Sales receipts not matching correct income account

Mal47 · ‎March 13, 2020

Hello,

I recently took over a quickbooks online account that uses the Connect to Paypal app. I currently have ~4,000 paypal transactions "in review."

These transactions generate sales receipts that try to match to the correct income account, but generally have at least one inventory item that matches to "Paypal Sales" largely because the list of products was out of date and did not have the most current list of products. I imported a list of updated inventory products last night, but the "In Review" transactions are not updating to "match" the correct income account for the new products.

Is there a way to get quickbooks to automatically recognize the correct income account for these new products or do I need to manually edit the "details" for each transaction? Are there tricks to how to import the new file list to ensure it matches appropriately?

Appreciate any assistance.

Jovychris_A · ‎March 13, 2020

Hi @Mal47.

Let me welcome you to the Community.

Transactions from PayPal or any Financial Institution are categorized manually in the For Review tab. You have to edit the details of these transactions manually.

Importing file list tips to match it appropriately:

Please know that importing the file list can't be undone. You can only import 1,000 rows at a time.

Product/Service Name. 100 character limit. Avoid special characters. See the approved characters list for more info.
Quantity as-of Date. Formats like this: MM/DD/YYYY or DD/MM/YYYY
Income and Expense account. You can't use sub-accounts.

You can also download a sample file and import it on a test drive for testing. And follow the steps through this article: Import products and services from Excel.

Also, to make sure the transactions are matched correctly, I'll add these articles as your reference on how transactions are matched when using Sync with PayPal:

I'll be happy to help you further if you have more questions to add. I'll keep my notifications open. Take care!

Mal47 · ‎March 13, 2020

Thanks, @Jovychris_A . Really appreciate the help.

Let's consider one example where I have a paypal transaction where the customer purchased 5 separate items. 3 of the items had already been listed as Products in Quickbooks, but the other 2 are new products that had not yet been updated in quickbooks by the time the customer placed the order. On the Banking tab, when I hit "Details" I see that the 3 products have correctly mapped to the right product and are hitting the appropriate income account, but the other two that had no corresponding product in Quickbooks are listed as "Store Item: (DELETED)."

I downloaded the sample file you provided and updated it with the new products and imported that updated list. I was hoping this would then allow those "In Review" transactions to be updated so the sales receipt would now match the products that were listed as (DELETED) to the correct product, but those transactions still show as "Store Item: (DELETED)." If I manually edit the line item, I can select the correct product and get the correct income account, but I hoped this would update automatically when the product list was updated so that I could batch add transactions. Is it likely that my imported list was in the wrong format and that might be why this automatic matching is not updating? Is there something that needs to be done to make the new product apply to older items that were already "In review" prior to the product being added to Quickbooks?

Thanks again for all the help.

Adrian_A · ‎March 13, 2020

Thanks for getting back to us, Mal47.

As of now, there's no other option to affect the accounts before updating the list of products. However, if you can get the same copy of transactions from PayPal, we can exclude and delete the downloaded transactions. Then, we can re-import them again. This way, all the transactions will be automatically mapped to their accounts.

Here are the steps on how to exclude them:

Click the Banking tab.
Go to the For Review tab.
Click the batch icon beside the DATE column.
In the Batch actions drop-down, select Exclude Selected.
Go to the Excluded tab.
Select the transactions.
Click the Batch actions drop-down, and then select Delete.

In case you can't get a copy, we'll have to manually enter the transactions for the two products. You can do this by clicking the + New button. Then, select a transaction under the CUSTOMERS or VENDORS column.

When you're ready to reconcile the account, you can check this article for the steps on how to do it: Reconcile an account.

Don't hesitate to get in touch with me again if there's anything that I can help. Thanks for dropping by!

Mal47 · ‎May 21, 2020

Thank you again for all the assistance, it has been very helpful and I really appreciate it.

For some of the transactions I mentioned earlier in the thread, I clicked on "Details" and then manually selected (or added) the product when one wasn't found. What I didn't realize, however, was that when I made a manual change in "Details," it set the Sales Receipt date to the current date. Because there was a backlog, this means I have now set a 2020 sales receipt date for some transactions that actually occurred in 2019.

If I open these transactions, I can generally see that there was a linked transaction with a date in 2019 but the sales receipt is in 2020. I can then manually adjust the sales receipt date and hit save. I, unfortunately, made this mistake for a large amount of transactions. Is there any easier solution than going back through all the transactions and manually changing the sales receipt date?

Thanks again for all the help.

AlexV · ‎May 21, 2020

Good day, Mal47.

You'll want to manually edit the transactions to correct the dates. That's the best workaround since we're unable to edit them by batch.

Moving, I suggest checking the dates and other details when recording a transaction. This is to avoid any issue with your books.

I'll be here if you need anything else. Stay safe and healthy!

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Sales receipts not matching correct income account