PayPal and QuickBooks
QuickBooks and PayPal…let’s try and understand what these two are before we delve deeper into the aspect of importing PayPal transactions into QuickBooks and accounting automation.What is PayPal?
PayPal is nothing but a very popular payments processor that helps making 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 to 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 require to manually input all the transaction data into Quickbooks, record all your Paypal transaction data directly into your QuickBooks, saving a huge amount of time.To Improve Your Cash Flow: The Quickbooks and Paypal integration facilitates your customers to pay online using Paypal or from their credit card or debit card from any corner of the world and helps you for keeping the record 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 this increase your global customers participating in the conversions, but it also eliminated the invoicing payment necessity in future.
● To keep your transactions secure: Paypal keeps all the transactions integrated with Quickbooks safe and protected. It keeps a tab on all the cash flow, identifying and preventing the frauds and sending instant alerts if any.
● Set up within few clicks: You can Connect PayPal with QuickBooks online in a few simple steps. Add PayPal in the payment section installed in Quickbooks Online.
Importing PayPal Transactions into QuickBooks Online
Now comes the question of, Why should I integrate PayPal and QuickBooks? You need to sync QuickBooks and PayPal to Cut down on time spent on feeding sales transactions, expenses, tax calculations manually into your Quickbooks. Also, you can expect an error-free bookkeeping sheet with the sourcing of detailed information about every single penny spent or received automatically.Getting started, you are required to connect your PayPal and QuickBooks account with PayTraQer automation tool. After that, you are able to record all the historical/old/previous 60 days 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 a very simple process, and can be done within 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 to 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 which connects the PayPal with Quickbooks flow.
Step 5: You can then move on to the Advanced Settings which features.
Step 6: Click on the respective fields and enter the inputs and click ‘Save’.
Then you will be navigated to the PayTraQer dashboard.
Importing Previous PayPal Transactions to QuickBooks Online
Once navigated to the dashboard, PayTraQer automatically records your Historical/Old/Previous transactions up to 30 days. If you are required to record the Historical or Previous transactions before 30 days, you need to be informed that PayTraQer could record up to 90 days of transactions from your PayPal account.By the way, you can import all the available Historical/Old/Previous transactions to QuickBooks Online from PayPal. And they will appear in the PayTraQer dashboard. You can verify the recorded transactions anytime with detailed log. Also, click on the ‘Sync’ button to import your PayPal transaction into Quickbooks instantly.
Using PayTraQer, You can use two different syncing options, Manual and automatic. Using Manual Sync, It’s completely possible to import your selective PayPal transactions
to QuickBooks Online. But since this manual process is usually step by step workflow-based, it can sometimes become quite inefficient and time consuming for importing bulk transactions.
While turning the automatic syncing method to record PayPal transactions in QuickBooks,
you will end up saving lots and 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 for the whole process of synchronizing PayPal and QuickBooks with PayTraQer:Advanced QuickBooks PayPal automation:
The whole automation system is up to date, error-free, and simple to get 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 doesn’t require any technical expertise from your side.Undo and Redo synced transactions:
You can rollback 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 taking a heavy load off your work, leaving you enough time and energy to focus and expand on other important aspects of your business.Detailed transactions log:
The detailed transactions log helps you to track with every small aspect of your business transactions and other activities with ease.Flexible settings for managing bank accounts:
The flexible settings offered by PayTraQer gives you complete control over your data, thereby having you free 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
