Accept debit card, credit card, and bank transfer payments for QuickBooks invoices Easily. Boost your cash flow with QuickBooks PayPal integration Now!
PayPal is a well-known payment gateway application. It is being used widely to send or receive money globally from your clients, customers, family members, and merchants. For those who operate their business overseas, PayPal can be very important to them.
On the other hand, QuickBooks is a smart platform to manage your accounting services. QuickBooks is available in the form of an online version of a software application.
With PayPal and QuickBooks Online integration, you can make your business payment activities convenient and flexible. This makes it easy for you to handle customers or payments in just one place.
- How to Sync and Integrate PayPal With QuickBooks?
- How to Set Up Connect to PayPal?
- How to Setup Connect to PayPal for the Client?
- How Does Connect to PayPal App Update Transactions?
- How to Match Items in Your Connect to PayPal App?
- What If the Transaction Matches?
- What If the Transaction Does Not Match?
- What Could Be the Reason for Unmatched Transactions?
- Import PayPal Transactions to QuickBooks Online
- Import PayPal Debit Card Transactions to QuickBooks Online
- Boost the Finances and CashFlow with QuickBooks Online and PayPal Integration
How to Sync and Integrate PayPal With QuickBooks?
To send payments with flexibility, one can sync and integrate PayPal service with a QuickBooks account. This can be done directly from your QuickBooks account. All you have to get the PayPal app and allow it to work.
Follow these instructions for QuickBooks PayPal integration:
- Log in to the “QuickBooks Online” account.
- Then, click on the “Apps” tab.
- Search for the “PayPal” app using the search bar.
- Click on the “Get App Now” option.
- Select the “QuickBooks Online company”.
- Hit the “Allow or Authorize” button.
As you follow these steps, you can easily connect the PayPal app with your QuickBooks account. Once the setup is successfully performed, your QuickBooks account will sync with the PayPal service every 15 minutes.
This also updates your new transactions from the PayPal account to QuickBooks Online. This becomes easy to view PayPal records on the QuickBooks platform. In addition, you will receive summary details every day of the integration.
Alert: Do not connect various PayPal accounts with QuickBooks Online. Doing so, you would not be able to get the sales transaction information on your screen.
Connect to PayPal
To integrate PayPal with QuickBooks Online, there are a number of apps that can be availed from the QuickBooks Apps store. Connect to PayPal can be used to connect PayPal and QuickBooks. This helps you to accept PayPal payments through QuickBooks. You can also edit, match, and categorize transactions in QuickBooks once you connect both PayPal and QuickBooks.
Note: Connect to PayPal app is available in the United States and expected to be available in Australia, Canada, and the United Kingdom as the app is in beta testing.
How to Set Up Connect to PayPal?
If you are planning to use Connect to PayPal for PayPal and QuickBooks Online integration, you need to learn how it should be set up.
To do so, you can follow the instructions stated below:
- Login to your “QuickBooks Online” with admin rights.
- Go to the “Apps” from the left menu.
- Search for the “Connect to PayPal”.
- Click the “Get App Now”.
- Check the box for the right file and hit the “Install” button.
- Click the “let’s do it” button.
- Select the “Give permission” in order to authorize Intuit so that it can pull the data from your PayPal account.
- Add the “Email address” linked with the PayPal account.
- Click the “Next” button.
Note: In case you do not have an account, you will be prompted to create a new one. And, if you are going to create a new account, you have to return to QuickBooks Online and then start the connection process again.
- Now, login to your “PayPal” account.
- Select the “Agree and Connect” option in order to authorize sync.
- When you are connected successfully, click the “Return to Intuit” option.
- Click on the “PayPal Bank” where you can view the PayPal transactions.
- Click the “Next” button.
Note: This is generally separate from the bank account and is made automatically based on the setup.
- Now, choose the sales tax rate. This will apply to the imported sales transactions.
- Click the “Next” button.
- In case you have older transactions then choose a date from where you would like to import the transactions.
- Then, click the “Done” button.
If required, you can also import transactions of up to 18 months. Now, we are done with the setup.
How to Setup Connect to PayPal for the Client?
If you are using Connect to PayPal and want to connect your client to it then you can do it by adding your client’s credentials.
Here are the steps for that:
- Sign in to the “QuickBooks Online Accountant Firm” account.
- Open the books of your client.
- Then, visit this page.
- Add the PayPal credentials of your client.
Note: You should use the main admin’s PayPal credentials. This is because only the main admin can grant permissions for the app integration. In case you are an accountant who is invited as the additional user then your PayPal credentials will not work at this moment.
- After this, connect to the client’s QuickBooks Online account.
- When connected, you will see the PayPal account on the client’s Banking or Transactions menu.
How Does Connect to PayPal App Update Transactions?
A lot of users must be wondering how this app updates the transactions after the PayPal integration with QuickBooks Desktop. To find this, you can go to the For Review menu where you can see the status of processed transactions.
- All you have to click on the “Transactions” or “Banking” menu.
- Now switch to the “For Review” tab. Here, you can see the transactions processed within 2 hours.
Also, your app updates after every 15 to 30 minutes. But remember that the Update button will not be helpful to update PayPal transitions.
How to Match Items in Your Connect to PayPal App?
A Service or Product item with your QuickBooks account is tied to the expense or income account. This will allow attributing numerous line items to different accounts.
When you import the transactions from your PayPal account, the Connect to PayPal starts matching your items on the transactions with services or products within your QuickBooks account. The criteria of matching PayPal transactions are based on the name of items.
