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Thanks for visiting us again here in the Community, Block-Five.
At this time, the Connect to PayPal app doesn't support multi-currency (currency conversion) transactions and reconciliation. But I've got a workaround for you that you may consider.
You can import your PayPal transactions into your QuickBooks Online account. You'll need first to make sure that Multi-currency feature is turned on.
Once verified, you're now ready to upload PayPal transactions. Make sure to have your CSV file ready. For your guidance in uploading your data, here's an article with the detailed step by step process: Manually upload transactions into QuickBooks Online.
For additional reference, I'm attaching a great resource that will help you in the future: Download, match, and categorize your bank transactions in QuickBooks Online.
If you have any questions between now and then, let me know. I'm here for you. Have a great day!
Thanks for your reply.
The problem with that is I would need to export and import every hours to keep things updated and for our employees to see if a customer has paid yet.
And I do not fully understand, because my PayPal is in Thai Baht, and my QuickBooks Online is in Thai Baht. Or am I missing something here?
You’re welcome, @Block-Five.
Also, thank you for letting us know that you’re using QuickBooks Online (Thailand).
The Multicurrency feature lets you track transactions in foreign currencies. This works best when you’re trying to connect a foreign bank to your QBO account.
I know this will take your time in downloading the transactions from your PayPal account and then importing to your QBO account. For now, I suggest sending us request support for PayPal Thailand:
For detailed guidance, check this article: Identify the correct bank.
Let me know if there’s anything else that I can help with your transactions. I’m always glad to help in any way I can. Have a wonderful day!
Explore this payment gateway applicable in Thailand as workaround to connect with Paypal and your ecommerce platform + QBO.
https://www.2checkout.com/referral?r=3f97f16f5e
Hope it helps.
@MJoy_D That doesn't make much sense. My Bank has already been setup without problems. The problem here is setting up PayPal.
@Fiat Lux - ASIA Okay, so with this method I would:
Connect my website with 2Checkout - send payments
Connect PayPal with 2Checkout - receive payments
Connect QBO with 2Checkout - read the payments
So 2Checkout would act as a 'middle-man' for PayPal & QBO.
Am I understanding this correctly?
Also, would this mean I would receive a 2Checkout fee on top of a PayPal fee?
Thanks for getting back to us, @Block-Five.
Connecting PayPal is currently available in our US and UK versions only. You can send a request to add your financial institution to the list of supported banks in QBO Thailand.
Here's how:
Check out the article provided by MaryJoyD for the details.
In the meantime, I recommend utilizing the solution provided by my colleague MirriamM as a temporary workaround.
Know that you can count on me, so leave a comment for additional questions or any clarifications. I'm here to keep helping. Have a good one!
@Block-Five wrote:@Fiat Lux - ASIA Okay, so with this method I would:
Connect my website with 2Checkout - send payments
Connect PayPal with 2Checkout - receive payments
Connect QBO with 2Checkout - read the payments
So 2Checkout would act as a 'middle-man' for PayPal & QBO.
Am I understanding this correctly?
If you want to deploy 2CO, you have to make your ecommerce system as central node. So the connection will be like this:
Payment options (e.g Paypal, Amex, bank transfer, JHB, Mastercard, Visa, Neteller, Skrill) > 2CO > e-commerce system > QBO.
If your current e-commerce system does not sync to QBO, you may migrate the data by importer tool.
https://transactionpro.grsm.io/qbo
https://partners.saasant.com/affiliate/idevaffiliate.php?id=5051_2
If your company is selling physicall goods, consider also an inventory management to integrate it between e-commerce and QBO. The coonection will be like this:
Payment options (e.g Paypal, Amex, bank transfer, JHB, Mastercard, Visa, Neteller, Skrill) > 2CO > e-commerce system > inventory management > QBO.
just my 2 cents
@Block-Five wrote:Also, would this mean I would receive a 2Checkout fee on top of a PayPal fee?
2CO will charge their fee on each successful transaction and put the money on your escrow account. You don't need to calculate any transaction fee with other provider. You only need to calculate any applicabe fee with available payout option (e.g wire transfer, ACH, Paypal, Payoneer) once you are ready to withdraw the fund
Anyway, if you also deal with many multi-currency transactions, better to consider this service to minimize your financial cost to accept payment in THB.
Just my 2 cents
@KhimG Okay this explains a little clearer. But as a workaround with 2Checkout, would I receive a 2Checkout fee on top of a PayPal fee?
Thanks for the quick response, @Block-Five.
As mentioned by Fiat Lux - ASIA, only those with payout options may apply fees. For questions specific to 2Checkout, I recommend calling their support for clarifications.
If you need any other help related to QBO, let me know by leaving a comment. I'm here for you. Take care!
Hi thanks for the advice but that doesn't really help.
Although our company is based in Thailand, it is a UK directed company, and most of our customers tend to be foreigners living within Thailand who do like to use PayPal or PayPal credit as a checkout option.
Allow me to share additional insights, @Block-Five.
PayPal is only supported by the US and UK versions of QuickBooks Online (QBO). Though you're a UK directed company, you won't be able to add the account since your subscription is Global.
At this time, I recommend following the suggested steps provided by Fiat Lux - ASIA above.
I'll take note of this and ensure to send feedback to our engineers. This way, they'll be able to know and may consider this feature on the future updates. To stay current on the latest QuickBooks news and updates, you can visit our blog.
Also, for more insights about connecting a bank account to QBO as well as connecting to PayPal app, you can check these articles:
Click the Reply button if you have any other QuickBooks questions as I'm always here to help however I can. Have a great day!
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