Software for importing Paypal data?

[craftycatsattic]

Has anyone found an accounting software that works for importing paypal data?

I bought Quick Books which does not work unless you purchase the Professional US version. The same company Intuit, does not have any Canadian products that are capable of doing this.

I also wonder about issues dealing with working with both Canadian and US currencies.

Last year I printed each and every payment received and sent and had to manually write in all the fees/convert the currencies and put into a spreadsheet so that I could do my taxes. Has anyone found a better way to do this?

Thanks!

[jakeeangel]

Do you have Excel? Go to the PayPal website. History. Download History <--link on the left.

Enter the dates you want, show how you want it comma delimited or tab delimited and request it. They'll email you when it's ready for download. A couple of minutes at most.

You can request both comma and tab delimited in separate requests. You'll get the data you need. There's no need to do it the way you're doing it. That'd be quite the nightmare!!

It'll take a bit of getting used to the formatting but open it in Excel and widen the columns and you'll see the data. It's easy to do. :)

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[futuretech_liquidations]

We use QB Professional with the multi-currency module and as for exchange rates you can either use the exchange rate that is on the paypal invoice and/or according to CCRA you can also use a monthly average based on Bank Of Canada rates.

We do it using the exchange rate that is shown on the paypal transaction page.

Also, we were audited in January of this year and they went back 3yrs with a very fine comb - CCRA does not really know to much about how eBay works so make sure you keep alot of paperwork the more the better -- DO NOT rely purely on your electronic records --> this is what the auditor told us - we have a print-out of everything that comes and goes into our eBaY and Paypal accounts.

Also, if you make a sale and then the client does not pay most people think you do not have to record this since the item was never paid for -- this is wrong because according to general accounting rules a sales is a sale regardless of payment and you must submit the tax on it and then claim the tax back via credit note.

Anyways -- talk to your account if the above is something that you have NOT been doing.

Good luck

TIM @ FTL