Rachel and Dan will discuss some best practices and workflows when reconciling PayPal accounts.

Workshop Wednesdays are a free live discussion about topics affecting Accountants, Bookkeepers, and Business Owners. Register for the Live sessions at: https://www.schoolofbookkeeping.com/workshop-wednesday Brought to you by http://www.schoolofbookkeeping.com - Keep Learning

00:00 Introduction and Casual Conversation

01:06 Challenges of Reconciling PayPal

02:13 Importance of Accepting Multiple Payment Methods

06:53 Classifying PayPal in QuickBooks

10:47 Best Practices for Managing PayPal Balances 1

6:48 Handling Transfers and Expenses in PayPal

22:09 Complexities of Multiple Bank Connections

24:16 Complexity of Managing Multiple PayPal Accounts

26:04 Reconciling PayPal Like a Bank

26:30 Special Circumstances for PayPal Usage

29:24 Challenges with High Volume PayPal Transactions

32:49 Handling PayPal Clearing Accounts

34:13 Importance of Accurate Revenue Reporting

43:19 Upcoming Features in QuickBooks for Auto Reconciliation

46:53 Conclusion and Future Topics

#sarcasm Yay!! There's a new Invoicing experience in QuickBooks Online!! This new "experience comes with som new features, but takes away some existing functionality. Rachel and Dan unpack what you can, and now what you can't do so you can get experienced in this new experience.

Workshop Wednesdays are a free live discussion about topics affecting Accountants, Bookkeepers, and Business Owners. Register for the Live sessions at: https://www.schoolofbookkeeping.com/workshop-wednesday

Brought to you by http://www.schoolofbookkeeping.com - Keep Learning

Many times Unapplied cash payment is questionsed and never answered. Rachel and Dan will discuss this account, how it got there, and what you can do to remedy it. Workshop Wednesdays are a free live discussion about topics affecting Accountants, Bookkeepers, and Business Owners. Register for the Live sessions at: https://www.schoolofbookkeeping.com/workshop-wednesday Brought to you by http://www.schoolofbookkeeping.com - Keep Learning