Accounting: how should my agency report PayPal distributions
Thread poster: Maxime Bujakov

Maxime Bujakov  Identity Verified
France
Local time: 13:13
Member (2006)
French to English
+ ...
Feb 10, 2014

My LLC has a paypal account from which I pay service providers (translators),
I serve multilingual translations as an LLC (even though I am the director, PM and accountant all in one).

a typical amount being USD 5 via PayPal
(Sony, we did this good introductory job for you and miss you now!)

Now my annual accounting preparer asks me to provide personal ID numbers for all such our translators and other personal details.

Could somebody share your experience reporting such PayPal micropayments?

Any info greatly appreciated, and good day everybody!

Maxim

[Edited at 2014-02-10 12:04 GMT]


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IrimiConsulting  Identity Verified
Sweden
Local time: 13:13
Member (2006)
English to Swedish
+ ...
My Swedish accountant just asked for account statements Feb 10, 2014

I asked my accountant the same thing, and she asked me just to send screenshots with PayPal account statements.

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Jack Doughty  Identity Verified
United Kingdom
Local time: 12:13
Member (2000)
Russian to English
+ ...
I report earnings in terms of what I actually get from PayPal Feb 10, 2014

I also send full details of my PayPal account to my accountant. Haven't had any trouble with this so far.

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Maxime Bujakov  Identity Verified
France
Local time: 13:13
Member (2006)
French to English
+ ...
TOPIC STARTER
thank you, Irimi Consulting ! Feb 10, 2014

IrimiConsulting wrote:

I asked my accountant the same thing, and she asked me just to send screenshots with PayPal account statements.


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Maxime Bujakov  Identity Verified
France
Local time: 13:13
Member (2006)
French to English
+ ...
TOPIC STARTER
my PayPal account Feb 10, 2014

Jack Doughty wrote:

I also send full details of my PayPal account to my accountant. Haven't had any trouble with this so far.


Dear Jack, thank you!

So, for example, if you hire me and pay me from your PayPal, you won't need my passport number and home address? So, probably, I can simply say that money sent _via_ PayPal are indeed sent _to_ PayPal?


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Accounting: how should my agency report PayPal distributions

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