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Post Info TOPIC: Ecommerce Bookkeeping Questions
jd_james


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Ecommerce Bookkeeping Questions
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Hey Guys , This is my first post so hi all, I'm a sole trader selling mainly on eBay using PayPal and my own website. I am looking to entire better bookkeeping, currently I download a csv of all PayPal sales but was recently reading an accounting book which discussed about cash books and recording transactions going in and out of bank accounts. Why do we do this and how would I do this if I mix PayPal and my bank account? Secondly how do you prove your PayPal sale receipts which you get online as its not possible for me to print off 200 sheets of sales a week. I download the csv to use to find out stock costs and obviously PayPal fee's. Thanks in advance. James

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Stuartbham


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Hi James

Welcme to the forum.

I have a client in a similar position who had a tax investigation and the inspector was happy with the CSV version rather than the print outs.

They were also pleased to see the regular transfer of PayPal funds into the business account, so obviously having a business account is a must.

You should be fine.



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Stuart

Birmingham City FC - Blues is my religion St Andrews is my church
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