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1of1cardshop01
Level 1

How do I record a Paypal credit card (atm) withdrawal transfer to main business checking account?

 
2 Comments 2
Rustler
Level 15

How do I record a Paypal credit card (atm) withdrawal transfer to main business checking account?

You should have a bank account named for paypal where those sales are registered, as well as your main checking account

 

use the transfer function to move money from one account to another

or

use write checks, set the check number to EFT, do not print, and use the checking account as the expense (reason) for the check

Angelyn_T
QuickBooks Team

How do I record a Paypal credit card (atm) withdrawal transfer to main business checking account?

Welcome and thank you for posting here on the Community page, @1of1cardshop01.

 

Yes, Rustler is correct. You can create a bank transfer transaction to record the withdrawal transfer from your PayPal credit card to your main business checking account.

 

To elaborate this further, you can follow these steps:

 

  1. Select Transfer under Other from the Plus (+) icon.
  2. Click on the drop-down arrow under Transfer Funds From, choose your PayPal credit card account.
  3. From Transfer Funds To, pick your business checking account.
  4. Enter the amount and the date of the transaction. You can also add a memo to the Memo section.
  5. Tap on Save and close.

You can also read this article for additional reference about transferring funds in QuickBooks Online: Transfer funds between accounts.

 

Leave a comment below if you have any other questions. I'm always here to help. Have a good day!

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