cancel
Showing results for 
Search instead for 
Did you mean: 
arianecap
Level 1

Paypal imports allow only reconcile for sales etc as defined in products. How can I make Paypal accounts access my chart of accounts like bank accounts instead?

 
5 Comments 5
AileneA
QuickBooks Team

Paypal imports allow only reconcile for sales etc as defined in products. How can I make Paypal accounts access my chart of accounts like bank accounts instead?

Hi there, @arianecap.  

 

Glad to see you here in the Community. We can connect PayPal through the Banking  page. This way, it will bring your PayPal transaction into QuickBooks. It will also retrieve any balance affecting transactions you have in PayPal and display them in your QuickBooks banking tab. You can then easily edit, categorize, and match transactions to ensure your books are accurate and up to date. 

 

Here's how connect an PayPal account that is not already connected to QBO:

 

  1. Log in to your QuickBooks Online account.
  2. From the left menu, select Banking.
  3. Select Add account on the upper right.
  4. Enter PayPal in the search bar.
  5. Click Let's do it.
  6. To authorize Intuit to pull data from your PayPal account, select Give permission.

 

paypal.PNG

 

paypal1.PNG

 

paypal2.PNG

 

paypal3.PNG

 

 Once done, you can check it on the Bank feed and verify if PayPal account is already added. 

 

paypal4.PNG

 

To learn more about how PayPal works in QuickBooks Online, you can refer to this article: Connect to PayPal FAQ

 

Let me know how everything goes by leaving a comment below or if there's anything else I can help you. I'm always around to help you out. Take care!

arianecap
Level 1

Paypal imports allow only reconcile for sales etc as defined in products. How can I make Paypal accounts access my chart of accounts like bank accounts instead?

Thanks so much for taking the time to post all this but it doesn't address my problem unless I am missing it. It is not easily categorizing, as a matter of fact - much unlike the bank accounts - Paypal refuses to show me my categories.

On Paypal, trying to add: shows me sales, deposits, and two other options as defined in Products tab. (see screenshot)

 

On bank accounts, trying to add: shows me the categories I defined (screenshot on bottom).

 

I do like it when the Paypal fees get separated out automatically, but I need to access my categories. And they need to be the same across all accounts, Paypal and cards.  How do I do that on PayPal?

 

And another question, when I - for the very first time - imported Paypal it automatically (and completely wrong, but I understand it learns) placed a bunch of lines into the Reviewed tab. I want to turn it off that it ever does anything automatically. I need to manually approve every line or approve a rule. Why did that happen and how can I make sure it doesn't do that again? 

 

I am still on the fence with QB... Xero was simpler and I am not an accountant. Had so many hiccups so far...  

 

Thanks again for your help.    

 

 

 

 

CharleneMaeF
QuickBooks Team

Paypal imports allow only reconcile for sales etc as defined in products. How can I make Paypal accounts access my chart of accounts like bank accounts instead?

Thanks for the detailed information, arianecap.

 

Allow me to clarify some things for you. Bank accounts and PayPal are similar when categorizing transactions. Thus, QuickBooks Online (QBO) categorizes what those sales were made in PayPal.

 

Also, regarding the automation in sending the transactions from the "For Review" section to the "Reviewed" tab, you'll have to check the banking rules. There may be created rules that cause to automatically categorize the transactions and add them.

 

Here's how: 

  1. Go to the Banking menu.
  2. Select Rules.
  3. Look for the rule and under the Actions column, click the down arrow beside Edit

 

After you remove bank rule, you can now assign and categorize the transactions.

 

In case you'll need to get your older transactions from your bank, you can upload them manually into QBO.

 

I'm just a post away if you have any other questions about banking. Have a good day!

arianecap
Level 1

Paypal imports allow only reconcile for sales etc as defined in products. How can I make Paypal accounts access my chart of accounts like bank accounts instead?

Thanks for answering, but there is absolutely nothing in my rules (see screenshot) that would:

A - prevent my Paypal income to be categorized for my categories as I showed in the first screenshot

B - explain why it automatically showed a whole bunch of transactions as reviewed

 

There is only one rule there and that rule is one I created after all this happened.

 

Again there are no rules active (see attached screenshot) and PayPal accounts only give me Products, not my categories. I looked at the links you sent but they do not address this problem because it simply looks different on my screen (see screenshot of my first post).

 

 

And here is a theory I have: I deleted (in a two-hour call with customer service) all that was there and started new. Is it possible that some old data popped up again in the reviewed tab?   

 

Lastly, it seems my dashboard looks different than my accountant's. You can see it on the screenshot. I don't have a banking TAB (it's under transactions).  

  

 

RenjolynC
QuickBooks Team

Paypal imports allow only reconcile for sales etc as defined in products. How can I make Paypal accounts access my chart of accounts like bank accounts instead?

Hi there, arianecap.

 

I'd like to share some details. With regard to the navigation menu, some customers have the Transactions tab instead of Banking. Our engineers are working on updating the interface on all of the QuickBooks Online companies. 

 

For the transactions in the For Review page, we use the details available from PayPal. Once your PayPal account is connected in QuickBooks, it downloads the transactions from the bank, so you can match it with the data recorded in QuickBooks Online. If you are not recording any sales in QuickBooks, then you'll need to add the transactions manually. 

 

If you're unable to see the Vendor/Customer or Category from the drop-down menu, you'll want to set them up. 

 

To add a customer or vendor, here's how:

 

  1. Go to Sales or Expenses.
  2. Select Customers or Vendors.
  3. Click the New Customer or New Vendor button.
  4. Add the information and click Save.

In adding the account category where you want to add the transactions, you can go to the Chart of Accounts.

 

Here are the steps:

 

  1. On the left panel, select Accounting > Chart of Accounts.
  2. Click on the New button.
  3. In the Account window, add the Account Type, Detail Type, Name and Description.
  4. Hit the Save and Close button.

Then, go back to the Transactions page, and check if you see the information from the Vendor/Customer or Category drop-down menu.

 

I'm also adding this article for reference: Assign, categorize, edit, and add your downloaded banking transactions.

 

As for the deleted transactions, there is a chance that it will be added again from the For Review by clicking the Update button or importing them from a CSV or WebConnect file.

 

I'm adding these articles for more details:

 

 

Please let me know in the comments if you have any additional questions or other concerns. Take care.

Need to get in touch?

Contact us