Business Payments: Customize Your Settings

sync paypal with quickbooks

Sync PayPal with QuickBooks Online: How to Customize Your Settings in

 

Having connected your company and your accounts, you can start customizing your settings. You can always find it in the upper right corner of your homSync paypal with QuickBooks Onlineepage:

 

What are the settings that you can customize

  • Synchronize Automatically – when “ON”, the system will automatically synchronize all of the transactions in your connected payment systems with your QuickBooks account. When “OFF”, you can choose which ones to sync. You can find all of your synced transactions under “Received transactions”. If you need to import older transactions, you can do it by clicking on “Import old transactions”. There is no time limit for how far back you can go.

sync PayPal with QuickBooks Online

  • Skip synchronization for duplicated transactions – when “ON”, transactions that already exist will not be synced again
  • Apply payments to unpaid Invoice/Bill transactions – when “ON”, once the system encounters a payment that matches an unpaid invoice, it will be applied to the invoice. The invoice will be closed automatically.

 

Sales transaction settings

  • Deposit account – you can choose an account that your QuickBooks sales receipts, refund receipts and payments will be deposited into
  • Payment Method – choose a payment method (cash, check, credit card, PayPal or Stripe) that will be set for QuickBooks sales receipts, refund receipts, payments and expenses
  • Product/Service type – choose between Non-inventory or Service. This will be used for creating products and services which do not exist in your accounting company.
  • Product/Service income account – choose an account that will be used for products and services, which do not exist in your accounting company and will be created automatically during the synchronization.
  • Apply default product – when “ON”, it assigns a default product name to all of your transactions. Choose from existing ones under Default Product or type in a custom product name and press enter
  • Apply default customer – when “ON”, it assigns a default customer name to all of your transactions. Click on to select a name. Choose from existing ones or type in a custom name
  • Product – choose or type in a name to be used if there is no product name to be found in your transaction

 

Taxes

  • Apply taxes – when “ON”, the system will search for a matching tax code. In case the system cannot find it, a tax amount will be included in the total sum

 

Fee settings

Vendor – the app will use this QuickBooks Vendor to store your PayPal fees. Select available, or type in a custom one

Fee bank/Credit account – this setting specifies the bank/credit account, to which the PayPal fees are applied

Fee line account – this setting specifies the line account to which the PayPal fees are applied

 

PAYPAL ONLY

 

Expense settings

Expense Bank/Credit account – this setting specifies the Bank/Credit account that the expenses are attributed to

Expense line account – this setting specifies the line account that the expenses are attributed to

Apply default vendor – when “ON”, it assigns a default vendor name to all of the vendors, instead of creating a new one for each transaction. Choose from existing ones or type in a custom vendor name and press enter

 

Remember, that any question you can address us. We will be glad to help you!
Just leave us a message, call us on 302-261-36-44 or write to support@cloudbusinessltd.com.

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