I’m wondering how to upload my paypal transactions, when I manually sorted the paypal transactions last year, I noticed there is soo many transactions categories to handle. If I upload this CSV will quickfile sort this? Or do I need to edit the raw csv to take out the fluff?
Here’s all the the different types I have in last years accounts,
PayPal Express Checkout Payment Received
Payment Received
Shopping Cart Payment Received
Mobile Express Checkout Payment Received
Mobile Payment Sent
Payment Sent
Recurring Payment Sent
Shopping Cart Payment Sent
Web Accept Payment Sent
Invoice Received
Pre-approved Payment Sent
PayPal Express Checkout Payment Sent
Currency Conversion
Mobile Express Checkout Payment Sent
Authorisation
Request Received
Refund
Temporary Hold
Pending Balance Payment
Cancelled Fee
Recurring Payment
Subscription Payment Sent
Credit to Credit Card
Charge from Credit Card
For my other currencies, I should create a new account in quickfile manually edit the transaction amount by converting into pounds,
Please help me, paypal transactions drive me crazy.
Also what happens, if you upload a duplicate transaction by accident?
Sorry to hear you’re struggling with the PayPal feed. Just from the list of the scenarios you’ve mentioned (and this is just a subset) you can see that there are many many different transaction types in PayPal and translating this into a useful set of accounting records can be difficult, especially if you’re dealing with multi-currencies, cancellations, credit holds and all kinds of other edge cases.
Firstly I would establish whether you really need to use the feed at all? The simplest way to handle PayPal for accounting purposes is to just lodge, weekly or monthly bulk sales invoices. I.e. go into PayPal pull a report on all sales and all charges and lodge as two entries on your PayPal merchant account and post the former to a client called PayPal Sales and the charges to a supplier invoice.
Specifically regarding multi-currency it’s not likely we can fully support this unless PayPal change their feed format. One critical aspect for multi-currency is the exchange rates. PayPal post say a USD entry on one day without the GBP equivalent, then they go an modify that entry on the feed 3-5 days later. To make this work we’d have to constantly poll back a week to check for changes which is simply not practical.
Any foreign currency entries will therefore need to be manually uploaded to a separate USD/EUR (or whichever other currency you’re using) denominated merchant account. At this stage, without bulk logging there is no simple alternative.
So you mean, every month, just lodge all the paypal transactions made during the month into a 2 transaction in quickfile, outgoing and incoming?
I fear this wouldn’t be suitable for booking as I’m required to break down the transactions into categories, e.g ecommerce sales, seo, web design, web server, maintainece etc
Is there a solution here, from your response even without the multi currency issue, it doesn’t sound optimistic?
Yes, it would be a single invoice. If you had multiple income streams you want to report separately on then you’d need to create the invoice with multiple lines, one for each category with the respective sub-total and then pay it to the PayPal merchant account.
With the ongoing automated feed we already remove a lot of the noise in the statement and only import those entries relevant to your accounting. Multi-currency still needs manual attention though and due to the technical limitations briefly discussed here and elsewhere it’s not something we can simplify at this time.