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userbill
Level 4

Transfer Paypal Funds to Quickbooks Cash + Envelopes

Some of my clients pay me with Paypal. The money goes into my business paypal account. I need to get it to my primary business checking account, which is Quickbooks Cash + Envelopes. That's the problem.

 

When I try to add the routing and account numbers for the bank behind Quickbooks Cash + Envelopes (Gobank, a division of Green Dot Bank), Paypal says it can't link to that bank.

 

Support told me to do it through Quickbooks Online by adding the paypal account as a linked account. I did that, and it shows up under QBO Cash Flow page as a Linked Account. Sounds promising.

 

But I see no option to transfer from paypal to my quickbooks cash + envelopes account. If I use the hamburger (three dot) down menu next to quickbooks cash, and choose Transfer Money, the Paypal account doesn't show up, just my other linked accounts. I was told by support to set things up this way so it would work, and this is my first chance to try it as a client has paid with paypal.

 

Why doesn't paypal understand the GoBank as a bank, and why doesn't this work, and how can I get the money from paypal to my quickbooks cash bank account? Please don't recommend paper check, or instant transfer to my debit card, as that incurs yet more fees I don't want to pay.

3 Comments 3
MaryLandT
QuickBooks Team

Transfer Paypal Funds to Quickbooks Cash + Envelopes

I can help provide options for you to transfer those PayPal transactions QuickBooks Online (QBO), userbill.


Yes, it's correct that you need to connect your PayPal account to QBO. However, it needs to be categorized as a bank (PayPal Bank Feeds) so you can transfer PayPal transactions to your QuickBooks Cash account.

 

Other than that, you can use journal entries to move funds from one account to another. This way, you won't need to pay for other fees.

 

If not, I recommend getting back in touch with our QuickBooks Merchant Team. They can follow through the next step provided by the previous representative. 

 

Check out the Differences between Connect to PayPal app, Sync with PayPal app, and PayPal Bank Feeds to learn the 3 different ways to connect PayPal.

 

I've also added these articles to learn about using the Cash Flow feature in QuickBooks:

Stay in touch if you need additional information by commenting below. I'm always right here to help.

userbill
Level 4

Transfer Paypal Funds to Quickbooks Cash + Envelopes

It does say "PayPal Bank" under Linked Accounts in my Cash Flow page. I believe I did that correctly, but still doesn't show up under the Transfer Funds list of banks.

 

I don't think journal entries actually move any money physically between accounts, they're just accounting entries.

Jovychris_A
QuickBooks Team

Transfer Paypal Funds to Quickbooks Cash + Envelopes

Thanks for your prompt response, @userbill.

 

Let me share additional insights to resolve your concern. I'd suggest reaching the support to check if the bank account you use for the merchant is acceptable when transferring funds from PayPal to your QuickBooks Cash Envelopes account. From there, they can also investigate it further with their advanced tools.

 

You can follow through with the contact that you've made previously or contact them through this link: Contact Payment Support.

 

Additionally, you can check this article as your reference on how to see your QuickBooks Cash transfers: Use your QuickBooks Cash account. It includes steps on how to view your QuickBooks Cash monthly statements.

 

Please drop a comment below if you need further assistance after reaching them or share with us your experience. I'm ready to help anytime. Take care and more power to your business!

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