How to Keep Track of your PayPal Account

PayPal is being used by virtually every type of business from individuals selling on Ebay to large corporations like Verizon. In many cases, PayPal is the preferred method of online payment both among businesses and consumers.

If you have a business and accept PayPal as a form of payment, you will want to make sure to keep track of the funds you have in your account.

But how exactly do you go about doing so?

I have been asked this question on more than one occasion and the answer is not hard; treat your PayPal account as you would your bank account. Keep a separate register (as you would for your bank account) of all the transactions you generate through PayPal. Be sure to reconcile (balance) your offline register to your online account frequently to verify the balances match. You should also print any email PayPal sends you regarding payments and file them in a safe location.

PayPal has done a wonderful job making the account screen easily viewable to users. Once you are logged into your account, you will see a yellow box toward the top of the screen that tells you what your account balance is. Below that is a listing of all your transactions. This list tells you the type of transaction that has taken place, where the payment was sent to or received from, the amount paid and the date the transaction took place.

PayPal is a valuable tool for many online businesses. Using the tips outlined in this article, you should be able to make the most of your PayPal account. Visit PayPal’s website at http://www.paypal.com. 

Article by Jacky Gamble