Calculating Tax? - PAYPAL Transaction History is INCORRECT!
I battled this for two days and eventually put my foot down to declare that it's a clear error in the PayPal system.
If you are calculating your incomings and outgoings for tax purposes and you use the transaction history search feature, you'll want to know this.
The following two pictures show search results of transactions I've made with a certain company (a drop shipper of mine). Upon searching for transactions with this company from 6th April 2012 to the (then) current date I'm greeted with only 3 results.
Knowing that I've dealt with this company more than 3 times sending money to them this year, I know immediately that this data is incorrect.
After messing around with it for hours I finally manage to reveal the true data by setting the end date to October.
Upon contacting PayPal they claimed that they searched themselves and that only 3 transactions were made this year to the company in question. However, upon presenting this data (the pictures below) they have admitted fault and a full investigation is taking place.
You might want to check your own PayPal is functioning correctly by trying to replicate the problem. If you encounter the same, you might want to hold off on calculating your finances by using the search function!
I recommend (as does PayPal now!) to download records and pick out outgoings and expenses manually.
I'll update when I hear more from PayPal.
If you are calculating your incomings and outgoings for tax purposes and you use the transaction history search feature, you'll want to know this.
The following two pictures show search results of transactions I've made with a certain company (a drop shipper of mine). Upon searching for transactions with this company from 6th April 2012 to the (then) current date I'm greeted with only 3 results.
Knowing that I've dealt with this company more than 3 times sending money to them this year, I know immediately that this data is incorrect.
After messing around with it for hours I finally manage to reveal the true data by setting the end date to October.
Upon contacting PayPal they claimed that they searched themselves and that only 3 transactions were made this year to the company in question. However, upon presenting this data (the pictures below) they have admitted fault and a full investigation is taking place.
You might want to check your own PayPal is functioning correctly by trying to replicate the problem. If you encounter the same, you might want to hold off on calculating your finances by using the search function!
I recommend (as does PayPal now!) to download records and pick out outgoings and expenses manually.
I'll update when I hear more from PayPal.
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