Technical ArticlesUncategorized

Sync Quickbooks and PayPal

By August 1, 2014 No Comments

How do I sync QuickBooks and PayPal?

For more then 10 years these two companies have dominated in the small business market. Surprisingly they STILL don’t integrate. There is no automatic way to import your PayPal transactions into Quickbooks – Wow!! Alas, if you use PayPal for digital transactions there is a pretty easy way to import your transactions into Quickbooks even though not completely painless.

This article will be a series of steps showing you how to setup Quickbooks for the Paypal import and how to complete the import. Lets begin:

Part 1 – Setup Quickbooks (you’ll only do this once)

Open Quickbooks and create the following with these EXACT names:

  • Create a new Bank account named Paypal Account
  • Create a new Expense account called PayPal Fees
  • Create a new Income account called PayPal Income

Part 2 – Sync QuickBooks and Paypal (you’ll use this all the time)

  1. How do I synchronize Quickbooks and PayPal

    Fig 1

    Logon to the computer with Quickbooks

  2. Login to PayPal website
  3. Click History > Download History
  4. Select “Last Download to Present”
  5. Select File Type for Download: Quickbooks (.iif)
  6. Click Download History button
  7. Type in exactly as this picture  (Fig 1) and click “Download Log”
  8. Save iif file to desktop
  9. Open Quickbooks
  10. Create Quickbooks backup BEFORE Importing
  11. Go to File > Utilities > Import IIF Files…
  12. Open the downloaded IIF file from the desktop.
  13. Everything should Import automatically if you typed the names in Step 7 correct

 

About Lambros Computer Solutions

Lambros Computer Solution is a full service computer solution provider, headquartered in Lehigh Acres, FL, specializing in small business and home users. Their services offered include Fort Myers computer repair, PC repair, laptop repair, laptop screen replacements, data recovery, starter websites, website design, website hostinghosted exchange, wireless setup, servers and networking. Lambros Computer Solutions operates with integrity, fairness, and a passion for helping people. For more information, call 239-303-4343.