Struggling to understand bank tagging with imported PayPal CSV

[Magicbean]

I can find a lot of related posts but I can’t find the answer to my problem.

I receive aggregated monlthly or bi-monthly payments from PayPal for royalties. I have created a PayPal feed but imported the historical data as a CSV. I did an import from file and it shows up as 167 untagged items. So far so good.

I also opened the CSV file in Excel so I could see the contents.

My problem is that I’m trying to create a rule to tag the payments and in the ‘bank tagging rules’ I can’t get the ‘Match Text’ entry to find anything useful in the CSV and I can’t find any description of what the Match Text actually matches against.

Most, but not all, of the payments come from one agency. All payments are withdrawn to the same current account after a currency conversion.

For example, all payments from accountant@company_who_paid_me.com to me@mycompany.co.uk are payments to me in US dollars. There’s an automatic currency conversion and a withdrawal in GPB to my company current account. - 4 lines in the CSV for one payment.

Almost no string I try in the ‘Match Text’ returns any entries except the Transaction ID. This isn’t any help for a rule because all transaction entries are unique. I was hoping the company name or the email address might match.

What I think I want to do is to automatically generate an invoice for each sale. I’m not sure if I’m even starting off in the right direction.

Thanks.

[QFMathew]

Hi @Magicbean

As the payments are all from the same company, I think the best solution would be to bulk tag them rather than trying to get a bank rule to match this. Although a bank rule may be possible but it will only work when a bank entry is created (so existing entries won’t be tagged using the rule).

The bulk tagging would allow you to create invoices for the same client/supplier in one go. We have more information in our knowledge base, here: Tagging your bank transactions

Let me know how you get on

[Magicbean]

Hi @QFMathew,

I tried to use bulk tagging but in almost all cases, clicking on the blue magnifying glass at the end of the line for the transaction (Bank Merchant Account statement) indicates no other related transactions.

I have manually tagged all the transactions for the current year up to date but I’d still like to see if I could make this work better.

[QFMathew]

The bulk tagging doesn’t necessarily have to be used with transactions with matching descriptions. As long as they’re from the same supplier/client you can use it.

Simply tick the boxes to the left, and then click “Bulk tag selected” at the top of the page.