First, I am new to Qb Community. Please tell me how to originate a post instead of only bring able to comment of pose questions via s reply to existing comment!
Second, my Pay Pal transactions in QB online leave me frustrated snd befuddled. I had PP set up as a bank account for years and this way I received all the information that appears with the transactions in PP such as who it was to or from, the banking transaction text, etc.
The bookkeeper I had did not like having to delete the duplicate sale information arising from linking it as a bank account so we removed it as a bank account. Now she only books the PayPal transactions from when they show in a bank account update. This is good fot her but creates issues fot me. Half the time or more I cannot tell who the actual Payee was that paid via PP nor can I see what thry bought or what invoice they paid. This means I cannot properly categorize the transaction other than as a “Transfer” but this does not tell me or anyone if it is just an internal transfer from PP to business checking, and therefore not counted in revenue, if it paid for something and if so what and from whom, OR if the transfer needs to book as a sale/income. It leaves me blind.
What is simplest, most straightforward way to access PP transactions through QB? Is this as a bank account that separately pulls in the transactions (and if so, is there a way to set this up to avoid duplicate deposits/income)?
if the better way is to just let the bank account provide them, how do Iget the rest of the info I need to categorize, attribute payment to correct customer, etc? And, how fo I avoid the confusion created by the net PP amounts deposited not matching the gross amount bookkeeper is entering the sales paid via PP. it is creating so much confusion as I cannot exactly match the transaction amounts on the bank statement to the transaction amount that can be found in the P&L Detail report for each month?
Obviously, accounting is not in my genius zone but with the prominence and wide adoption of Quick Books surely there is a best practice that accomplishes all of these goals?
