I am unbelievably frustrated trying to reconcile downloaded Paypal transaction totals in Quickbooks with Paypal statements. Not very many transactions and still thousands of dollars off. Among other things, it seems that transactions get downloaded that aren't real transactions but just internal transfers. One would think they would all come out in the wash but they don't. I've looked at all the different reports, gone through line by line and just can't get things to match. FYI, I do bookkeeping and reconciliations for a living and have been doing that for over 40 years so I totally understand how it is supposed to work but Paypal seems to have its own rules for how to record transactions that end up duplicating entries and I don't know what else.
Back about 10 years ago I remember reconciling Paypal before and it was relatively straightforward but the reports now don't make any sense at all.
Anyone run into this kind of thing or have any tips?
Thanks!
