cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Frequent Explorer **

Paypal App and Credit/Charge card holds

My new QBO client uses Paypal to collect funds on credit card payments for online services he sells (high volume - thousands of transactions monthly). Paypal creates a Sale, then a conta "hold" in same amount, then another "sale" or credit when the funds are released a couple of days later.

 

Does the PayPal App "see" the net Sale for the Feed to QBO, or will it feed all 3 amounts?  If all 3, is it possible to set up a Bank Rule to separate this transaction into it's component parts for control to identify the specific un-cleared sales to measure at any month end or year end date.

Solved
Best answer 12-05-2018

Accepted Solutions
QuickBooks Team

Re: Paypal App and Credit/Charge card holds

Thanks for your prompt response @Chance.

 

Allow me to share some insights with this PayPal concern.

 

Yes, those three sale transactions are expected to show up on your feed. Also, about the PayPal on e-Invoices FAQ's that you've mentioned, this is only applicable to those PayPal users that were linked with E-Invoices in QuickBooks Online. You can also use this article out for your future reference.

 

I hope I've cleared things out @Chance. The Community has your back and is here should you have additional questions. 

 

 

6 Comments
QuickBooks Team

Re: Paypal App and Credit/Charge card holds

Hi there, @Chance.

 

Glad to have you here in the Community. Allow me to share some information about how PayPal works in QuickBooks Online. 

 

All your sale transactions from PayPal will reflect on QuickBooks Online. However, you can create a Bank Rule to separate your transactions into its components.

 

Here's how:

  1. Click on Banking on the left pane.
  2. Select Bank rule.
  3. Select New Rule to open the Rule window.
  4. Enter a name in the Rule name field.
  5. From the drop-down list in the For field, choose Money in or Money out.
  6. Select the bank or credit card account from the drop-down list in the In field.
  7. Set the rule conditions, specifying whether the transaction must meet All or Any of the conditions. 
  8. In the Conditions fields, specify whether the rule applies to Bank textDescription, or Amount, and identify the content the transaction ContainsDoesn't contain, or Is exactly for the rule to apply.
  9. Select the settings for the rule, specifying the Transaction typePayee, and the Category to apply.
  10. Select Save.

For more details about creating bank rules in QuickBooks Online, please refer to this article: How to set and use banking rules for downloaded transactions.

 

Also, you can check out this article to know more about credit card payments in QuickBooks: Accepting credit card payments.

 

This should help you control and identify your sales in QuickBooks. Let me know if you need further assistance. I'll make sure to get back to you. Have a wonderful day!

Frequent Explorer **

Re: Paypal App and Credit/Charge card holds

Thanks.

Any insights on first part of my Q ? Are all 3 transactions expected to feed?

Frequent Explorer **

Re: Paypal App and Credit/Charge card holds

FYI - In the PayPal FAQ's link given- it states you cannot use your own Paypal acct with QB (in other words without the substantial Intuit QB Payments charges) . This is inaccurate, as I currently use my own Paypal acct with the Bank Feed, and there are no QB Payments charges. I am using it ONLY to feed the transactions, and not to link up with any other QB function (such as Invoicing). 

 

This info needs to be corrected by Intuit.

QuickBooks Team

Re: Paypal App and Credit/Charge card holds

Thanks for your prompt response @Chance.

 

Allow me to share some insights with this PayPal concern.

 

Yes, those three sale transactions are expected to show up on your feed. Also, about the PayPal on e-Invoices FAQ's that you've mentioned, this is only applicable to those PayPal users that were linked with E-Invoices in QuickBooks Online. You can also use this article out for your future reference.

 

I hope I've cleared things out @Chance. The Community has your back and is here should you have additional questions. 

 

 

Frequent Explorer **

Re: Paypal App and Credit/Charge card holds

Wow! It WILL be a Merry Christmas for me!

 

Thanks!

QuickBooks Team

Re: Paypal App and Credit/Charge card holds

You are most welcome @Chance.

Don't hesitate to let us know if you have any questions with QuickBooks. We're always here to help you out. 

Wishing you and your business continued success. Have a lovely day!

Need to get in touch?

Contact us