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finance139
Level 2

PayPal payables accounting - paying a bill

Quickbooks Online: We are a non-profit (church) using PayPal to receive donations and transfer the balance once a month to checking.  One or two times a month we also make a payment using PayPal, ALWAYS paying directly from the checking account, NEVER paying from the PayPal balance.  Here we have two scenarios:

(a) most often the payment is recorded simply as an Expenditure, so the checking account can be listed as the Payment account and PayPal can be listed as the Payment method, but then there is occasionally:

 

(b) a Bill is being created first. But then, under Pay bills, there is no distinction between Payment account and Payment method, there is only Bank/Credit account (which we list as our checking account), and at "Ref. No." we type in "PayPal."

 

Is (b) an OK way to handle the formally billed expense?

Solved
Best answer February 23, 2021

Best Answers
Kristine Mae
QuickBooks Team

PayPal payables accounting - paying a bill

Yes, Finance139. It's another way to handle a billed expense. I'll share a few details.

 

You can either add Paypal in the Ref no. field or Memo field. 

 

When you pull up a report, like Transaction List by Vendor, you can see Paypal in either the Num or Memo/Description field. It depends on where you enter the information. 

 

 

You can customize the report to help you focus on the details that matter to you.

 

If there's anything else that you need, you can always get back to this thread. We'll reply as soon we can. Keep safe!

View solution in original post

1 Comment 1
Kristine Mae
QuickBooks Team

PayPal payables accounting - paying a bill

Yes, Finance139. It's another way to handle a billed expense. I'll share a few details.

 

You can either add Paypal in the Ref no. field or Memo field. 

 

When you pull up a report, like Transaction List by Vendor, you can see Paypal in either the Num or Memo/Description field. It depends on where you enter the information. 

 

 

You can customize the report to help you focus on the details that matter to you.

 

If there's anything else that you need, you can always get back to this thread. We'll reply as soon we can. Keep safe!

View solution in original post

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