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seandfargo
January 16, 2020
Question

Tracking PayPal Income That's Spent Before Being Deposited Into Bank

  • January 16, 2020
  • 1 reply
  • 0 views

I use PayPal to accept and spend money for my online business. I transfer most of my PayPal income to my bank account, but some of it is used to pay for business expenses.

 

PayPal "payments sent" includes PayPal funds and also bank account funds. See attached.

 

In QB, how do I account for the PayPal income that was spent via PayPal?

 

 

1 reply

Rose-A
Rose-A
January 16, 2020

Hi, seandfargo.

 

You can use the Transfer Funds feature in QuickBooks Online if these transactions are already deposited to your checking account.

 

 

However, if  these income transactions are not yet deposited to your account, you can create an expense transaction and use the PayPal account.

 

 

You can get more details in the following resources below:

 

Let me know how this goes by leaving a comment below. I want to make sure this is resolved, and I'll be here if you need a hand. Have a lovely day!

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