Finance Articles

Automated Accounting for Paypal

(PRWEB) September 26, 2007 -- The number of people selling products on eBay has grown massively in recent years. Some sellers are just selling a few unwanted items from around the house. Increasingly though, companies are using eBay as another route to market or as their sole sales channel. But how do these sellers manage to keep accurate financial records of these high-volume, low-value sales?

Until now it was a matter of manually re-keying data into an accounts package. A long and laborious task and one that leaves a lot of room for human error.

KashFlow, the online accounting software company, have today released a tool called PP:Konnect. The program connects to PayPal, automatically reads information about your customers and sales for a given period and enters the information into your KashFlow accounts package. This is done in a matter of seconds with no room for error.

David Cartwright runs www.abonanza.co.uk, a site that sells accessories for Hen nights. Speaking about the problems facing eBayers he says, "We get a lot of business from eBay and our website payments are also made via PayPal. It works very well for us but the biggest issue has always been keeping track of the accounts."

As an established KashFlow user, David was invited to test the PP:Konnect program prior to its public release. "I had high hopes as I had already been very impressed by the ease of use of the KashFlow accounting software." he continued, "This new tool does exactly as it says on the tin. A couple of clicks and our accounts are up-to-date and 100% accurate. It's easily going to save me over 10 hours every week."

Duane Jackson is the Managing Director of KashFlow and speaking about the software he said, "We released our API a few months ago. The API enables anyone to develop programs like this. This tool was created in-house just as a proof of concept for the API. Within minutes of announcing its availability to our customers we received dozens of emails from customers that were amazed at how well it worked."

One such customer is Michael Gill from www.teepleasebob.co.uk, "I could not believe how simple it was to set up. My business is eBay-based and our website accepts PayPal. I have been able to insert all my transactions since the start of my business in less than 15 minutes. I could not ask for more to make my book keeping simple, enjoyable and a pleasure to complete."

The program is available free of charge at www.kashflow.co.uk/api. A KashFlow account is also needed -- this is available for free for 60 days.

Editors Notes:

For further information contact andy @ kashflow.co.uk or 01452 527898.

--    KashFlow has received two rounds of venture capital funding from Lord Young of Graffham, former Secretary of State for Trade & Industry and ex Chairman of Cable and Wireless

--    KashFlow has been nominated in the 2007 Software Satisfaction Awards for the category of Web-Hosted Accounts

--    KashFlow is simple to employ, with users instinctively knowing where to click to perform almost any accountancy task

--    Owner managers are able to effectively manage their accounts with no need for software training or prior knowledge of accountancy

--    KashFlow has been featured in the likes of the Financial Times and The Daily Telegraph

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