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Experienced Member

Changing the account on an existing transaction

I have dozens of transactions imported from my PayPal account that QB has classified as "Consulting Income" but I want to change them to "Sales of Product Income". But the account information is grayed out. What is the solution to this very annoying problem?

10 Comments
QuickBooks Team

Re: Changing the account on an existing transaction

Hello there, @Poonie.

 

Thank you for visiting the Community space. I can provide you the solution about changing the posting account of your Paypal transactions to "Sales of Product Income".

 

The option to update the category of the transactions is only found in the For Review section. You'll have to undo all the Consulting Income classified transactions so you can change them to Sales of Product Income.

 

Here are the steps on how to mass undo transactions:

  1. Click Banking
  2. Go to the Reviewed tab and select the transactions.
  3. Click Undo.

1.PNG

Under the For Review tab, you can already change the transaction's category:

  1. Click the transaction and choose the Add radio-button.
  2. For the Category field, choose Sales of Product Income.
  3. Click Add.

 

That should change the transaction's account to Sales of Product Income, Poonie. For more information, you can open this link: Add and match downloaded banking transactions.

 

Keep me posted if there's anything else you need. I'm here to help you more about banking. Just add a comment below. Have a good one.

Experienced Member

Re: Changing the account on an existing transaction

My PayPal transactions don't show up under Banking. They show as Sales Receipts and I don't see a way to change the account.

Established Community Backer ***

Re: Changing the account on an existing transaction


@Poonie wrote:

My PayPal transactions don't show up under Banking. They show as Sales Receipts and I don't see a way to change the account.


Go to the Item edit screen (Sales>Products/Services), and change the linked income account and check the box underneath to also change history.  Then for future transactions you may want to change the "Item" that is used in SRs. Not sure how to do that.  It's either on the Paypal website or most likely in the app settings.  Although if you change the linked income account you can continue to use the same item.  It is strange that it's called "Consulting" when you say it Sales of Product.  Is that the Item name?

Experienced Member

Re: Changing the account on an existing transaction

What makes this a little challenging is that about 1/4 of the PayPal transactions are for "Consulting" while the rest are "Sales of Product Income". While it is convenient to have these transactions imported automatically, it obviously means some of them are in the wrong category.

 

For now I am changing the category associated with "PayPal Item" in my list of products and services so that all of them are initially categorized as "Sales of Product Income". That will result if the fewest revisions after import.

Established Community Backer ***

Re: Changing the account on an existing transaction


@Poonie wrote:

What makes this a little challenging is that about 1/4 of the PayPal transactions are for "Consulting" while the rest are "Sales of Product Income".


I have the same problem with 2 kinds of income coming in from Paypal.

 

There is a new feature in the Paypal feed in Banking. You can click on the "Details" link to go into the SR and change the Item, and then "Add" from there. Before you had to first Add and then go and find the SR and edit it.  It's a bit of a time saver

 

It would be great if you could have different Items which are assigned based on a Rule, but I can't see how to do that

QuickBooks Team

Re: Changing the account on an existing transaction

Welcome back to our forum, @Poonie,

 

Thanks for updating us about your concern with changing the accounts of your sales receipts.

 

Malcolm Ziman shared great insights on how to complete your work in QBO. You're on the right track with manually modifying the item categories, so it reflects as Sales of Product Income after importing. At the moment, were unable to do a batch update for your items, so you'll need to edit them one at a time.

 

You can also use the all-new Connect to PayPal app to manage your PayPal transactions in QBO. Once connected, your PayPal items will appear on the Banking screen, from where you can handle them like online banking.

 

Here are some articles I've attached for your reference:

Please update me on how it goes, @Poonie. You have me here to answer your QuickBooks questions. Have a good one!

Experienced Member

Re: Changing the account on an existing transaction

I might be confused. Do you see PayPal listed under Banking? When I go into Banking I only see my Bank of America account. There is a drop-down arrow but BofA is still the only account I can select.

Experienced Member

Re: Changing the account on an existing transaction

I hadn't realized that PayPal can be added under Banking. My PayPal transactions have been importing already and I just assumed it could not be linked as well under Banking. So I just linked PayPal and I am waiting for transactions to start loading. That should hopefully allow me to manually change categories on sales receipts before they are added. Thanks,

Highlighted
Moderator

Re: Changing the account on an existing transaction

Hi there, @Poonie.

 

Thanks for getting back to us here in the Community. Allow me to chime in and share some additional information about the connect to PayPal app.

 

Yes, you're right! As my colleague mentioned above, once it's linked to QuickBooks Online (QBO), your PayPal transactions will automatically show in the For Review tab on the Banking page. This will also allow you to change the categories on the sales receipts before adding them to QBO.

 

Just in case, you can also check out this article for more information: Use the Connect to PayPal app.

 

This should answer your concern for today. Please let me know how it goes or if I can be of additional assistance. I'd be glad to answer if you have any follow-up questions. Have a great rest of the day!

Established Community Backer ***

Re: Changing the account on an existing transaction


@Poonie wrote:

I hadn't realized that PayPal can be added under Banking. My PayPal transactions have been importing already and I just assumed it could not be linked as well under Banking. So I just linked PayPal and I am waiting for transactions to start loading. That should hopefully allow me to manually change categories on sales receipts before they are added. Thanks,


How were they importing? Did you have the old app?

 

And there are no categories on sales receipts, just Items