PayPal Integration How to Categorize and How to Record Transfers and Reconcile

[@OriEnRemoto]

Hey Claudia! I only have expense throught my Paypal account, but the transaction doesn´t load in my checking account! Thank you for your time!

[@ClaudiaXperts]

Where are the payments to the PayPal account coming from Orlando?

[@OriEnRemoto]

@@ClaudiaXperts The Paypal account is from Tampa and the person who receive the Money is in Peru.

[@ClaudiaXperts]

@@OriEnRemoto It does not matter where the money is going to. If it is an expense you will categorize as an expense. But where is the coming coming to pay the pay is the question.

[@OriEnRemoto]

@@ClaudiaXperts Yes, it´s an expense, I categorized as a subcontractor expenses. The person is a Virtual Assistant.

[@ClaudiaXperts]

@@OriEnRemoto How is the PayPal being funded?

[@wazup80]

How do you communicate with your clients about duplicate transactions? How do they receive your feedback and guidance?

[@ClaudiaXperts]

I correct if it is PayPal since I know is a system error. I only communicate when I don’t know what is going on. I call or email, if it is in Undeposited Funds I send it through QuickBooks on the Books review tab

[@luistobar7]

How do I separate my income, paid fees to PayPal and expenses ? I need to file the full report to file my taxes. I added my 1099 from PayPal to my tax forms , but how can I get the totals so I can report my expenses?

[@ClaudiaXperts]

If PayPal is integrated to QuickBooks it should show in the PayPal account when you match the transaction. If you are not integrated you can go to PayPal, and get the monthly statement. You may do a Journal entry to record the PayPal fees debit PayPal fees credit Sales.

[@kimh.2812]

How do I a remove a payment made from checking too paypal? The payment should have gone to an invoice,

[@ClaudiaXperts]

Not sure what you mean by removing the payment. Is that because you are seen a transaction duplication?