PayPal and QuickBooks
QuickBooks and PayPal… let's try to understand these two before we delve deeper into importing PayPal transactions into QuickBooks and accounting automation.
What is PayPal?
PayPal is a very popular payment processor that helps make digital-based payments and transactions across the globe.
What is QuickBooks?
QuickBooks Online is an Online version of QuickBooks accounting software used by millions of small and medium businesses worldwide. It is a cloud accounting solution that helps you perform all the bookkeeping tasks you need, such as journal entries, bank reconciliation, invoicing, etc.
Why Should You Connect PayPal and QuickBooks?
Huge Time-saver: You won't be required to manually input all the transaction data into Quickbooks and record all your Paypal transaction data directly into your QuickBooks, saving time.
To Improve Your Cash Flow: The Quickbooks and Paypal integration facilitates your customers' online payment using Paypal or from their credit or debit card from anywhere in the world. It also helps you keep records in QuickBooks simultaneously.
● Easy and Instant Credit Card Payments: Say yes to credit card payments for your business via Paypal for instant payment transfers. Not only will this increase your global customers' participation in the conversions, but it will also eliminate the necessity of invoicing payments in the future.
● To keep your transactions secure: Paypal keeps all transactions integrated with Quickbooks safe and protected. It monitors cash flow, identifies and prevents fraud, and sends instant alerts if any occur.
● Set up within a few clicks: You can Connect PayPal with QuickBooks online in a few simple steps. Add PayPal to the payment section installed in QuickBooks Online.
Importing PayPal Transactions into QuickBooks Online
Now comes the question of why I should integrate PayPal and QuickBooks. You need to sync QuickBooks and PayPal to Cut down on time spent manually entering sales transactions, expenses, and tax calculations into your QuickBooks. Also, you can expect an error-free bookkeeping sheet that will automatically source detailed information about every penny spent or received.
You must connect your PayPal and QuickBooks accounts with the PayTraQer automation tool to get started. After that, you can record all the historical/old/previous 60-day PayPal transactions into PayTraQer, and the same can be imported into QuickBooks in a single click. Let us see the detailed step-by-step procedure as follows,
Installing PayTraQer:
Installing PayTraQer is very simple—it requires only a few clicks. Let's learn how to connect Quickbooks and Paypal.
Step 1: Search for "PayTraQer" in the Intuit app store and click on the app page.
Step 2: Click on 'Get the app'.
Step 3: For the Online payment systems. Choose Paypal among Paypal, Stripe, and Square.
Step 4: You need to configure your settings and add the necessary details from the minimalistic Settings. The page displays a preview section that connects PayPal to QuickBooks.
Step 5: You can then move on to the Advanced Settings, which features.
Step 6: Click on the respective fields, enter the inputs, and click 'Save.'
Then, you will be able to navigate to the PayTraQer dashboard.
Importing Previous PayPal Transactions to QuickBooks Online
Once you navigate to the dashboard, PayTraQer automatically records your Historical/Old/Previous transactions for up to 30 days. If you must record historical or previous transactions within 30 days, you need to be informed that PayTraQer can record up to 90 days of transactions from your PayPal account.
You can import all the available historical/old/previous transactions from PayPal to QuickBooks Online. And they will appear in the PayTraQer dashboard. You can verify the recorded transactions anytime with a detailed log. Also, click on the 'Sync' button to import your PayPal transaction into Quickbooks instantly.
Using PayTraQer, you can choose between Manual and automatic syncing. Manual Sync allows you to import your selective PayPal transactions.
To QuickBooks Online. However, since this manual process is usually step-by-step workflow-based, importing bulk transactions can become inefficient and time-consuming.
While turning the automatic syncing method to record PayPal transactions in QuickBooks,
You will save lots of money, time, and effort from manpower. It also
Needs to be noted that the syncing methods and the ways will differ based on the settings and account preferences.
Why should you consider PayTraQer?
Have a look at the benefits of the whole process of synchronizing PayPal and QuickBooks with PayTraQer:
Advanced QuickBooks PayPal automation:
The automation system is up-to-date, error-free, and simple to start, even for beginners.
Import historic PayPal transactions:
Don't leave any stone unturned. Get your historic PayPal transactions synced under control without having any challenges.
Reconcile PayPal payments easily with QB:
Reconciling PayPal transactions into QuickBooks is easy and requires no technical expertise.
Undo and Redo synced transactions:
You can roll back synced transactions anytime with a detailed log. Which leaves no space for errors.
Supports transactions with multiple currencies:
PayTraQer supports multiple currencies as you can import transactions hassle-free beyond the limitations of boundaries and borders.
Automatically add products/services:
PayTraQer automation makes things easier, thereby lightening the load on your work. This leaves you enough time and energy to focus on and expand on other important aspects of your business.
Detailed transactions log:
The detailed transactions log helps you easily track every tiny aspect of your business transactions and other activities.
Flexible settings for managing bank accounts:
The flexible settings offered by PayTraQer give you complete control over your data, freeing you from complex processes.
What are you waiting for?
Try out our 30-day free trial of PayTraQer Quickbooks Automation.
For any other assistance or queries, feel free to write to us at support@saasant.com
