PayPal Transactions into the QuickBooks
PayPal allows the money transactions to be completed free of costs. It is an international-commerce business site. All the organizations use PayPal irrespective of their size and industry type. The information from the PayPal can be transferred to the QuickBooks. It can be done with the help of the QuickBooks Technical Support. Manually entering all the information is not a viable option for businesses dealing with thousands of transactions in a single day. All the activities on the PayPal can be imported into QuickBooks by changing it into an .iff format which is the Intuit Interchange Format. You can contact the QuickBooks Enterprise support to know more in this regard.
Set up QuickBooks to Import the PayPal Transactions
You need to prepare the QuickBooks to import the PayPal transactions. The QuickBooks Technical Support Number can help you to do so. Firstly you will have to create new accounts such as bank account, Income account, and expense account. All these accounts will be created solely for entering the PayPal transactions.
Creating the Intuit Interchange Format
Whenever there is a debit in your balance you can add it to the expense account whereas in the case of credit it is added to the income account of the PayPal. During the .iff import, the QB tries to locate the existing customer names and match them with the new ones. In case, there is no match the customer name is added to a new list. If there is any doubt understanding the process, you can seek the QuickBooks Technical support. They are very receptive to the complaints and queries of the customers. Their help can be availed by using the QuickBooks support phone number.
You need to always backup your QuickBooks file before trying to make an import.
Using the .iff File with the help of the QuickBooks Support
Follow the given steps to download and use the Intuit Interchange Format file. Contact the QuickBooks Enterprise support in case you need any help.
Log into Paypal→ My account→ History→ Download History→ date range→ Files types→ choose the .iff format→ Download history
Enter the names of the account as they appear in company’s accounts.
Enter the PayPal Account name→ Expenses Account name→ Income Account name→ save .iff to desktop→ QuickBooks File Menu→ Utilities→ Import→ IIF Files. Click Open.
If you face any confusion pertaining to the process of importing PayPal account please contact the QuickBooks Enterprise Support to seek help.