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Frequent Explorer **

How to create a sales receipt when paid with Paypal and already downloaded through bank feeds

I have Quickbooks online setup to download from Paypal and my Checking Account.
A customer paid me already through Paypal. The following entries have been recorded from the downloaded feed:

Paypal payment recieved = recorded as Income
Paypal fee = recorded as merchant fee expense
Paypal balance transfer to checking = recorded as a transfer
Checking download of transfer = recorded as "match" (match the paypal transfer)

Now I want to create a sales receipt for my customer. I'm not sure how to since it's paypal, and was instantly received.

Keep in mind the transactions have already been entered into the books due to the bank feed download.

Solved
Best answer 03-28-2019

Accepted Solutions
QuickBooks Team

Re: How to create a sales receipt when paid with Paypal and already downloaded through bank feeds

You're absolutely correct, @DevgPhoto!

 

Let me join into this thread and help you create a sales receipt of your PayPal payment.

 

To start, it created a double entry transaction into your bank register since you've already added your PayPal payment to QuickBooks and then created a new sales receipt transaction.

 

Thus, you'll have to undo or remove your PayPal payment from the In QuickBooks tab. Then, create a new sales receipt transaction and then match it with your PayPal payment.

 

First, here's how you can remove your PayPal payment from the In QuickBooks tab:

  1. Go to Banking.
  2. From the Banks and Credit Cards drop-down menu, select your bank account.
  3. Under the In QuickBooks tab, find your PayPal payment transaction.
  4. Go to the ACTION column.
  5. Click Undo.

After that, create a sales receipt with the same date and amounts of the PayPal payment you received. Here's how:

  1. Go to the Plus icon.
  2. Under Your Customers, select Sales Receipt.
  3. Select a customer.
  4. Choose your bank account in the Deposit to drop down menu.
  5. Select a Sales Receipt date.
  6. Choose an item.
  7. Enter the amount the same as the date of your PayPal payment transaction.
  8. Click Save and close.

Now you can successfully match your PayPal payment and your sales receipt. Here's how;

  1. Go to the Banking page.
  2. From the Bank and Credit Cards drop-down menu, select your bank account.
  3. Under the For Review tab, fin and click your PayPal payment transaction.
  4. Select Find Match.
  5. Choose your recently created sales receipt.
  6. Click Save.

Once completed, I'm confident you'll be able to create a sales receipt for your PayPal payment transaction. without making a double entry transaction in your bank's register.

 

In addition, I've included a couple of screenshots below for your visual reference. Also an article as your guide on adding or finding a match of your downloaded banking transactions.

 

 

Fill me in if you have any other questions about sales receipt or online banking transactions. I'll be always around to lend a helping hand.

3 Comments
QuickBooks Team

Re: How to create a sales receipt when paid with Paypal and already downloaded through bank feeds

Thank you for the detailed information, DevgPhoto.

 

You can create a Sales Receipt for those transactions. Since you've already entered them to your QuickBooks account, you can now match the added transactions.

 

Here's how:

  1. Go to the Banking tab.
  2. On the For Review tab, look for the account.
  3. Select the Find Match button.
  4. Select all the boxes of the matching transactions, then verify if the total amount is the same as the downloaded transaction.
  5. Select Save.

The matched transactions will be moved to the In QuickBooks tab.

 

Don't hesitate to hit the Reply button if there's something you want to clarify.

Frequent Explorer **

Re: How to create a sales receipt when paid with Paypal and already downloaded through bank feeds

I do not think that will work. I already downloaded and entered the items from the bank download feed. Nothing is in "for review" and everything is already in "Reviewed".

 

When generating a sales receipt:

 

1) What do I enter for Payment Method and Deposit To? I created a new Payment Method named "Paypal" but I'm not sure of the Deposit To  (since this is a Paypal payment its not like undeposited funds that are waiting for me to go to the bank)

 

2) I've tried to select "Deposit To" = Paypal account, but then it creates a double entry in that account  (since it was already downloaded and entered via the bank feed download)

QuickBooks Team

Re: How to create a sales receipt when paid with Paypal and already downloaded through bank feeds

You're absolutely correct, @DevgPhoto!

 

Let me join into this thread and help you create a sales receipt of your PayPal payment.

 

To start, it created a double entry transaction into your bank register since you've already added your PayPal payment to QuickBooks and then created a new sales receipt transaction.

 

Thus, you'll have to undo or remove your PayPal payment from the In QuickBooks tab. Then, create a new sales receipt transaction and then match it with your PayPal payment.

 

First, here's how you can remove your PayPal payment from the In QuickBooks tab:

  1. Go to Banking.
  2. From the Banks and Credit Cards drop-down menu, select your bank account.
  3. Under the In QuickBooks tab, find your PayPal payment transaction.
  4. Go to the ACTION column.
  5. Click Undo.

After that, create a sales receipt with the same date and amounts of the PayPal payment you received. Here's how:

  1. Go to the Plus icon.
  2. Under Your Customers, select Sales Receipt.
  3. Select a customer.
  4. Choose your bank account in the Deposit to drop down menu.
  5. Select a Sales Receipt date.
  6. Choose an item.
  7. Enter the amount the same as the date of your PayPal payment transaction.
  8. Click Save and close.

Now you can successfully match your PayPal payment and your sales receipt. Here's how;

  1. Go to the Banking page.
  2. From the Bank and Credit Cards drop-down menu, select your bank account.
  3. Under the For Review tab, fin and click your PayPal payment transaction.
  4. Select Find Match.
  5. Choose your recently created sales receipt.
  6. Click Save.

Once completed, I'm confident you'll be able to create a sales receipt for your PayPal payment transaction. without making a double entry transaction in your bank's register.

 

In addition, I've included a couple of screenshots below for your visual reference. Also an article as your guide on adding or finding a match of your downloaded banking transactions.

 

 

Fill me in if you have any other questions about sales receipt or online banking transactions. I'll be always around to lend a helping hand.