I understand all of the "hubbub" about security and whatnot, but I think we've taken things a bit too far these days.
Starting back in December of 2022 PayPal began eliminating showing where each transaction came from or where it went to. Well, not, "began", THEY DID ELIMINATE IT.
Because PayPal acts as a "middle-man", PayPal needs to be funded if it hasn't already been funded by means of earnings through eBay or similar trading mechanisms. Most times people (clients) use PayPal as a wallet, where they have MANY credit AND debit cards and use them without rhyme or reason leaving bookkeepers struggling to keep up with their daily activities which is difficult enough. Now to make our lives more difficult, PayPal goes and eliminates the last 4 digits of the account of which the transaction originated or where the transaction is destined to land. Now it becomes a Hunt and Peck routine where we need to go into all of these "OTHER ACCOUNTS - ASSET OR LIABILITY" , first and of course, reconcile them. BUT HOW DO WE KNOW FOR SURE IF THE TRANSACTION THAT WE SEE IN ONE ACCOUNT IS THE SAME IN THE PAYPAL ACCOUNT??!!!
What I mean is this; clients have a habit of spending money the same way every single time. They often will spend $100 or even $20 on each and every transaction for say 10 transactions in a row. Perhaps $20 on gas using one credit card, $20 on restaurant (with tip) on another credit card, $20 on lottery tickets using a debit card, etc... all going through PayPal. Now some will say, "Does it really matter which one you choose?" OMG! DON'T MAKE ME GET INTO THAT ARGUMENT! I'm an old timer, and I'm sorry if I don't think the way the Gen X, Gen M, Gen Z and newer Gens think. I reconcile not only $ signs but also the actual "transaction in question if it comes down to that", so in case there is ever a question, I can always go back and figure out what may have happened.
Anyway, I "digest 😉". The point of this post is that PayPal has now created a totally useless tool for bookkeepers. Perhaps it's okay for people who keep a simple register, but not for anyone who needs to understand where money comes from and where it goes...
PLEASE BRING BACK THE 4 DIGITS! - WE PROMISE THAT WE'LL BE GOOD BOYS and GIRLS and THEMS and THEYS. We promise not to take the last 4 digits of these 16 digit coded cards and try to break into these highly secured banks or credit agencies. Just please help us out for a change rather than tying our hands behind our backs and then tying them to our feet! We promise on the Master, We Promises... We Promise on the, the We PROMISE ON THE PRECIOUS!!
