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Rafiq11
Sep 4, 2019 10:36 AM UTC
Question

Reconciling Bank and Paypal account transactions?

Hi,

I am working on QBO for the first time and I am trying to figure out how to reconcile my imported Bank transactions and Paypal transactions.

I don't take payment by Paypal but I added the account as I use it to pay for items such as Ebay purchases and hosting.

On the Paypal bank screen I have my purchases and 2 days later the payment is taken from my bank account.

What is the best course of action?  Add the invoice, then match to Paypal but this leaves the main bank transaction.

I have not started credit card yet but I assume that will be the same/similar method - I'll leave that for another day :)

Thank you.

4 replies

Rafiq11Author
Sep 4, 2019 11:47 AM UTC

I think I have figured it out but I would appreciate some confirmation.

 

I have matched the Paypal Bank payment to the supplier transaction payment.

 

Then from my main bank account page, I have created a transfer to Paypal for that transaction.

 

Is this correct?

GeorgiaC
Sep 4, 2019 12:50 PM UTC

Hi Rafiq,

 

The steps listed above are correct, however you do not need the PayPal account connected if all of the transactions are transferred between the paypal and bank account. 

 

 

Rafiq11Author
Sep 4, 2019 1:10 PM UTC

What would I do then?

 

Do I just match the Bank paypal transfer to an ebay purchase?

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