There were days when we had our pens hurling over papers to do the accounting. We have had rooms with bundles of ledgers and accounting books. Then we started embracing the computers. We had our fingers thumping on the keyboards to stock up our accounts in the computers. Then accounting software lifted half the burden off our shoulders, wherein accounting was accomplished with some clicks.
But in today’s automatic digital climate, bookkeeping is made absolutely sweat-free that you will not even need to spend a click for your bookkeeping. Every transaction that you make with PayPal directly reflects in your QuickBooks company.
PayPal and QuickBooks
PayPal is a payment processor by which individuals and businesses can transfer money electronically. To put it in other words, people can send and receive money from anywhere, anytime in any way they prefer.
QuickBooks is the universally adored accounting software, trusted by millions of small business owners and accountants from coast to coast. QuickBooks can handle time and labour-consuming accounting chores seamlessly in minutes.
Why Should You Connect PayPal with QuickBooks
PayPal is widely used by about 286 million people around the globe for their transactions. QuickBooks helps millions of accountants worldwide. And there is a considerable horde of people who use both PayPal and QuickBooks.
Both of these applications work splendid individually. Both are leading applications in their industries. But they are two individually functioning units. They have no connection between them so far. If you are using both PayPal and QuickBooks, this non-connection will cost you more time and labour. Let us see how.
PayPal will have piles of your transaction data with precise details like customer name, items, date of the transaction and even the time of transactions. QuickBooks is a great relief to accountants, but QuickBooks can start the accounting process only when the values are given. Without feeding the transaction details, you cannot use QuickBooks.
PayPal cannot toss on your transaction details to QuickBooks on its own. And QuickBooks has to wait until it gets the values to work on. So, how are the details communicated from PayPal to QuickBooks?
The mundane way of doing it is manually copying each value from your PayPal account to QuickBooks. Each column and each digit of the transactions is manually typed into QuickBooks. This is a very long process that consumes hours of labour. Even then, the records are not accurate. Manual entries always have room for errors. These errors will ruin the credibility of your reports and may inflict a great mess at the time of reconciliation.
How to Connect PayPal with QuickBooks
As mentioned earlier, manually loading data from PayPal into QuickBooks is tiresome, time-consuming and not accurate. What if there is an integration with PayPal and QuickBooks? Have you ever wished to copy your PayPal transactions into QuickBooks fast and error-free?
Well, you are not alone. There are tons of people who think the same way.
But things don’t really have to happen this way. There is a way out.
There are a handful of applications on web stores to bridge the gap between PayPal and QuickBooks. The most efficient one on the platter for you.
PayTraQer is an Intuit authorized application that seamlessly syncs your PayPal transactions to QuickBooks, without manual intervention. It is a #1 user rated application trusted by thousands of small business owners and accountants around the globe.
With PayTraQer, instead of a person manually typing in the data, you can let the software do the interactions and pass on the values from PayPal to QuickBooks. This automation will ensure accuracy and you will have clean and fresh books all the time.
How to Use PayTraQer
To import PayPal transactions into QuickBooks, you have to connect PayPal to QuickBooks using PayTraQer. To install and use PayTraQer, you just have to follow the following simple steps.
Step 1: Log in to your QuickBooks account and search for ‘PayTraQer’ in the Intuit App Store.
Step 2: Click on the ‘Get the App Now’ button and sign up with your QuickBooks credentials.
Step 3: Connect your PayPal account with PayTraQer.
Step 4: Do some basic configuration and get started with PayTraQer.
How to Import Historical Transactions
Once you hit the dashboard, you can see your PayPal transactions for the past 60 days automatically downloaded to PayTraQer. If you want to sync your PayPal transactions older than 60 days, you can do it by clicking the ‘Download Historical Transactions’ button. You can download transactions as far back as required. There is no limit.
You can sync them by clicking the ‘Sync’ button.
Syncing Real-Time Transactions
You can sync your ongoing PayPal transactions to QuickBooks in a couple of ways. One is the manual sync and the other is the popular auto-sync.
Auto-Sync: By turning ON auto-sync, all your real-time PayPal transactions will be automatically synced to QuickBooks every 30 minutes. You don’t even have to open the application.
Manual Sync: This will be helpful if you want to inspect each transaction and sync only the selective transactions. You can select each transaction manually and click the ‘Sync’ button.
How PayTraQer Eases Your Business
Saves You Time
While PayTraQer handles all your time-consuming data entry tasks, you will have a lot of time to focus on the big picture. Manual entry that takes weeks to complete will be completed in just minutes using PayTraQer.
PayTraQer can seamlessly sync your PayPal transactions to QuickBooks, leaving no room for errors. Everything is automated and software-driven so that you will not miss out on any transaction or face inaccuracy at the time of reconciliation.
As your books are fresh and accurate, you will have your reconciliation in the breeze. These de-cluttered records will add up to your credibility and will be of great help at the time of reconciliation.
At times, we might have mistakenly synced some transactions, which will cost you hours to delete if you are manually doing it. But using PayTraQer, you can easily rollback your synced transactions in a snap, leaving no trace at all.
Saves You Money
By using PayTraQer, you can cut down the cost of manual data entry. You will again save hours of labour and money on checking out for errors and rectifying them, as you will have error-free entries.
So, what are you waiting for?
Connecting PayPal to QuickBooks has never been so easy and efficient.If you are looking out for a powerful application for importing PayPal transactions into QuickBooks online, PayTraQer would be a smart choice. Leave your tiresome data entry to PayTraQer and import PayPal transactions into QuickBooks on-the-go. You shall try exploring PayTraQer with their 30-day free trial and make a purchase if you see it fits your business. Drop them a mail at email@example.com if you have any queries.