Changing the account on an existing transaction

Hello there, @Poonie.

Thank you for visiting the Community space. I can provide you the solution about changing the posting account of your Paypal transactions to "Sales of Product Income".

The option to update the category of the transactions is only found in the For Review section. You'll have to undo all the Consulting Income classified transactions so you can change them to Sales of Product Income.

Here are the steps on how to mass undo transactions:

1. Click Banking. 
2. Go to the Reviewed tab and select the transactions.
3. Click Undo.

Under the For Review tab, you can already change the transaction's category:

1. Click the transaction and choose the Add radio-button.
2. For the Category field, choose Sales of Product Income.
3. Click Add.

That should change the transaction's account to Sales of Product Income, Poonie. For more information, you can open this link: Add and match downloaded banking transactions.

Keep me posted if there's anything else you need. I'm here to help you more about banking. Just add a comment below. Have a good one.

My PayPal transactions don't show up under Banking. They show as Sales Receipts and I don't see a way to change the account.

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@Poonie wrote:

My PayPal transactions don't show up under Banking. They show as Sales Receipts and I don't see a way to change the account.

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Go to the Item edit screen (Sales>Products/Services), and change the linked income account and check the box underneath to also change history.  Then for future transactions you may want to change the "Item" that is used in SRs. Not sure how to do that.  It's either on the Paypal website or most likely in the app settings.  Although if you change the linked income account you can continue to use the same item.  It is strange that it's called "Consulting" when you say it Sales of Product.  Is that the Item name?

What makes this a little challenging is that about 1/4 of the PayPal transactions are for "Consulting" while the rest are "Sales of Product Income". While it is convenient to have these transactions imported automatically, it obviously means some of them are in the wrong category.

For now I am changing the category associated with "PayPal Item" in my list of products and services so that all of them are initially categorized as "Sales of Product Income". That will result if the fewest revisions after import.

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@Poonie wrote:

What makes this a little challenging is that about 1/4 of the PayPal transactions are for "Consulting" while the rest are "Sales of Product Income".

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I have the same problem with 2 kinds of income coming in from Paypal.

There is a new feature in the Paypal feed in Banking. You can click on the "Details" link to go into the SR and change the Item, and then "Add" from there. Before you had to first Add and then go and find the SR and edit it.  It's a bit of a time saver

It would be great if you could have different Items which are assigned based on a Rule, but I can't see how to do that

I might be confused. Do you see PayPal listed under Banking? When I go into Banking I only see my Bank of America account. There is a drop-down arrow but BofA is still the only account I can select.

I hadn't realized that PayPal can be added under Banking. My PayPal transactions have been importing already and I just assumed it could not be linked as well under Banking. So I just linked PayPal and I am waiting for transactions to start loading. That should hopefully allow me to manually change categories on sales receipts before they are added. Thanks,

Hi there, @Poonie.

Thanks for getting back to us here in the Community. Allow me to chime in and share some additional information about the connect to PayPal app.

Yes, you're right! As my colleague mentioned above, once it's linked to QuickBooks Online (QBO), your PayPal transactions will automatically show in the For Review tab on the Banking page. This will also allow you to change the categories on the sales receipts before adding them to QBO.

Just in case, you can also check out this article for more information: Use the Connect to PayPal app.

This should answer your concern for today. Please let me know how it goes or if I can be of additional assistance. I'd be glad to answer if you have any follow-up questions. Have a great rest of the day!

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@Poonie wrote:

I hadn't realized that PayPal can be added under Banking. My PayPal transactions have been importing already and I just assumed it could not be linked as well under Banking. So I just linked PayPal and I am waiting for transactions to start loading. That should hopefully allow me to manually change categories on sales receipts before they are added. Thanks,

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How were they importing? Did you have the old app?

And there are no categories on sales receipts, just Items

It's January of 2021, and I'm wondering if the issue that Poonie originally brought up in 2019--that in setting up PayPal, you can only use ONE "Sales" account under "Sales Form Content"--has ever been fixed/addressed by QB, or by the folks who created Connect to PayPal?

