- How to setup a PayPal feed
- Allocating sales
- Allocating PayPal charges
- Bank allocation
- Transferring money from PayPal to your regular bank account
- Refunds and payments
- Feed Scheduling
- Changing your feed settings
- Enabling/Disabling auto tagging
- Manually downloading PayPal transactions
On the bank settings screen change the ‘Account Name’ drop down to ‘PayPal (Merchant Account)’.
You will now see a popup like the one below directing you to the feed setup area.
You will be prompted to enter the PayPal e-mail address you wish to connect to. When you click to continue you will then be redirected to PayPal where you can grant permissions to QuickFile so that we can retrieve your PayPal transactions.
Once permissions have been granted you will be presented with number of settings.
You can lump all PayPal sales under one Client in QuickFile (for simplicity)
You can have QuickFile automatically create and allocate the sales to Clients based on the sender’s registered PayPal e-mail (ideal if you require detailed information and tracking for every Client).
Simply download the transactions without creating invoices and tagging to clients.
Please note: there is likely to be a discrepancy in the date the transfer appears on your PayPal statement and the date it arrives in your bank account (usually 2-3 days). This will present a problem when trying to reconcile the two, as it will not be possible to link the transactions together due to the differing dates. In the PayPal settings there is an option ‘Ignore transfers to bank’. When checked the PayPal feed will ignore any transfers, leaving you to tag the entries on your current account as transfers from the PayPal account. This enables you to avoid any duplication.
If you want to completely remove your feed you can also do this from within the PayPal feed settings. Deleting the feed will not remove the underlying PayPal account or any of the previously imported transactions.
The PayPal feed will automatically download your transactions once every 24 hours at around 2am GMT. If you can’t wait until the feed automatically retrieves your transactions you can force QuickFile to manually download the most recent entries from within the PayPal Merchant account statement screen, and then by selecting ‘More Options’ and ‘Refresh PayPal Feed’.