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kateseren
February 2, 2022
Question

I don't understand how to categorize and record transactions in my PayPal account.

  • February 2, 2022
  • 1 reply
  • 0 views
My PayPal account is linked to both my Amex and my Checking account. I'm confused about how to transfer and link transactions together across these accounts. I'm just getting started and looking for help on how to get my head around this. Help. Any resources for learning how money moves between accounts?

1 reply

L
LeizylM
February 2, 2022

Good to see you here, kateseren.

 

Allow me to share insight regarding your concern in QuickBooks Online.

 

The Connect to PayPal app lets you handle your PayPal transactions the same way as other bank transactions. Once connected, you may simply update, categorize, and match transactions in QuickBooks.

 

When you move money from one account to another, you will need to record the transaction as a transfer in QuickBooks.

 

You can also check the Connect to PayPal FAQ for answers to questions like how to change your PayPal settings and how are fees handled in QuickBooks.

 

I've also added this article why do you need to use a clearing account in your accounting systems: Why use clearing accounts in your accounting system for PayPal, credit cards, and other payment channels?

 

Keep me posted if you need clarifications. I'll look forward to your response. Have a nice day ahead.

 

 

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