No more “extra” transactions. This means you won’t see transactions that are duplicative or intermediate statuses. This includes authorizations, temporary holds and reversals, etc.
To better understand how the Connect to PayPal app will handle your transactions, see the table below:
|Transaction Type/Item||Handling within QBO|
|Income / Sales||Each "money-in" transaction will provide you the option to create a Sales Receipt or a Deposit:
|Expenses||When the PayPal account is used for a purchase, an expense transaction will appear in the list of transactions on the Banking screen to allow for categorization.|
|Funding transactions||Transfers: Money movement between bank accounts and the PayPal account will appear as a transfer.
|Sales tax||If Sales tax is turned on, it is mapped upon setup. If at any time, you need to edit it:
|Customers||The suggested customer is shown in the bank transaction list, but if the suggested customer is not in QuickBooks yet, you’ll need to create the customer by using the Payee drop-down.|
|Vendors||The suggested vendor is shown in the bank transaction list, but if the suggested vendor is not yet in QuickBooks, you’ll need to create the vendor by using the Payee drop-down.|
|Items (Products / Services)||Products/services will sync as line items on the sales receipt if the item name within the two systems (PayPal and QBO) match. Otherwise, the items will appear as “PayPal Sales” on the sales receipt line details|