PayPal offers a faster, more secure way to pay online. It serves as an electronic alternative to traditional banks. Many e-commerce providers uses Paypal as one of the payment solutions. In order to ensure each transaction details are booked properly for your accounting and auditing, you are also required to download the Paypal statement each month.
PayPal is an online payments system to support online money transfers, and serves as an electronic alternative to traditional bank. Similarly, we need to submit the PayPal monthly statement as a operating record for accounting and auditing purpose.
You can download your PayPal monthly statement into CSV or PDF file for accounting and auditing use. The advantage of CSV file is it can be opened in any spreadsheet program such as Microsoft Excel.
For further information, please contact us.
You may want to read: CHECKLIST FOR ACCOUNTING AND AUDITING IN HONG KONG