> My question is this: =A0When withdrawing Paypal payments into a bank
> account, how do you correlate them on the bank statement to the relevant
> Paypal payment activity, and therefore the right customer/invoice/etc,
> from an accounting perspective?
>
> When there is a manageably small number of payments involved, it can be
> done chronologically. =A0And likewise, if the amounts are highly specific
> to each customer, that is also useful as a correlator. =A0However, I have
> found nothing embedded in the transaction ID or other identifiers that
> show up in the online banking interface from which a reference to an
> original Paypal transaction can be reconstructed. =A0It seems to me that
> the process of withdrawing money to a bank is a separate transaction
> from receiving payment via Paypal anyway, since Paypal gives you the
> ability to specify how much of your balance in its account you want to
> withdraw.
>
> I suppose the easiest thing to do - and I imagine, the norm - is to just
> record the incoming payments against open invoices at the moment they
> are received, and put them in an asset account, less the transaction
> fees. =A0When Paypal payments clear into the bank, just move the funds
> from one asset account to the other and be done with it, without
> attempting to establish whose payment it was that cleared. =A0The invoice=
s
> are paid either way, and the ultimate deposit destination of that money
> is just an asset transfer technicality.
>
> Still, I am curious if there are any more advanced options available or
> other handy tricks of the trade that anyone would be willing to share on
> how to reconcile high volumes of individual Paypal transactions.
>
> Thanks!
>
> -- Alex
>
> P.S. =A0I am referring to plain old Paypal here, not Paypal web payments,
> =A0 =A0 =A0 merchant account services, etc.
>
> --
> Alex Balashov - Principal
> Evariste Systems LLC
> 1170 Peachtree Street NE
> 12th Floor, Suite 1200
> Atlanta, GA 30309
> Tel: +1-678-954-0670
> Fax: +1-404-961-1892
> Web: http://www.evaristesys.com/
>
> --
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