Hi
I have just uploaded statement from natwest and suddenly I’m £1500 short. I’m trying to reconcile but the numbers are totally wrong now.
Before my previous upload the difference was £100-200 different and that was probably due to some amounts still not visible on the statement/downloaded.
But how suddenly £1500 in one month?
I always use “download transactions from my last download” in my natwest account and this time I have downloaded them fro the last 2.5 months.
I went back to 29/05/2014 and that day i’m 887.50 over, today I’m £1500 short.
So, when you use the Bank Reconcile feature, that’s telling you that you’re over?
Are there any transactions missing. You say from the end of May you’re £887.50 over, and by today £1,500 under - check between the two dates and see if you notice anything missing from there firstly (maybe even try a smaller date range first). If you’re 100% sure nothing is missing from QF compared to the bank statement, then I’d imagine @Glenn will have a look into this further.
Just trying to pin-point exact errors and whether or not it’s a Quick File error or just missing transactions.
Always the first thing to do in this situation is work back and identify the last date when your balance was correct. You then need to scan forward from there until you discover the erroneous entry/entries. More often than not they are due to manually entering payments from invoice and then uploading the bank statement, causing some duplication.
thank you
I think the reason for that was that I have deleted all Paypal transactions from 1st of Jan 2014 (my Paypal feed didn’t work properly).
Now as I have tagged some Paypal transactions as payments to my bank account I’m £400 over.
Bit I still find Paypal feed very confusing.
when for some reason money already paid by customer is blocked by paypal (for example due to ebay case) and then released I see another “money in” transaction. If for some reason there is currency exchange involved it is even more complicated.
wouldn’t be good idea to skip Paypal and concentrate only Paypal amounts that are only transfered to my Bank account?
In that case all this Paylal exchanges and holding money will take place “behind the scene” - that way I could concentrate on bulk money coming from Paypal, not on individual payments.
Tom
Hello
My another question is if I can
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Change the balance of my Paypal account as for today - it is £260 short as for today, but there is £0.34 in that balance on Paypal for the last few days. I would like to make a fresh start with that account as now it will be impossible for me to find out where the problem is.
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Other option I was considering was if I can create brand new account for the same Paypal and start with opening balance of £0.34? And try to keep more control over it.
Tom
The PayPal feed must include the details for those that want to create invoices for each payment received, just pulling in the withdrawal totals wouldn’t allow you to do this.
If you don’t need an invoice in QuickFile for every sale made on PayPal then you don’t really need to use the feed at all. Instead I’d suggest bulk entering PayPal sales weekly or monthly as an alternative. That basically means going onto PayPal pulling up a total for all sales in August and entering it as one line on your PayPal merchant account in QF, then tagging to a sales invoice.
I would recommend referring to the following guidance which details this process.
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