PayPal Currency Conversion
I have a client seling a high volume of items that are paid for via Paypal. Most of these transactions are very straightforward in that they are GBP.
The client has started to sell overseas Aus $, US $ and Euro's.
The client provides me with a spreadsheet of PayPal Txs (about 2500 lines per month) and the foreign currency sales are listed but not included in the running balance on the account. A 'currency conversion' line appears for the foreign currencies each month which is included in the running balance. Am I correct in assuming that this is the aggregate of all transactions in a particular curency in the month including both receipts and payments?
Is there a spreadsheet/software available to filter non balance impacting transactions and make the whole thing easier to post into SAGE (the client uses PayPal both for sales and to make purchases)?
Many thanks in advance.
- Do we have to register for VAT? 473 10
- Receipt bank 333 7
- Investment from Friend 162 9
- Self Assessment and P11D 119 4
- Director remuneration £1000 only in year. paye registration required? 337 4
- Pounds Shillings and Pence 624 23
- Company dividends 544 15
- Money laundering and can accountants be sued by clients if they make a report 163 5
- Directors Salary and Self Assessment (PAYE) 65 1
- Grammar, spelling and silly questions 903 38
- Tax Penalty overreaction 2,153 15
- Two weeks grace on self assessment where repayment is due? 149 2
- TRONC scheme 103 1
- Advice on letting a client go ? 705 13
- Capital Gains Relief 153 5
- client can't/won't pay 1,607 29
- Identity check problem 1,265 13
- A Director of a Ltd Company let a general Manager run the company, and if anything goes wrong the general manager is responsible? 203 3
- Business Set up cost 111 1
- Aged Debtor 89 1
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 876
- Underpaid VAT assessment and relation to SATR 575
- Did you realise Google will not patch android exploit ... 541
- Latest phishing scam 474
- Entrepreneurs' relief 423
- Cashback for opening business bank acct = trading income? 345
- Corporate LLP with 30 June Year end - How to record on SA800? 320
- Auto Enrolment Questions Answered 244
- Penalties- On Tax Returns (New Regime) 241
- Loan benefit after person ceases as director/employee 166