[GNC] Reconciling PayPal

[David T.]

I get pdf PayPal statements that can be downloaded, just like from my bank. 

⁣David T. ​

On Dec 14, 2022, 2:00 PM, at 2:00 PM, "Dr. David Kirkby" <drkirkby at kirkbymicrowave.co.uk> wrote:
>On Wed, 14 Dec 2022 at 03:45, R Losey <rlosey at gmail.com> wrote:
>
>> I assume you can reconcile an asset account like any other bank
>> account.... you can tell it the date you want to reconcile, but it
>lists
>> all of the transactions...
>>
>
>My understanding is that the purpose of the reconciliation is to enable
>one
>to compare that the balances of two sets of accounts are in agreement.
>The
>most obvious example being that the amount of money that your bank says
>you
>have agrees with one's own records. In order to do that one needs to
>know
>what the bank says your balance is on a particular date. In the case of
>reconciling the PayPal account, one would need to know what PayPal says
>the
>balance is.
>
>If I log into my business bank account, personal bank account or credit
>card using the mobile app on the phone, I can see what the financial
>institutions say my balance is on any date I want. But what PayPal says
>my
>balance is on any particular date is not easy to find. One has to
>download
>a CSV or similar list, and in the case of the CSV file, the balance is
>the
>34th (from memory) column - well away from other numerical data.
>
>Only once I know what PayPal thinks the balance is can I compare it to
>my
>own records in GnuCash, and see if there are any discrepancies.
>
>One's PayPal balance can change, without one making any transactions. I
>sold something to an Indian academic, and got credited with £1000 or
>thereabouts. I withdrew the money to my bank account. He then claimed
>some
>parts were missing, so put in a claim, wanting extra parts. That made
>the
>balance negative, despite there had been no transaction.
>
>Dave
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