PayPal pulling USD transactions into GBP account

Django Girls · ‎February 16, 2021

I'm managing the accounts for a global charity, and we recently setup Quickbooks to manage this. I originally had three PayPal accounts, one for GBP, one for Euro and one for USD. We don't have a lot of incoming/outgoing funds so I only login to update things every few months.

Today I saw that my bank connections needed updating. My current account (CashPlus) updated fine, but when updating the PayPal GBP account it failed. I followed the troubleshooting guide to unlink and relink this account and it reconnected, however, it's now pulling all my PayPal transactions into the GBP account, including those coming in via USD.

When reconnecting I selected the GBP account as this is the only one available, so I can't understand why it's pulling through non GBP transactions. It is converting them (so $5000 has come in as £4879.70) but I'm confused as to why these are being pulled in at all?

JonpriL · ‎December 27, 2022

Hi there, @MarianneStreather.

I'll share insights about your banking account in QuickBooks Online so you get your latest transactions.

As of the moment, there isn't an integrated way to download other currencies for your PayPal transactions. Transactions downloaded from this app are based on the home currency used when enrolled.

In this case, I'm assuming you're using the Pound £ as the default PayPal currency so your feeds downloaded transactions in this currency. For now, we can create and upload a CSV file of feeds with other currencies.

While the option is not yet available, I recommend letting our product developers know about this by sending a request via feedback. I'll show you how.

Go to the Gear icon.
Under Profile, select Feedback.
Describe how an option to display the correct currency of your transaction helps your business work efficiently in QuickBooks.
Select Next.
Click Skip and send message.

I'm including our Customer Feedback for QuickBooks Online page to track the status of your request and get the latest updates from our developer team. Updates such as how the recent enhancement made to QBO helps our small business owners, like you.

It'll always be my pleasure to help if you've got other questions aside from managing PayPal accounts in QuickBooks. Use the Reply button and leave your comment below so that I can assist you further. Take care always!

View solution in original post

Ashleigh1 · ‎February 16, 2021

Hello Django Girls,

Welcome to the Community page,

Are you sure you have not had these transactions come through on your GBP account?

If yes then you would need to disconnect and then attempt to reconnect in google chrome incognito/private window- if this still fails excluding all the USD transactions so they don't show in the GPD account.

In regards to why it has done this, we would suggest you double check with PayPal as they are the ones sending us the transactions.

Django Girls · ‎February 18, 2021

Thanks,

I have no idea, to be honest, I thought using accountancy software was supposed to make things easier, not make me have to manually check all the transactions to see where they have ended up...

I've gone back and deleted all the transactions pulled in automatically and removed the link, I'll update by uploading spreadsheets in the future so I know everything is pulled in correctly. Not ideal but at least I'm not confused and risking having my accounts all messed up!

MarianneStreather · ‎December 27, 2022

Hello,

Is there no way of having a mix of currencies in the PayPal transactions window? Quickbooks id pulling in the transactions that are in Euros and displaying them as the Euros amount but in GBP? I have both GBP and Euros in the PayPal account as we have transactions with a European Company.

JonpriL · ‎December 27, 2022

Hi there, @MarianneStreather.

I'll share insights about your banking account in QuickBooks Online so you get your latest transactions.

As of the moment, there isn't an integrated way to download other currencies for your PayPal transactions. Transactions downloaded from this app are based on the home currency used when enrolled.

In this case, I'm assuming you're using the Pound £ as the default PayPal currency so your feeds downloaded transactions in this currency. For now, we can create and upload a CSV file of feeds with other currencies.

While the option is not yet available, I recommend letting our product developers know about this by sending a request via feedback. I'll show you how.

Go to the Gear icon.
Under Profile, select Feedback.
Describe how an option to display the correct currency of your transaction helps your business work efficiently in QuickBooks.
Select Next.
Click Skip and send message.

I'm including our Customer Feedback for QuickBooks Online page to track the status of your request and get the latest updates from our developer team. Updates such as how the recent enhancement made to QBO helps our small business owners, like you.

It'll always be my pleasure to help if you've got other questions aside from managing PayPal accounts in QuickBooks. Use the Reply button and leave your comment below so that I can assist you further. Take care always!

Fiat Lux - ASIA · ‎December 28, 2022

@MarianneStreather

You need to have a 3rd party app to reconcile Paypal in multi currency transactions into QBO.

MarianneStreather · ‎December 28, 2022

@Fiat Lux - ASIA You are kidding? What app is this please? I'm beginning to wonder how useful QuickBooks is to me over a spreadsheet right now with this hassle and our business bank account not being on the list that syncs with QB, sigh.

MarianneStreather · ‎December 28, 2022

@JonpriL As I have automatically pulled in transactions and categorised a large number already, am I going to have to start all over again? I have 1200 transactions, 250 of which in Euros and the rest in GBP.

Fiat Lux - ASIA · ‎December 28, 2022

Explore this app. You can also import and reconcile past transactions if required.

https://partnerstack.synder.com/quickbooks

As an additional option, utilize this backup restore app before connecting both apps.

https://partnerwithus.rewind.com/quickbooks

MarianneStreather · ‎December 28, 2022

@Fiat Lux - ASIAis Synder a standalone piece of software that can be used instead of Quickbooks or is it an app that Quickbooks uses? And what are the payment fees please?

Fiat Lux - ASIA · ‎December 28, 2022

@MarianneStreather

It is a connector app for reconciling Paypal transactions to QBO as I mentioned earlier. Otherwise, you should explore switching to another accounting app to integrate with Paypal natively. You may need to purchase a third party service to convert your data from QBO.

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PayPal pulling USD transactions into GBP account