Gain confidence through complete control of PayPal data before it gets into your accounting system. All transactions are sorted out, well-organized, and ready to be posted with a click of the button.
Easily record a complete breakdown of sales, fees, taxes, and shipping. Save time with automated matching of PayPal transfers and mapping of payments to Vendors and existing Bills or Expenses.
Simplify bookkeeping by choosing between individual transactions or consolidated record keeping with batch sales and refund processing into daily summaries. Review complete tutorials here: http://paypaladdon.dashboardstream.com/videos/
How it works with QuickBooks
Our PayPal to Accounting app puts users in control of PayPal transaction processing, and syncs those transactions automatically with QuickBooks Online. Transactions from PayPal are segmented into product sales, fees, shipping and taxes. They are ready to be easily and accurately recorded into QuickBooks Online. User controls what to post and how to post it, processing complete transactions or fees only. Assign expense accounts and vendor payees (for payments), special income accounts to payers (sales, shipping and insurance) and a liability account for tax.
We provide a bridge between PayPal and QuickBooks Online. User can sync transactions in real time. They are sorted out and organized by type, ready for submission. Review new sales, customers, vendors, refunds, transfers, shipping/insurance and tax before recording it with a single click of the button. Sales can be recorded individually or use daily batch mode to reduce the number of sales transactions to be posted into your accounting system. Simplify record keeping with a maximum of 31 sales transactions in a given month vs. hundreds or even thousands… Multi currency auto conversion is pending.
14-day free trial. No credit card required to join. Cancel anytime.
|DataQlick PayPal to Accounting
||$19 per mo /1000 transactions
||Free trial. Simple plan. One price. $19 for each additional batch of 1000 transaction
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Online support: http://dashboardstream.com/support/
How do I set up PayPal to Accounting?
Connect your PayPal and QuickBooks Online. Then, configure your default income, expense, shipping income and tax liability accounts using a dropdown menu of your chart of accounts. Sync your latest PayPal transactions with “Sync” button. You are ready to select and submit your transactions into your accounting system.
How sales, refunds and transfers will be recorded?
Sales will be recorded as a deposit to your PayPal bank and posted to an income account. Sales amounts are separated from the shipping, insurance, tax and PayPal fees, providing a true gross sales total. Your transfers will be processed in and out of the PayPal bank according to your assigned bank and credit card accounts setup. Refunds will be processed as an expense.
How are payments will be posted?
Payments to vendors will be processed as an expense. You are able to link existing vendors in payment transactions. Next time you process the same PayPal payee - it will automatically be associated with your vendor. Every individual payment requires an assigned expense account, which will be remembered in all future transactions.
How are fees, shipping and tax recorded?
PayPal fees are recorded as expenses. Shipping and insurance are combined and recorded in a separate income account. Tax is recorded into the assigned liability account.