by Marie | Mar 20, 2016 | Bookkeeping 101, Importing Files & Forms To QuickBooks, QuickBooks for Mac, QuickBooks for Windows, QuickBooks Online, Third Party Applications - QuickBooks Compatible
There are two ways to download Paypal transactions to QuickBooks: 1) via .iif file and 2) via .csv or Excel. I do not recommend the IIF approach as it does not allow for editing before uploading to QuickBooks, and Paypal transactions are not as seamless as bank transactions – they require editing. Instead, export the reports to Excel where you will be able to do the necessary editing before uploading to QuickBooks.
How to Import Paypal Transactions into QuickBooks
- Log in to your PayPal account
- Click the Activity tab, and select your date range
- Click the small Download link to the top right corner of the screen to get to the Download History screen
- Choose your date range, either Custom Date Range or Last Download to Present from the drop-down list
- Choose File Type to Download, file would be QuickBooks (.iif)
- Click Download History
- When prompted to enter the account names, enter the account names exactly as they appear in the Company’s Chart of Accounts:
- Name of PayPal Account
- Name of Other Expenses Account
(Be sure that the expense account being used is not a sub-account of another expense account or it will be turned into a bank account when it is imported into QuickBooks).
(If Accounts Payable balances are being paid by PayPal transactions, you can enter the name of your Accounts Payable account here, but the Vendor names in PayPal must match the names in QuickBooks).
- Name of Other Income Account
(Also, be sure that the income account being used is not a sub-account of another income account or it will be turned into a bank account when it is imported into QuickBooks).
(If Accounts Receivable balances are being paid by PayPal transactions, you can enter the name of your Accounts Receivable account here, but the Customer names in PayPal must match the names in QuickBooks).
Note: You will have to fill in all of the boxes, or you will receive a message from PayPal stating: You must complete the above fields to download your log.
- Save the iif to the desktop
- From the QuickBooks File menu, select Utilities, Import then IIF Files
- Select the iif file located on the Desktop, and click Open
by Marie | Jul 26, 2014 | Company Setup & Management, QuickBooks Online, Third Party Applications - QuickBooks Compatible
QuickBooks is built to work with interchanging of data from one edition of QuickBooks to another using IIF (Intuit Interchange Format), and from CSV (Comma Separated Values) files such as excel, to QuickBooks. However, there are limitations to the extent that QuickBooks provide and allow. For example, you can import your list of customers, vendors, items, and chart of accounts to QuickBooks, but not your invoices, estimates, or any other forms. This is where third party applications come in, to extend QuickBooks usability beyond its limitations.
With QuickBooks being so popular, many software developers have developed and are still developing applications that work and aim to work seamlessly with QuickBooks to get forms and files into QuickBooks from other media, such as excel, access, text, and ODBC (Open Database Connectivity). Thus, there are many applications available to carry out the various tasks that may need to get done, such as:
- Transfer of data between QuickBooks company files
- Transfer of data between QuickBooks and an e-commerce site
- Transfer of data between QuickBooks and generic file formats
- Transfer of data between QuickBooks and other programs
Albeit that, QuickBooks database is “closed” and access to their data tightly controlled and so only a few developers will be able to gain access to create a system software that effectively integrates with QuickBooks. Two such importers are:
You can view a complete list of Transaction Pro Importer features, and also IIF Transaction Creator Pro features. Transaction Pro Importer currently does not support Mac platform, but IIF Transaction Creator does. There is also a data transfer program that allows interchanging of information strictly between QuickBooks files known as Data Transfer Utility. This program by Karl Irvin most distinct feature is the merging of two QuickBooks company files.
Importing items into QuickBooks via excel is a two step process; first you have to export them to a file (.CSV, .IIF), and subsequently import the file(s) into QuickBooks. With a third party import software such as Transaction Pro Importer, you import files and forms directly through the program. You can always download a free trial for a test run of each importer program before making your purchase. The main detail to remember when using these importing applications is to always make a backup copy of QuickBooks before importing anything into QuickBooks. These programs and software are man-made, and as such, prone to err.
Visit QuickBooks Marketplace and search for a list of third party applications that integrates with QuickBooks for your industry type, and specific need.
Recent Comments