My wife and I,has always be doing the accounts this way, I need a bit of advice please as I do not want to set Manger in the wrong way from start.
Main Bank account in EURO
The way I currently do it is:
Money comes in the Paypal USD, I create a transfer in my Main bank in Euro and calculate the gain/losses for that day. But I have to do this for every single transaction, it is a long process as many of my sales are no more than 0.89 Eur(Songs).
Once an accountant told me, why do you bother inputting all the Paypal receipts when you can simply transfer all the money to your main bank account once per month and only register this once per month.
Another accountant told me, “you should register all the Paypal sales and transfer them one by one in your main bank account”
Now the question is, which way would you go please in manager because I have to admit, the Paypal inputting is annoying and slow…
Let’s say I listen to the first accountant and move the balance once per month, file all my receipts, I see multiple problems here…