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It should look the same in QuickBooks but at the moment it looks like it went directly from my credit card to Score without Paypal being involved. Shanif Dhanani speaks about how gathering and using data can improve customer acquisition and retention. These need to be recorded as a sales receipt or a deposit. PayPal offers three account options that should cover almost everyone’s needs.
The Utilities menu of Intuit QuickBooks also has the Import IIF paypal accounting option. This option can also be preferred for recording them.
PayPal key statistics
If you configured your Paypal account correctly you should get to the next step of the Online feeds configuration. There you will have a screen with a date to fetch transaction from and a list of account to choose. Once the PayPal account is created, go back to the Accounting dashboard and click on the Synchronize button.
PayPal has made several key acquisitions in the past decade, aimed at expanding its financial services for customers and merchants. In that time, PayPal spent $800 million to acquire Braintree and Venmo, bolstering its position as a provider of financial services. And as eBay started to feel the effects of a decade of muddled leadership, PayPal looked at a future beyond the e-commerce platform, but first it would need to separate. This leaves a balance of $68.03 in the Gateway Clearing account – which is the total of the PayPal fees for the month of November 2019.
PayPal bank feeds
The following workflow assumes that PayPal is connected to QuickBooks Online. If I view the Profit and Loss Report you can see there’s only one $50 expense even though the transaction was recorded twice. Once going from the credit card to Paypal, the other going from Paypal to Score. In this example I’m using a $50 payment for training from a company called Score.
