Introduction

With QuickFile you can eliminate the burden of keying in all your PayPal transactions by setting up an automated link to your PayPal account. The PayPal feed will automatically import all your PayPal transactions without you having to do a thing. All new PayPal sales will be automatically tagged, with invoices that are created on the fly.

How to setup a PayPal feed

Setting up a PayPal feed is simple, from the "Bank Management" screen scroll down to "Merchant Accounts and Online Payment Services" and click the corresponding plus icon to create a new account.

On the bank settings screen change the ‘Account Name’ drop down to ‘PayPal (Merchant Account)’.

You will now see a popup like the one below directing you to the feed setup area.

You will be prompted to enter the PayPal e-mail address you wish to connect to. When you click to continue you will then be redirected to PayPal where you can grant permissions to QuickFile so that we can retrieve your PayPal transactions.

Once permissions have been granted you will be presented with number of settings.

Allocating sales

You have a few options on how to handle your PayPal sales:

1. You can lump all PayPal sales under one Client in QuickFile (for simplicity)

2. You can have QuickFile automatically create and allocate the sales to Clients based on the sender’s registered PayPal e-mail (ideal if you require detailed information and tracking for every Client).

3. Simply download the transactions without creating invoices and tagging to clients.

Allocating PayPal charges

QuickFile automatically aggregates and tags all your PayPal charges to a supplier of your choice. By default QuickFile will create a supplier called ‘PayPal (yourpaypal@email.com)’.

Bank allocation

QuickFile will set up a holding account for all your PayPal transactions. You can view this at any time from the "Bank Management" area, under the Merchant Accounts tab.

Transferring money from PayPal to your regular bank account

When you initiate a transfer from PayPal to your regular bank account there will be a transaction corresponding to this on the PayPal holding account in QuickFile. This transaction will be untagged. You will need to tag such transactions manually and mark it as a transfer to the appropriate account.

Please note: there is likely to be a discrepancy in the date the transfer appears on your PayPal statement and the date it arrives in your bank account (usually 2-3 days). This will present a problem when trying to reconcile the two, as it will not be possible to link the transactions together due to the differing dates. In the PayPal settings there is an option ‘Ignore transfers to bank’. When checked the PayPal feed will ignore any transfers, leaving you to tag the entries on your current account as transfers from the PayPal account. This enables you to avoid any duplication.

Refunds and Payments

Only sales are automatically tagged for any downloaded transactions. You will need to manually tag any payments you make to other business or individuals as well as any refunds you issue to your clients.

Feed scheduling

Your PayPal feed will update once every 24 hours typically in the early hours of the morning. If you revoke any permissions for QuickFile to access your PayPal account the feed will automatically suspend until you update your settings.

Changing your Feed Settings

The PayPal feed provides a number of additional settings that control how new entries imported from PayPal are treated on your accounts. You can access these settings at any time by going into the PayPal account (you can access this from Bank Management screen), clicking 'More Options' and selecting 'Feed Settings'.

If you want to completely remove your feed you can also do this from within the PayPal feed settings. Deleting the feed will not remove the underlying PayPal account or any of the previously imported transactions.

Enabling or Disabling auto tagging

Auto tagging was designed as a convenient way to automatically create client and sales invoices from your imported transactions. Sometime you need more control over how your PayPal items are tagged. Within the PayPal feed settings page (see above) there is an option to determine how QuickFile should treat new sales imported from PayPal.

Manually downloading PayPal transactions

The PayPal feed will automatically download your transactions once every 24 hours at around 2am GMT. If you can’t wait until the feed automatically retrieves your transactions you can force QuickFile to manually download the most recent entries from within the PayPal Merchant account statement screen, and then by selecting ‘More Options’ and ‘Refresh PayPal Feed’.