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amalia4
Level 1

I set up a bank deposit for PayPal funds like I used to but with app transaction interface, I can't match. It includes multiple accounts.

I set up a bank deposit for PayPal funds like I used to when it was set up like a bank account feed but with app transaction interface, I can't match with my deposit. It's imperative that I be able to do this because there is a high level of detail in the lump sum that's in my PayPal deposit. Do I have to accept PayPal app transaction in some general catch-all account then match to a deposit when I transfer to my bank?

1 Comment 1
MirriamM
Moderator

I set up a bank deposit for PayPal funds like I used to but with app transaction interface, I can't match. It includes multiple accounts.

I’m here to help you navigate this issue and find a resolution, Amalia4.

 

If you've created a sales receipt manually in QuickBooks, ensure that you use the Undeposited Funds account for the account where the money will be deposited. This way, when you match the transaction, the feed will recreate the same deposit transaction. Additionally, when the feed matches PayPal items to QBO items, it will indicate this by showing the corresponding QBO income account.

 

I also recommend confirming that all individual transactions from your PayPal account are correctly recorded in QuickBooks. This includes ensuring that payments, refunds, and fees are properly categorized.

 

For more guidance on handling your PayPal transactions, you can visit this page: Connect to PayPal: A new way to bring PayPal transactions into QuickBooks.

 

For your future reference, you can refer to this article for best practices when reconciling your account: Reconcile an account in QuickBooks Online. This article also provides guidance on addressing challenges during the reconciliation process.

 

Additionally, we offer a QuickBooks Live Expert Assisted service that helps users with their downloaded transactions, online banking challenges, and various accounting tasks. Our experts provide insights on best bookkeeping practices and how to use QuickBooks effectively.

 

Whenever you need assistance in achieving your QuickBooks goals, please remember that I'm always here to guide you.

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