How to Find Out How Much You Paid in Paypal Fees Last Year

By now, you’ve probably received most of your needed tax documents in the mail and may even be gearing up for tackling your federal taxes (or taking your shoe box of things to your accountant).  Either way, if you have a business, whether as a blogger, an online shop owner, or the like, you may very well have received payments via Paypal last year.  In that case, it’s important to record your fees paid to Paypal as a business expense.  But — what if you haven’t been keeping track of those fees?

I am woe to admit that in the past, I have gone through and manually just worked my way through transactions to figure out how much all those Paypal fees cost me throughout the year.  This year, however, I knew that I had way too many transactions to do that manually.  I prayed that there was a way to easily find the fee information.

Lo and behold – there is!  (At least, there is for business accounts.  I imagine this means that this is also available for premier accounts, and hopefully for personal ones as well.)

To Find Your Paypal Fees Paid Last Year:

1. Login to your Paypal account.  (Okay, yeah, that was a given.  This was kind of like the directions on Google maps when they tell you how to get out of your neighborhood, right?)

2. Near the top of the page (but under the tabs that say things like “Request Money” and “Send Money”), you will see a link called “History.”  When you hover on it, you’ll see a drop down and one of the options is “Reports.”  Click on “Reports.”

3. Under the section of “Summary Reports,” you’ll see a link that says “(Past Year) Financial Summary.”  So, at the time of this writing, it says “2011 Financial Summary.”  Click it!

4. You will be able to either save the document or open it.  Personally, I opened it to see it (and there is a whole section on it just about Paypal fees, so you’ll know your total from last year), printed it, and then saved it to my computer.

Hopefully this will save you time where figuring out your Paypal fees from last year are concerned.  Definitely don’t forget to write them off as a business expense!

This post is linked to Works for Me Wednesday.

Comments

  1. says

    I love tutorials like this! I did happen to find a report this year on paypal that gave me the info I needed for taxes. It made tax time SO much easier!

  2. says

    Angie, this is such great information. I have discovered in my 3 1/2 years of having an Etsy shop, that many people do not even consider Etsy fees or PayPal fees when figuring their end of the year profits. Often their reason is that the fees are just too much work to figure out.

    Again, great advice. Thanks for sharing.

  3. says

    Thank you for this informations…was indeed a “little blessing” as I have been dreading figuring this out.

  4. says

    Thanks for sharing this! Last year I just added everything up. This will be a big time saver this year. Thanks again!

  5. says

    Angie, thank you so much for sharing this information. So glad I found your blog in early 2013. Will be visiting often!

    You just saved me about 1.5 hours of frustration! I appreciate it – wishing you a belated Happy New Year!

  6. says

    This post may be older, but it’s still relevant. Thank you for sharing your knowledge. A year later, it’s still really useful!

  7. Janelle M says

    Hello,

    I do not have a “reports” tab under history. Has this changed for 2014?

    • says

      It looks like it has changed up some, but I still have “History” and then “Reports” and then it will be “Annual Financial Summary.” You don’t have a “Reports” option at all?