 QuickBooks Desktop 2023. Bank feeds. Import PayPal data. Let's do it with Intuit QuickBooks Desktop 2023. Support Accounting Instruction by clicking the link below, giving you a free month membership to all of the content on our website, broken out by category, further broken out by course. Each course then organized in a logical, reasonable fashion, making it much more easy to find what you need than can be done on a YouTube page. We also include added resources such as Excel practice problems, PDF files and more like QuickBooks backup files when applicable. So once again, click the link below for a free month membership to our website and all the content on it. Here we are in QuickBooks Desktop Bank Feed Practice file. We started up in a prior presentation going through the setup process we do every time. In the view dropdown, we got the hide icon bar, the open windows list checked off, the open windows open on the left. Not going to be open in the reports this time because we're going to be importing data related to the PayPal bank feed information, which will often close up all the reports in any case. Let's go to the bank feeds that we have open thus far, banking dropdown, bank feeds. We currently have a bank feed center because we've connected other financial institutions. If you didn't have one setup, then you wouldn't have it here and you'd have to go into the setup bank feed and so on if you're trying to connect to the PayPal for it. But I'm going to go into the bank feed center because we have that open here. We did that in a prior presentation connecting the checking account and the credit card. Now we would like to connect and get the bank feed data for the PayPal information so that I can then see the transactions from PayPal like a normal checking account. And we can also see the inter bank feed data as it is paid to and from or transferred from hopefully PayPal to the checking account. We talked about in prior presentations that the desktop version at this time doesn't allow us to just connect directly to the PayPal with the bank feed setup, which I can go to here or add here, which will close all the windows and type in PayPal. So our options then would be to use a separate application to help to go with the integration, which we're not going to do here or to try to manually input the data from PayPal into the system on the register, which we can do by going to the list drop down chart of accounts, we could set up a new account account drop down or rise up new account. And then we can set up a bank type of account, which will then be the PayPal account, which I won't do here. But note, this is part of the process that we will end up doing when I add the new data from the bank feeds closing this out. Once the account was set up, you can go into it and then add the data into the register manually. So that's another option that you can take with it. Or we can download the data from PayPal. Unfortunately, we cannot do so in the format of a QBO data file as of now, hopefully PayPal will fix that at some point. But we can allow them or get them in the format of the CSV file or CVS file, which we can then convert to a PayPal file if we so choose using this software. I use the proper convert. I'm not advertising for them, but that's something that you could use if you want to. We did two separate conversions so we can use the free file software only being able to convert 10 transactions at a time. Now we have these and we're in the same spot as if we downloaded the QBO file, the data file from the financial institution for a checking account or credit card account. And oftentimes they tell us to just close up QuickBooks. So our options now are going to the banking dropdown. We could go to the bank feeds and import web connect, but I'm just going to close up everything making sure that I'm leaving off in the company that I want to have the data imported into. And I'm going to close it up, close it on down. And then I'll just double click on my PayPal QBO and it should open it back up. And then it's going to ask for my password. My password is password password 123. And so then we'll get in here and there we have it. So QuickBooks has received new transaction data. These indicate whether you want to import this data now or save the file for import later. I'm going to import it now do it now dang it. And so this is the information we don't have any doesn't say PayPal up top here because it's it's a PayPal account. But that's the information it gives us this account number generic number. And we could take it to an existing account or or we're going to put it into a new QuickBooks account. So I can call it a new account. I'm going to set up the new account just basically as we go here. I'm going to call it PayPal, PayPal. And so I'm going to say continue that'll add a new account to the register. Your Web Connect data has been successfully read into QuickBooks. You can view the downloaded data in Bank Feed Center by selecting your financial institution. So I'm going to say OK, that sounds good. Mui B to the end Mui B and so now it's going to open up the Bank Feed Center typically. So there it is. It adds this line up top. If you get that line up top, I just switched the view from top to the side and then there we go. Now it sorts it by the financial institutions up top. So we got the Wells Fargo stuff and then we got the one to one financial credit union, which they put the PayPal under because we had the kind of generic data from it. So there is that information and it pulled everything in nicely. So now let's do it again because we did a 10 by 10 or less than 10 transactions at a time. So I made two of them. So I'm going to close it out again and say can I add the rest of them? Add the rest of them which are right here. I'm just going to double click on the second batch because I could only save 10 at a time and we had like 15 of them. So I saved I converted two batches. See if that causes us any problems or if it will work nicely. So I'm going to say OK, pull that in. We get the same thing here. So I'm going to say OK, looks good. Your Web Connect has successfully read. Good. Mui B to the N, B to the N, Mui B to the N. Hippies are just being man. But why settle for just being when you could Mui B in? I'm going to do that thing again top to the side. And so then if I go here, there it is. So now we've got the unrecognized all 15. Looks like they have pulled in here. So that looks good. So now we've got the same kind of system. We're in bank feed limbo now with basically three cards even though they're in two categories up top. And we can see that we have these enter company or enter bank feed to bank feed transactions with these transfers out. But now I can I'm allowed to enter the revenue side of things which was kind of our major focus. You know, imagining the difference between us recording the revenue waiting till it hits our checking account, which we would have to record as a lump sum as opposed to adding the revenue from PayPal, which could be from these like a multiple different places, which allows us to allocate them to different accounts. So we'll dive into that and add those in a future presentation.