When I download PayPal transactions into the Banking area for review it creates a sales receipt for the sales income and a separate sales receipt for the PayPal Fees. Is there a way to have it combine into one? It also downloads into undeposited funds. Is there a way to have it be a direct deposit? Thanks, Paulette
Welcome and thank you for posting here in the Community. Allow me to share some information about downloading PayPal transactions into QuickBooks Online (QBO).
Once you're downloaded a PayPal transactions in the banking area, it would really create a separate transaction for sales income and a separate transaction for the Paypal Fees. Sales income is an income account and PayPal Fee is an expense account reason that they'll not be combined.
For the transaction to be deposited directly to a specific bank account, you'll need to ensure you've select a specific bank account for the deposit.
"For the transaction to be deposited directly to a specific bank account, you'll need to ensure you've select a specific bank account for the deposit."
How. All the funds are still showing into Undeposited funds. The only work around I've been able to find is going in and deleting every deposit associated with the account and then manually opening each sales receipt and changing it from 'undeposited funds' to 'Paypal'.
I have looked through all of the documentation and cannot find a way to bypass the undeposited funds account. Dropping all these transactions into undeposited funds is really messing with my ability to reconcile and actually track what is actually in undeposited funds.
Thanks for joining us here in the Community, @kleinhk.
The Undeposited Funds account in QuickBooks Online serves as the holding account of all the transactions that aren't deposited yet.
To have your transactions deposited directly into the right account, make sure that the mapping of the entries from PayPal is correct.
In doing so, let's change the mapping setting from the App Center and with your QuickBooks. This way, all transactions imported after the mapping settings changes will be imported using the new mapping.
Here's how to change the mapping settings from the App Center.