Our organization is receiving payments through PayPal for the same item (a membership fee), and hoped that we could use the "Rules" to have QB automatically switch them from "PayPal Sales" to "Membership fees" in the "Product/Services" line of the receipt we receive from PayPal. But we're not having much luck. And we can't just change the "Sales" account on the "Sales Form Content" page to "membership fees", because later in the year, we'll be getting income for other items.

It is more than onerous to have to go in and change each sales receipt from "PayPal Sales" to the particular item we are getting paid for. If anyone has discovered a better workaround that will allow this to happen automatically, I'd love to hear about it...

I've tried to get a hold of PayPal support via the online chat, and the call me back request, but have had no luck reaching an actual person :-(

Thank you.

Thank you for joining the thread, @NERW Treasurer.

I can share with you some additional troubleshooting steps to fix the accounts link to your PayPal sales.

To get started, I recommend fixing the mapping of your income accounts. You can do this through App Center or the QuickBooks Online App menu.

Here's how to change the mapping settings from the App Center.

1. Log in to Intuit App Center.
2. Select the My Apps tab.
3. Locate the Sync PayPal app card. Then select Settings.

To change the settings from QuickBooks Online:

1. From the left menu select Apps.
2. Select Firm apps.
3. Choose Settings from the Action drop-down.
4. Select Edit in the App Settings section.

All transactions imported after the update will be added to QuickBooks using the new mapping. And old transactions will continue to remain in their appropriate accounts as per the previous mapping. To correct them, you need to follow the suggested steps above to update the income account on each item used on your sales receipts.
 

For your guide, I recommend checking out this link: Change the account for a product/service item.

Also, here are some of our help articles you can open to know more about managing PayPal transactions:

• Differences between Connect to PayPal app, Sync with PayPal app, and PayPal Bank Feeds
• Connect to PayPal FAQ
• Switching from Sync with PayPal to Connect to PayPal

If you have any other questions about your sales transactions, please let me know by adding a comment below. I'm more than happy to lend a helping hand. Keep safe!

@ NERW Treasurer 

Explore this connector to reconcile your PayPal transactions into your QBO account.

https:// synder.grsm.io/quickbooks

Thanks, Angelyn_T, for your response.

I'm afraid I'm having difficulty following your advice. The problem isn't that the product/services aren't mapped to the correct account; it's that people often send us money via PayPal directly, rather than in response to an invoice we send, and that such a payment doesn't tell PayPal, or QB, what item/service they are paying us for. So we then have to figure it out on our end and change the sales receipt to the correct product/service. We were hoping that there would be a quick way to do this, via a rule, rather than to have to go in and change each sales receipt individually.

FYI, we used to use the Sync PayPal app, but had many difficulties with it. So we switched to using PayPal Connect. I tried to follow you instructions for changing settings through Quickbooks, but I don't see any "Firm apps" button or option.

FYI, I am using Quickbooks Online for Mac.

Any additional suggestions?

Thank you

NERW Treasurer

Hi, @NERW Treasurer.

I appreciate you for following up with me and thank you for sharing additional details about your concern. It's my pleasure to help you again with your PayPal transactions.

With QuickBooks Online (QBO) for Mac, you can see the Firm apps after clicking the Apps menu at the left pane. If you don't have this option, you can try to modify the settings through the apps.intuit.com. For your guide, I recommend checking out this link: Modify settings for Sync with PayPal.

With your invoices, it would be best if your customers' can pay them accordingly. This way, you don't need to modify the accounts or items manually.

I can see how seamless it would be to create a rule for your transactions. For now, I recommend checking out the banking rules offered by QBO to categorize transactions from your bank. Here's the link: Setup bank rules to categorize online banking transactions in QuickBooks Online.

You can also open this article to learn more about the Connect to PayPal app.

Please let me know else I can help you with your PayPal sales. I'm always here to help. Wishing you a good one!