Paypal is one of the best money transfer platform used worldwide. If most of your transactions go through paypal then you would need to have a well trusted platform that will help you in bookkeeping. Well that’s where Quickbooks pro comes in.
This accounting software integrates well with paypal and helps you save much of your time in manually recording transactions.
Here are the steps on how to record paypal transactions in quickbooks but if you don’t know how to get started with quickbooks then check the link:
Though the above steps are good enough to help you record your transactions. But incase if you face any issues than simply Contact the Quickbooks support toll free no. +1800-940-7442.
Before you download paypal transactions to quickbooks, please don’t forget to setup your accounting software to handle paypal transactions. For this you would need to create certain accounts in your quickbooks. To do this, follow the steps below:
.iif is the file extention given to files that can only be opened in quickbooks. Because of the popularity of quickbooks pro the accounting software used world wide, paypal can save files in this format if needed.
To import the transactions to your quickbooks you can use the .iif file within paypal. This imported file than can be used in quickbooks for more editing.
When you import the paypal transactions using .iif then the credit amount is recorded on income side of quickbooks and debit side is recorded on the expenses side.
If the customer’s name is being imported with the present customers name in QuickBooks and if in any case that the customer’s name does not match with paypal then it will be recoded as a different customer. Thus always keep the name of your customers “same” as this makes easy in maintaining books.
If you are interested in mannually entering the transactions that didn’t import that you would have to download the paypal file in a .csv format.
Steps of how you can import .CSV for quickbooks.
By now you would already know “how to record paypal transactions in quickbooks”. But if you want quickbooks to automatically monitor your paypal transactions then you would need to sync both of them together.
Follow the steps to find:
Thus from now on, you will need not to update your paypal transactions manually as these will be done autmatically.
Paypal is the world’s renowned money transfer platform that is used by majority of people. If you use paypal and transfer payments more frequently then quickbooks pro would be a boon to you. Its integration is seamless with paypal and ease of use only adds to your benefit.
Still facing issues related with quickbooks, here is our Quickbooks Online Support Phone Number i.e. 1800-940-7442.
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We are a Quickbooks and TurboTax consulting firm that takes care of all the issues that people might ever face within these programs. If you are using any of the above platforms and are continuously faced with bugs then we are here to help. You can connect with us for errors related to Quickbooks or TurboTax via any of the medium below:
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Disclaimer: QBpro.ca is a reputable QuickBooks® Consulting firm that provides professional support services related to your accounting software. It is also a front-runner in providing 3rd party technical support services for quickbooks.
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