Learn how to switch from Sync with PayPal to the Connect to PayPal app.
Are you planning on switching from Sync with PayPay to the Connect to PayPal app? In this article, we'll help you get organized, set up and troubleshoot any issues that may arise.
- Review your PayPal transactions before they hit your books.
- View the gross and net for each sale. When the app syncs it will bring in both the income and associated fee. These will be linked together in a Deposit.
- For sales, you can record transactions as sales receipts or deposits.
- For expenses that aren't fees, you can take categorize each transaction to your preference.
Before you connect, there are a few things you need to do in QuickBooks.
- For Connect to PayPal to capture and record sales tax accurately, turn on Sales Tax in the company that you want to use.
- Important: Even if you don't charge sales tax to your customers, the Sales Tax Center or GST center needs to be turned on.
- To ensure proper inventory levels and accounting, Connect to PayPal app will identify the right products or services for sales based on the item name.
- To make this work, you need to set up your QuickBooks Items the way you have them in PayPal.
- If PayPal products or services aren't specified in your QuickBooks, Connect to PayPal will select the following default item: PayPal Sales.
Set-up and Troubleshooting
- Sign in to your QuickBooks Online account.
If you don't have an account: You'll be prompted to create one.
If you create a new account with PayPal: You'll need to navigate back to QuickBooks Online to restart the connection process.
- Select Banking.
- Select Add Account, then PayPal tile
- Select the Let's do it button.
- On the migration screen, select the existing PayPal account you want to migrate, then Give permission.
- Enter the email address associated with your PayPal account, then Next.
- Sign in to your PayPal account.
- To authorize the sync, select Agree and Connect.
- Once the connection is established, select Return to Intuit.
- Select PayPal Bank where you will find your PayPal transactions, then Next. Note: This is separate from your bank account and will be made for you upon set up.
- Select the Sales tax rate that will be applied to all imported Sales transactions, then Next.
- If you have historical transactions, select the starting date of the transactions that you want to import, then select Done. (You can import up to 18 months of historical transactions.)
- After the setup is complete, you will see PayPal connection on the Banking screen.
|Note: Migrating from the Sync with PayPal app will NOT remove any of the transactions that were imported during the app connection.|
When switching from Sync to PayPal app to Connect to PayPal app, be aware of when the recent transactions were imported. Use this as the start date for the new connection.
Things to know
- Recent transactions can be on the same day, or the day before, the switch took place.
- When days overlap, it could cause duplicates to be imported.
- Connect with PayPal knows which transactions have already been imported and won't re-import these.
If it’s only 1 or 2 transactions, it’s easier to enter these manually to your PayPal account register.
- Log in to your QuickBooks Online account.
- From the left menu, select Accounting and choose Chart of Accounts.
- Locate your PayPal account.
- Select View Register.
- Add new transactions on the top of the register.
From the Banking page, select the PayPal account. You can see matches of the duplicated data. Exclude duplicate transactions to ensure fees aren't duplicated.
To learn more about the new Connect to PayPal app, see Connect to PayPal Guide.