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Looking for some bookkeeping advice


Looking for some bookkeeping advice

I’m hoping someone can help me with the following inquiries for proper bookkeeping.


Under “reports” on PayPal business account.

  • Statements
  • Activity report
  • Financial summarizes


I noticed each one lists slightly different information/details and wondering which is best for going through monthly for figuring out deductions?


Also from my understanding, money I refund to a buyer has to be accounted for when filing as PP only shows money received but, what if it’s an expense refund?


Example: I purchase something for $20 I later return and get refunded same item: $20


Does PP count the $20 as money received and adds it towards gross income at the end of the year on 1099?