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criesner
April 19, 2025
Question

paypal/shopify sales receipt not matching bank transfer

  • April 19, 2025
  • 1 reply
  • 0 views

So in the PayPal tab theres a bunch of sales receipts which is when the customer uses PayPal to buy a product on my shopify site.

When I select all of those which are ‘received’ it totals $XX

However when I go to the chase bank tab and select all the money received (which should be bundled payments) from PayPal it’s only $ZZ. The money regularly gets transferred to the bank account (bundled not individually) so I’m not sure how this doesn’t match.

 

My initial thought was to exclude all the PayPal tab money received sales receipt and only record it in coming in the chase bank tab but its not matching up.

1 reply

Bryan_M
Bryan_M
April 19, 2025

Thanks for bringing this to our attention, @criesner. I'll share some information that can help you achieve your goal. 

 

If the Sales receipt is set to automatically match, it will automatically link with the deposit transactions that have the same dates and amounts, which could be why you can’t see them.

 

However, if this isn't the case, you can refer to the reasons below to see why they're not matching:

 

 

Additionally, you can visit this article to match transactions in QBO manually: Use the find match tool to manually match transactions in QuickBooks.

 

Once resolved, you can now begin to reconcile your all transactions.

 

Moreover, for thorough guidance and managing your app and bank transactions in QuickBooks, you can reach the QuickBooks Live Expert Assisted.

 

Never hesitate to return here if you have additional questions about matching sales receipts and deposit transactions. We'll be willing to assist you. Have a good day.

C
criesnerAuthor
April 20, 2025

the problem is the money comes in as lets say $10 but then once a month it bulk transfers from paypal to bank account so lets say $100. when i add up all the $10 from paypal in quickbooks that total doesnt match the $100 transfer in quickbooks bank

Clark_B
Clark_B
April 20, 2025

The discrepancy between your added PayPal Sales Receipts and your downloaded bank transactions is due to the Sales Receipts already accounted for the PayPal fees, @criesner. Let's delve deeper into why your total doesn't line up with the $100 transfer.

 

First, could you clarify whether you are using the older version connected to PayPal or the newer PayPal Connector? It's important to note that the discrepancy in totals is due to the PayPal fees being included. These fees are added to the batch deposit, and you won't see the fees separately in the transaction list. 

 

 

Additionally, these fees will be categorized into a PayPal Fees account. Therefore, when you total the Sales Receipts, you're seeing only the gross amount because the fees have already been included in the compound deposit/batch deposit under the Add funds to this deposit section.

 

Moreover, I recommend checking whether the deposit along with the PayPal fees, is recorded. If not, you'll have to download your PayPal bank statement and create a Bank Deposit record. Then, scroll down to the Add funds to this deposit section, enter the fees as a negative amount, and select the expense account dedicated to tracking PayPal fees. Once done, you can match the created bank deposit to your downloaded transactions.

 

For visual reference:  

 

 

After everything looks good, check this article to help you reconcile your accounts so they always match your bank and credit card statements: Reconcile an account in QBO.

 

Stay in touch if there's anything else I can help you with matching your bank transfers. I'll be right here to provide the information that you need.

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