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Intuit

Importing PayPal transactions into QuickBooks Online

Accept Card Payments with PayPal is an integration with PayPal that enables online invoice payments. 

 

How do I import PayPal transactions into Quickbooks Online?

Once you connect the new PayPal app you will need to enable the PayPal sync automation by going into the apps tab > Accept card payments with PayPal > Settings > General. Under the Accept Card Payments with PayPal tab please ensure you have selected “For all available PayPal income and expenses” to ensure the sync feature is turned on.

PayPal_App_Sync_Feature.png

All PayPal transactions will now flow into QuickBooks Online and this feature supports multi-currency transactions if you have the Essentials or Plus version of QuickBooks.

Already have the PayPal app automation functionality attached 

 

What is the difference between PayPal automation and connecting PayPal as a bank account?

Here is a table of the differences in the transaction detail of the PayPal app automation and bank connection.

PayPal Automation Bank Connection integration
Transactions Imported All types* All types
Payments E-invoicing solution N/A
Sales transactions Imported (detailed categorisation) Imported (only summary)
Transfers Not yet available (Coming Soon) Imported (detailed categorisation)
Expenses Imported (default categorisation) Imported (detailed categorisation)
User’s primary benefit Detailed sales transactions, helps with accounting, online invoice payments capability, multicurrency Categorised expenses and transfers
User’s primary limitation User has to manually categorise Supplier payments Users do not get detailed sales transactions

 

Note: The sync feature will automatically validate and stop the transaction sync if the same chart of accounts is used for both PayPal sync and bank feed.

How to reconcile your PayPal transactions?

When you connect your PayPal to online banking, QuickBooks automatically downloads your transactions and enters the opening balance for you. You don't need to worry about the opening balance for these types of accounts.

If you’re reconciling other types of accounts for the first time, review the opening balance. It needs to match the balance of your real-life bank account for whatever day you choose to start tracking the account in QuickBooks. Learn how to reconcile your accounts so they match to your PayPal statements.

How do I disconnect my Banking centre PayPal connection?

To disconnect your Banking centre connection to PayPal:

  1. Go to Banking, then choose the bank account that is linked to PayPal.
  2. Select Edit ✎ next to the bank account.
  3. Select the Disconnect this account on save checkbox.
  4. Select Save and close to disconnect the PayPal account linked as bank download.
  5. Your PayPal account linked as bank download is now disconnected.

What kind of transactions does this app import via integration?

PayPal imports your sales and expense transactions including your bank transfers (from/to PayPal).

What type of details does the PayPal automation app import for PayPal sales transactions?

When a sale is recorded in PayPal, it is synced over to QuickBooks Online as a sales receipt, with the detailed level information, like the item sold, the quantity, discount, shipping, tax, etc.

What type of details does this app import for PayPal expenses?

It imports all expenses into a default expense category known as “Uncategorised Expenses”. If you need to group your expenses with the same details, you can do it manually.

How often does QuickBooks Online sync with PayPal?

Once set up, QuickBooks syncs with PayPal every 15 minutes and brings any new transactions. You'll get a daily integration summary of these imports unless you choose to turn it off.

How do I get to review transactions after they import?

You should be able to review your transactions after they import by selecting the following tabs within QuickBooks Online:

  • Go to Sales, then All Sales for sales transactions.
  • Go to Expenses, then Expenses for expenses transactions.

Your PayPal transactions will be imported with “PayPal” as the payment method, PayPal as the source, and PayPal Bank (by default) as the account.

How can I manually import transactions after completing the setup?

To manually import transactions in bulk:

  1. Go to apps.com, then select My Apps.
  2. Select PayPal, then Settings.
  3. Select Manual Import.

I often create my PayPal accounts under a sub-account. How do I ensure my transactions map correctly?

The drop down menu in mappings settings does not show sub-accounts, though it will display them. You can select the sub-account as your QuickBooks mapping account. For example, if you created a sub account known as “My PayPal Sales” under “All sales” in QuickBooks, it will show up as the following:

  • Accounts
  • All Sales
  • My PayPal Sales

Now, if you would like to map your PayPal Sales to “My PayPal Sales” account in QuickBooks, you should select the following account:

  • Accounts
  • All Sales
  • My PayPal Sales

How do I know my PayPal transactions are importing into QuickBooks Online?

You'll receive a daily email with the transactions imported over 24 hours. You can also check QuickBooks if the transactions are imported in sales, banking, and expenses.

I received no notification regarding my PayPal transaction import. What is going on?

Here are several sample scenarios:

  • Scenario 1: You have unchecked the setting to receive daily import notification.
    What you should do:
    1. Go to apps.com, then select My Apps.
    2. Select Manage my apps, and PayPal.
    3. Select Settings, then App Settings.
    4. Select the Subscribe to transaction import summary and error notification checkbox.
  • Scenario 2: You didn't changed the default past transaction settings and there are no new transactions to import from PayPal.
  • Scenario 3: There is an Error in the transactions, you can check the Error Log.
  • Scenario 4: There are no new transactions in PayPal to import.

If your case doesn't fall in these scenarios, contact us for additional help.

What if there are no transactions available to import from PayPal?

If there are no transactions to import from PayPal, the integration will continue to sync for new transactions every 15 minutes, as per regular sync frequency. If there are no new transactions, you will not receive a daily import summary.

I forgot to import my past transactions during original setup. Can I still import those transactions?

To import the previous transaction:

  1. Go to apps.com, then select My Apps.
  2. Select Manage my apps, then PayPal.
  3. Select Settings.

If I manually (bulk) import transactions after having already imported transactions previously, will my import overwrite the previously imported transactions?

No, the bulk import dates will not overlap with each other. Unless you select the Overwrite previous transactions checkbox.

Why do I only see recent transactions imported into QuickBooks Online?

By default, Accept Card Payments with PayPal only import transactions that occurred after the app was connected. If you want to bring in historical Paypal transactions, here’s what you should do:

  1. Select the Apps tab, then select My Apps.
  2. Navigate to Accept Card Payments with PayPal, then select Launch.
  3. Select Import past transactions, then enter the date range you want to import.

Where can I view PayPal transaction import errors?

  1. Go to apps.com, then select My Apps.
  2. Select Manage my apps, then PayPal.
  3. Select Settings, and Import settings and logs.
  4. In Error logs window, select View.

How can I correct PayPal transaction errors?

  1. Go to apps.com, then select My Apps.
  2. Select Manage my apps, then PayPal.
  3. Select Settings, and Import settings and logs.
  4. In Error logs window, select View.
  5. Select Details to see the description of the error, then fix it.
  6. Select Retry after fixing the error.

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