Skip to main content
G
GolfNut72
December 11, 2024
Solved

PayPal Connector questions

  • December 11, 2024
  • 1 reply
  • 0 views

I have started using the PayPal Connector app, but I am trying to figure out how to accomplish some tasks.

 

1.) My client paid several of his vendors using PayPal this past month, and the transactions do appear in the PayPal Connection App, and I have coded them to the correct account.  However, on the Bank Account, there is a "payment" (transfer of funds) from the bank to Paypal.  But they are totaled into one payment, not the individual payments created on the PayPal transaction side.  I see the "select a transfer account" but how do I connect that to the "one" payment that is represented in the bank?

 

2.) One of the Vendors sent payment requests to my client's PayPal account, which my client canceled, and then paid him directly (not using the request).  They are in the PayPal app and are requesting a Deposit account.  Since this is not a deposit but was canceled, do I exclude it or is there a different to handle it?

 

Thanks

EJ

 

 

 

Best answer by JeveeAdvin__la

Hello @GolfNut72, great to connect with you! I'm here to help you efficiently manage your transactions so you can focus on your business.

 

You'll have to categorize or add the individual transactions on the PayPal side as transfers. Then, the single transaction in the bank can be matched with the individual transactions or transfers that you've added. 

 

Here’s a guide to help you categorize and match the transactions accurately in QuickBooks: 

 

  1. Go to the Transactions menu and select your bank account.
  2. Locate the total payment transaction.
  3. Click on it and choose "Find match".In the next window, you’ll see all uncategorized transactions.
  4. Select all the individual PayPal transactions that together equal the bank payment amount.
  5. After selecting the necessary transactions, confirm the match.

 

This action links the single bank payment to the multiple PayPal transactions, illustrating that the funds transferred to PayPal were utilized to pay several vendors. 

 

Yes, you can exclude the canceled payment requests that were paid directly instead of through PayPal. 

Take a look at this screenshot:

 

Additionally, you can manually enter the bill payment into the system. 

 

To record a bill from a supplier in QuickBooks, follow these steps: 

 

  1. Click + New.
  2. Select Bill.
  3. Choose a supplier from the Supplier dropdown.
  4. Select the payment terms from the Terms dropdown.
  5. Input the Bill date, Due date, and Bill no.
  6. In the Category details section, select the appropriate expense account from the Category dropdown and add a description.
  7. (Optional) For itemizing the bill, use the Item details section. Enable this by going to Settings ⚙, selecting Account and settings, then Expenses. Click the pencil icon and turn on Show Items table on expense and purchase forms.
  8. Enter the Amount and add any sales tax.
  9. If the expense is billable to a customer, check the Billable box and enter their name in the Customer field.
  10. Click Save and close when finished.

 

For your complete guide click this article: Match online bank transactions in QuickBooks Online. 

 

This article might be helpful when you reconcile an account in QuickBooks Online.

 

If you have any more questions about managing transactions in QuickBooks Online, please let us know. We're eager to hear from you.

1 reply

J
JeveeAdvin__laAnswer
December 11, 2024

Hello @GolfNut72, great to connect with you! I'm here to help you efficiently manage your transactions so you can focus on your business.

 

You'll have to categorize or add the individual transactions on the PayPal side as transfers. Then, the single transaction in the bank can be matched with the individual transactions or transfers that you've added. 

 

Here’s a guide to help you categorize and match the transactions accurately in QuickBooks: 

 

  1. Go to the Transactions menu and select your bank account.
  2. Locate the total payment transaction.
  3. Click on it and choose "Find match".In the next window, you’ll see all uncategorized transactions.
  4. Select all the individual PayPal transactions that together equal the bank payment amount.
  5. After selecting the necessary transactions, confirm the match.

 

This action links the single bank payment to the multiple PayPal transactions, illustrating that the funds transferred to PayPal were utilized to pay several vendors. 

 

Yes, you can exclude the canceled payment requests that were paid directly instead of through PayPal. 

Take a look at this screenshot:

 

Additionally, you can manually enter the bill payment into the system. 

 

To record a bill from a supplier in QuickBooks, follow these steps: 

 

  1. Click + New.
  2. Select Bill.
  3. Choose a supplier from the Supplier dropdown.
  4. Select the payment terms from the Terms dropdown.
  5. Input the Bill date, Due date, and Bill no.
  6. In the Category details section, select the appropriate expense account from the Category dropdown and add a description.
  7. (Optional) For itemizing the bill, use the Item details section. Enable this by going to Settings ⚙, selecting Account and settings, then Expenses. Click the pencil icon and turn on Show Items table on expense and purchase forms.
  8. Enter the Amount and add any sales tax.
  9. If the expense is billable to a customer, check the Billable box and enter their name in the Customer field.
  10. Click Save and close when finished.

 

For your complete guide click this article: Match online bank transactions in QuickBooks Online. 

 

This article might be helpful when you reconcile an account in QuickBooks Online.

 

If you have any more questions about managing transactions in QuickBooks Online, please let us know. We're eager to hear from you.

Terms & ConditionsAccessibility statement