How to Import PayPal Transactions into QuickBooks?

Being an international e-commerce business, PayPal allows its users to manage their payments online. PayPal has millions of its users and is considered as one of the best modes for payment transactions. Whereas, QuickBooks is a stunning accounting software that helps businesses to manage their accounts online. So, to import PayPal transactions into QuickBooks, you need to follow some guidelines in order to execute it successfully. However, to record PayPal transactions, you will need to generate an invoice and record the payments individually for each sale. Fortunately, PayPal activity can be exported to an Intuit Interchange Format (.iif) file and can be easily imported into QuickBooks. So, if you are trying to import your PayPal transactions manually into QuickBooks, this blog has got you covered! This blog will teach you how you can import PayPal transactions into QuickBooks online without facing trouble. If these steps acquire you more time, then it would be best to get in touch with a technical expert. To get professional help in importing PayPal transactions into QuickBooks, call an expert at QuickBooks helpline number to quickly understand the methods. 

Setup QuickBooks to Import from PayPal:-

  • The very first step will be to create a new bank account name as ‘PayPal Account’ in QuickBooks.
  • Now, you need to create an ‘Expense Account’ and name it as ‘PayPal Fees.’
  • The last step will be to create an ‘Income Account’ name it as ‘PayPal Sales.’  

Steps to Download your .iif from PayPal:-

Step 1: The first step which you need to do is log in to your PayPal account.

Step 2: The second step will be going to the ‘My Account’ tab and then selecting ‘History.’ 

Step 3: Without any doubt, click on ‘Download History.’

Step 4: Now, choose a ‘Date Range.’

Step 5: Opt for a QuickBooks file (.iif) under the ‘File Types for Download’ option.

Step 6: Now, click on ‘Download History.’

Step 7: Now, provide ‘Name’ to your PayPal account and other income and expenses accounts.

Step 7: Save the .iif file to the desktop.

Step 8: Select Utilities > Import > IIF Files from the ‘QuickBooks File Menu.’

Step 9: Select the .iif file located on your desktop and click ‘Open.’

Steps to Download your CSV from PayPal:-

Step 1: The first step you will be doing is logging in to your PayPal account.

Step 2: Now click on the ‘My Account’ tab and then put the cursor on the ‘History’ option.

Step 3: The third step will be to select ‘Download History.’

Step 4: In this step, you will need to choose the date range, either ‘Custom Date Range’ or ‘Last Download to Present’ from the drop-down list. 

Step 5: You will now need to choose the ‘File Types for Download’ option.

Step 6: And, the last step will be to click on ‘Download History.’

Steps to Import PayPal Transactions into QuickBooks:-

Step 1: To import PayPal transactions into QuickBooks, the first step you need to do is to log in to your QuickBooks online account on your desktop.

Step 2: The second step will be to select ‘Apps’ from the left menu.

Step 3: Now, select ‘My Apps’ at the top.

Step 4: Locate the ‘Sync with PayPal’ app card.

Step 5: Choose ‘Settings’ on the ‘Sync with PayPal’ app card.

Step 6: A new tab will open, and now select ‘Run’ in the ‘Manual Import’ section.

Step 7: Enter the desired date range and hit ‘Run.’

After implementing these steps correctly, you will successfully import your PayPal transactions into your QuickBooks account. If you get stuck in between any of these steps, don’t hesitate to call on QuickBooks phone number to speak with the well-qualified and expert technicians. The QuickBooks tech gurus are available 24×7 round the clock to help you with the best tech advice in no time.

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