I hate running numbers and year end numbers is always the worst! As soon as I know that I'm not receiving anymore payments and that I'm not making anymore payments for the rest of the year, I run the numbers. Yes, I am ready to go and do my taxes already! Now we're just waiting on my husband's W2 to come in.
This year, doing the numbers took much longer than usual. I downloaded the different spreadsheets and went to get started. For some reason, I was showing we were over $3000 in the hole! You can imagine my surprise. After all, we don't use a line of credit, don't write checks, and only spend what we have come in so how can we be in the hole? I imagine it's possible, I guess, but no clue how.
As I started reconciling sheets against my records, I made an alarming discovery. Paypal had multiple entries on multiple transactions. $8,000 worth! Of course, I had already sent W9 requests before I caught the error (and cancelled those requests) but that was still a pretty major mistake to have been made. I can only imagine the types of issues that can occur if a person is relying solely on another company's payment records.
I did, eventually, straighten it out but still... such a nightmare! I can't imagine why Paypal would make double entries like that. I'm just glad I caught it in time.
In other news, about to head out to see the Christmas lights. The weather is fantastic for this. We went to see the lights last year too. The children had a fantastic time.
I hope that everyone's Christmas/Yule/Hanuka/Kwanza/name-your-favorite-holiday-here is wonderful in every way.
Happy holidays everyone!
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