Thanks for checking in with us and providing us in-depth details of your bank feeds concern, gnocchi.
QuickBooks Desktop is only dependent on the transactions that were transmitted from your financial institution. The deposit will appear in the account you transferred it to from PayPal, for example in the checking account received column in the Bank Feeds Center. When looking at the deposit, both the sale and fee are automatically taken care of for you.
Since you'll see every deposit that PayPal makes into your bank, you'll have two sales coming into the bank feeds and one will need to be “transferred” from PayPal to the checking account so that it does not duplicate income. You can also create rules to categorize transactions for things you frequently spend money on.
Here's how:
- Go to the Banking menu.
- Choose Bank Feeds and then Bank Feeds Center.
- Select Rules, then click the Manage Rules dropdown menu.
- Click Add New.
- Add a Rule Name.
- From the Description drop-down, make a selection, then type a word or phrase you want to use as the condition for the rule. If you need to create more conditions, select + button.
- In the Do This section, make a selection, then select a payee.
- Hit Save after.
From the rules page, you can also search rules based on the name, rule condition, description, payee, class, and account. For more details about adding bank rules, see the Use renaming rules for Bank Feeds article.
Feel free to visit our Banking page for more insights about managing your Bank Feeds transactions.
I'm just one post away if you need a hand with reconciling your bank accounts or any QuickBooks related. I'll be here to ensure your success. You have a good one.
