Reconcile Monthly PayPal Statements in Minutes With QuickBooks Online

[@Notjobincome]

thanks a lot this made soo much sense!

[@Jackwight]

Very helpful video, thank you! Quick question: How are the COGS associated with each of those sales being accounted for?

[@nerdenterprises]

Hi Jack. That's a different part of the process. PayPal is just, how the sale was paid for. If you are an eCommerce company, then your shopping cart would process the sale, and your inventory management module (which could be QBO or a third party app) will track the inventory and COGS when that sale is recorded. Any indirect COGS like Freight in, of course has to be tracked separately!

[@jeffbarnes8461]

Is there a better service than Paypal for sending out invoices and receiving money that is more compatible with Quick Books?

[@nerdenterprises]

With QuickBooks Online you can invoice directly from there and get paid with QuickBooks Payments. For QB Desktop you could use Bill.com for both invoices and payments to vendors, and that syncs nicely with QuickBooks.

[@tinavlassie5303]

Sure wish you has spoken a little slower.

[@nerdenterprises]

Sorry about that. You can slow me down in the player settings. Here's a screenshot: nerdyurl.com/YT-Playback

[@WendyKeller]

Groan! Are you even speaking in English? This is so confusing. You must have made it for only those people who are certified public accountants - which isn't me. Thanks anyway. It's more stressful than before I saw this video!