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MattB3
April 21, 2020
Solved

PayPal help

  • April 21, 2020
  • 1 reply
  • 0 views

Hi all,

 

I'm new to QB so please forgive the basic question. My business is mainly online retail (especially at the moment). I make a lot of sales on eBay and receive payment into my PayPal account. I have set up my PayPal account as a 'Bank account' in QB.

 

My question is this; when I want to record sales, can I just add the payment received into the relevant sales account in 'Review transactions' or do I have to create a sales receipt first and match it? 

 

So far I've been doing the former but nothing shows up in my sales tab. It still recognises the sales as 'income'

 

Thanks 

Matt

Best answer by Ashleigh1

Hello MattB3, 

 

Welcome to the Community page, 

 

 

 Your best and quickest option is to add it as a sales receipt from the banking screen.

 

Otherwise, the other option is you would need to do a deposit as long as you have VAT set up if you don't have VAT set up then you would need to create a sales receipt first and then match it as a deposit as they only show up to be added from the banking screen.  

 

 

1 reply

A
Ashleigh1Answer
Level 14
April 21, 2020

Hello MattB3, 

 

Welcome to the Community page, 

 

 

 Your best and quickest option is to add it as a sales receipt from the banking screen.

 

Otherwise, the other option is you would need to do a deposit as long as you have VAT set up if you don't have VAT set up then you would need to create a sales receipt first and then match it as a deposit as they only show up to be added from the banking screen.  

 

 

    M
    MattB3Author
    April 21, 2020

    Thanks Ashleigh1,

     

    I will definitely use the first option then. Also whist I'm on the subject of PayPal, the transaction fees PayPal charge to receive payments are not showing up in QB and I'm having to manually add them in to reconcile the account

     

    Is there a way to get these to show up in QB to make my life easier?

     

    Thanks

    MaryLandT
    MaryLandT
    Level 10
    April 21, 2020

    Hi there, MattB3,

     

    Let me add up how PayPal fees are handled withing QuickBooks Online.

     

    For sales, fee amounts are obtained from PayPal and will be added when you match or add a transaction. They are not shown as separate transactions in the feed and will be recorded as an expense in your PayPal account.

     

    For one off fees or fees not associated with processing a transaction, these usually come across as a separate expense in your feed. That's why you have to manually add it. See the attached screenshot below for our visual guide.

     

    I've also added these articles to learn how QuickBooks manages your PayPal transactions:

    Let me know if you need additional information by commenting below. I'll be around to help you out.

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