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QCCS
December 6, 2024
Question

Paypal not updating correct. Spent and received funds are reversed

  • December 6, 2024
  • 1 reply
  • 0 views

Recently all of a sudden our quickbook  updates for our Pay pal account have been reversed.   When a customer pays an invoice the quickbook update shows the transaction as a spent and when we pay a bill it shows as a received.  Strange this started in The month of October and continues.  We have had no similar issues for the last two years.  No other bank accounts on our books have this issue just the pay pal sync

1 reply

F
FateCandylaneT
December 6, 2024

Managing the entries downloaded to your account ensures accurate recording of these funds, QCCS. Let me explain this further.

 

In QuickBooks Online, the program depends on the entries imported from your PayPal account. If these are credit card transactions, most information entered from PayPal is the opposite when synced to QBO. With that, one factor includes the incorrect account type used when recording.

 

To help rectify this error, you'll want to consider disconnecting your PayPal, then reconnecting it to the correct account type. You can also create a new account if necessary.

 

Additionally, if the same thing happens, you can upload a CSV file from your PayPal account to QBO or manually enter these entries in the program.

 

However, if the issue persists, it's best to contact your PayPal support team to verify and ensure these funds are properly mapped to QuickBooks.

 

Once everything looks good, you can utilize this guide to help you review and manage bank entries: Categorize online bank transactions in QuickBooks Online.

 

If any query arises, you're always welcome to leave them in the comments below. We'll be here, ready to help. Stay safe.

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