PayPal doesn't provide a "balance confirmation letter" which our start-up's auditing firm requires. How do we keep the auditors happy and still use PayPal?
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Financial institutions (banks) provide this "balance confirmation letter" which is a certified document on a monthly or yearly basis. PayPal doesn't. What do other start-ups do to get around this auditing firm requirement?
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Answer:
After you login to http://PayPal.com, click on the "My Account" tab. You should see a "Statements" section under "My Account". Clicking on "Statements" should give you access to a list of Monthly Statements for your account. Each Monthly Statement should summarize your PayPal activity and give you starting/ending balance info. Hope that helps!
Yee Lee at Quora Visit the source
Other answers
Maybe because PayPal is not regulated by rules like those banks have to follow in a specific country. Also a PayPal account can be the account of anyone on earth and it is no way relating it to a specific company like a bank account can be.
Enor Nakuci
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