I have set up the paypal feed for my quickfile account. I can see it has linked directly to my GBP paypal, and has pulled n my purchases, and transfers from my Euro paypal, and AUD Paypal.
Am I correct in assuming the feed only links with the GBP paypal account?
If so, as most of my sales are either in European Union, or exports paid in Australian dollars (Which I do a balance conversion on paypal into my GBP account) so I assume these sales will be unreported.
I can see it won’t be too much hassle to create on quickfile two separate paypal holding accounts and use end of month paypal summary statements to show the sales that are funding the UK account.
It will link with any PayPal account but only GBP items will be imported on the feed, any foreign currency sales or purchases will not be imported. For this reason it’s not recommended that you link the PayPal feed if the majority of your transactions are in AUD or EUR.
You can instead bulk allocate sales from PayPal (e.g. once a week/month) and just convert any foreign currency items to GBP. There’s a guide below that outlines this process: