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A
arturoduncan1
November 15, 2022
Question

PayPal imported transactions using PayPal Connect stopped categorizing correctly after enabling multicurrency. Is there a way to fix this?

  • November 15, 2022
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

J
JamesAndrewM
November 15, 2022

Hello there, @arturo11.

 

Paypal uses the details available to decide what category to assign to each transaction. With Connect to PayPal, you can categorize and match PayPal transactions the same way as other bank transactions. However, at this time, Connect to Paypal does not support multi-currency (currency conversion) transactions and reconciliation. 

 

You can consider categorizing the transactions manually. I'd be glad to input the steps below so that you can proceed. Here's how:

 

1. Go to Transactions, then For review.

2. Select a transaction to see details.

3. Choose a category that describes the transactions

4. Fill in the details, click Confirm

 

If you need a new category, select Add new under the Category drop-down menu.

 

You may visit this article as your reference when you reconcile an account to ensure your accounts in QBO are balanced: Reconcile an account in QuickBooks Online.

 

If you have any further concerns about categorizing your transactions, don't hesitate to post them here. Have a great day!

A
arturoduncan1Author
November 15, 2022

Thanks for getting back to me.  I was with QB support and they confirmed that there was a bug and that explained why the imported transactions were not matched and that there was no easy workaround.  It appears that when you enable multicurrency this feature stops working.  So my only options are to handle PayPal Transactions outside of QB or to create a new QB account where I do not enable multicurrency, then migrate the date to the new account.  All very bad options.  I will continue to study this to see if I can figure out a better way of working around the issue.

Fiat Lux - ASIA
Fiat Lux - ASIA
November 16, 2022

@arturoduncan1 

You need to have a 3rd party connector to reconcile Paypal in multicurrency transactions to QBO.

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