Financial Statement November - not reconciling

[CFOPeder]

I run a number of revenue channels that process payments through PayPal.  I just pulled down the Financial statements for the month of November, I have noticed two things.

1.   The format changed

2.    The reports do not reconcile - in other words if you sum the details presented they do not reconcile to the changes in balance beggining and ending - PayPal cannot explain why and are not aware of issue.

Has anyone else encountered this issue???

[Amanda411]

Hi CFOPeder,

Welcome to the community!

We are aware of this issue and anticipate a resolution very soon. 

I am sorry for any inconvenience.

Amanda

[Ianaam2]

This has been a problem at my company for longer than just last month -- it started to become material in September.  It's now at the point that the reconciliation is off by thousands of $.  We're a small Co. without a full time CFO but our bookkeeper recently brought this up.  It hasn't been urgent because the errors have always been in our favor (I think, but if they are making these errors, what kinds of other unnoticed errors are being made?).

Of course, we all know that reconciliation is a nightmare to begin with because of the relative difficulty of interface with Quickbooks.  We have thousands of monthly transactions and Paypal has become an expensive and time consuming accounting frightmare.

[phototiger]

Has anyone figured out why the 2010 yearly financial statement does not reconcile with the monthly financial statements nor the monthly sales reports??  Thought I had my taxes all set to go for 2010 but when I just printed off the new 2010 yearly financial statement the sales activity is off by over $7800 from what the sales activity shows if you add up each month's activity from the monthly financial statements.  Now I have no idea what figures to use since every report shows a different amount!  Frustrating!

[phototiger]

Beware!!  The Year End Financial Statements do not include December's data!!!  When I printed each Montly Financial Statement and compared the monthly sales activity with what was on the Year End Financial Statement I see that the Year End Financial Statement is off by the amount of December 2010's Sales Activity!