What If the Transaction Matches?
If your PayPal account easily matches the transaction based on the line items then it uses the matches service or product.
What If the Transaction Does Not Match?
If your transactions do not match then it uses the default item named PayPal Sales. Then, it updates the line description with the item name provided by PayPal.
What Could Be the Reason for Unmatched Transactions?
In some cases, even after the item name matches correctly, it cannot use the item on the transactions. There are two reasons behind this:
Reason 1: The matching service or product in QuickBooks is not marked as the sellable product or service. If the checkbox for “I sell this product/service to my customers” is not selected then your app will fail to import your sales transactions.
Reason 2: The matching service or product in QuickBooks is a category, not a product. A product category is a special feature that can be used to categorize the list of related services or products. Even when the name matches your PayPal transaction, it still cannot be used as the product item within your sale transaction.
In such cases, you will only find the default option which is called the PayPal Sales line item. You will also find the description with the item name from your PayPal account. This way you can import the transactions with the provided details.
Import PayPal Transactions to QuickBooks Online
Although PayPal automatically syncs with your QuickBooks account, updating the transactions manually can also be done. In case you ever need to import PayPal transactions to your QuickBooks Online then you can do so.
There are 3 different ways to do that. For example:
- You can import transactions of accounting products to QuickBooks using CSV or IFF files.
- Users can also use the new PayPal API using the drag and drop option. Using this PayPal API, you can swiftly drag the details from your PayPal account to QuickBooks.
- PayPal Bank Feed machine can also be used to import transactions to the QuickBooks account.
Smart Mapping Technology: You can choose mapping technology by default for categories. This way your PayPal account mapping can be created using the QuickBooks Online account. From the settings, you will be able to edit and view the loan from your PayPal account. This way you can make sure that it is mapped to the correct QuickBooks Online account. Those who are advanced users of QuickBooks can modify the settings without facing any issues with the whole setup.
Section of the Last Transaction: With the earlier transactions, it allows establishing preview transactions in order to import on your QuickBooks Online account. In addition, you can transfer the transactions of 18 days from the date of the present day (during the setup).
If you avoid the import more than the transaction then you can use sync with PayPal. This way you can get an overview of the guide in order to complete the manual import.
Review Transactions After Importing It: As soon as the transaction is imported, you can assess the transaction by subsequent tabs in QuickBooks Online.
- For Sales Transaction: Go to Transactions -> Sales
- Expenses: Transactions -> Expenses
- Bank Transfers: Transactions -> Chart of Accounts -> Select the preferred bank account.
Import PayPal Debit Card Transactions to QuickBooks Online
With QuickBooks and PayPal integration, you can import the debit card transactions to your QuickBooks account. All you have to allow your PayPal app card in QuickBooks.
Follow these steps to import the PayPal debit card transactions to QuickBooks Online.
- Login to your QuickBooks Online account. Make sure you add the correct login credentials.
- Click on the “Apps” tab.
- Hit the “Allow/Authorize” option in order to sync with the PayPal app card.
- Click on the settings of the Sync with the PayPal app card. This will show you a tab.
- Go to the “App settings”.
- Click the “Edit” option.
- Ensure the checkbox is marked for “Include my Paypal Debit Card transactions when importing”.
Boost the Finances and CashFlow with QuickBooks Online and PayPal Integration
Both PayPal and QuickBooks are powerful services used by many business owners. You can even boost your cash flow and finances with QuickBooks PayPal integration.
- Fast Payments: You can send invoices from your QuickBooks account and settle the payment instantly through PayPal.
- Save Your Time: Users can import the transactions for expenses, sales, fees, discounts, and GST through PayPal account.
- Stay Tidy: You can manage expenses and update PayPal sales invoices in QuickBooks Online.
- PCI Compliant: If you need any help, Intuit will help its customers and their business.
- Handle Payments: You can easily manage invoices, billings, and settle for payments related to your QuickBooks mobile app.
In a Nutshell
QuickBooks online integration with PayPal is quite easy and with the advantage of this integration, you can handle the PayPal transaction in the same way as other bank transactions.
In this guide, we have provided the best possible information related to QuickBooks PayPal integration. If you want to proceed with Amazon QuickBooks integration, read this guide to know more.
Frequently Asked Questions
Ans. Yes, using the Connect to PayPal app, you can connect more than one PayPal account to QuickBooks Online. However, by doing so, you would not be able to get the sales transaction information on your screen.
Ans. Once you connect Accept Card Payments with the PayPal app, you can send invoices by clicking the Pay now button. This way your customer can make payments online using their PayPal account, American Express, Visa, and MasterCard. You will get the payments in your PayPal account and the accounting part will be done in your QuickBooks Online account.
Ans. When you enter the transaction, ensure the Undeposited Funds account is selected on the Deposit to Field. For example:
1. Click the “Plus” icon
2. Select the “ Sales Receipt” or “Invoice”.
3. Add the name of the customer.
4. In the “Deposit to field”, add the “Undeposited Funds”.
5. Add the required details.
6. Click the “Save” button.
Ans. Presently, the PayPal app is available for only QuickBooks Online users. Hence, QuickBooks Desktop PayPal integration cannot be followed. Yet you wish to import and export the transactions and lists then you might need to use the Intuit Interchange Format (IIF).
Ans. Yes. This is possible if you enable the Auto-Add feature. By doing so, you can allow the app to import your PayPal sales transactions without reviewing them.