 QuickBooks Online 2022 PayPal bank feeds add data to financial reports. Get ready because it's go time with QuickBooks Online 2022. Here we are in our bank feed practice file we set up with a 30-day free trial holding down control scrolling up a bit to get to the 125% currently in the home page otherwise no one is the get things done page. The business view as compared to the accountant view you can't switch to the accountant view by going to the cog up top switch to the accountant view we will be toggling back and forth between the two views either here or jumping over to the sample company file currently in the accountant view. Back to the bank feed practice file opening up a couple tabs to put reports in by right-clicking on the tab up top and duplicating it back to the tab to the left right-clicking again and duplicating it again. As that is thinking let's see where the reports are located over here in the accountant view which is on the left-hand side under reports. Back on over to the business view we're in the second tab bank feed practice file going into the business overview to locate the reports and we're going to open up a report which you may recognize it might be familiar to you if you have seen some of our prior presentations if not it's going to be called the balance sheet the balance sheet report that's the one balance sheet major financial statement report range change up top from 010121 123121 run and then tab to the right we're going to go into the business overview the other report that we work with from time to time knowing as the profit and loss the income statement the P to the L change in the range 010121 123121 and run going to the first tab looking at that bank feed information which is what we've been working with here in the business view in the bookkeeping section transactions up top banking if you were in the accounting view by the way it would be under the banking tab and then banking tab so double banking tab banking tab tab banking banking tab tab any case we're going to then close up the hamburger back on over we got three three things we're dealing with up top here three little tickets that would deal with you got a toggle between the two look what if I scroll down a bit there's the third one so we got PayPal we've got the checking we got the credit card now we've got the PayPal is something you can connect to which is great because because then if you're using PayPal more as like a bank account that can be useful again if you're just using PayPal as an intermediary to like collect some money that you're getting from one platform or something like that then you might just use it to collect the money and then pay it out of PayPal into your checking account and you might just say hey it's good enough for me just to see it hitting the checking account and then add it as income in the checking account in other words if I got all my all if I just used as a transfer and I got some amounts from say PayPal in the checking account bank feeds I might just wait till it clears the checking account and then simply add them here to to my income and just call it whatever income it is that I've received noting that I'm not gonna have that detail here I'm just gonna see it's from PayPal but I know that everything I brought in is from that one source however if you're using PayPal to get multiple payments from multiple people and or you're paying stuff out of PayPal then you got to have the detail because you're using it more like a bank in that situation so in that case let's go back to the first tab and I'll just add them fairly quickly because it's a fairly you know it's the same kind of process to add them now that you have the stuff in there now that it's in what I call bank feed limbo we got to pull it into the promised land so it can be used to create the financial statements just like the checking account it needs a little guidance a little bit more information that guidance and information typically including an account to be assigned to as well as a customer and a vendor would be good as well we're also then next time gonna look at those inter inter bank feed transactions where we are for example paying money out of PayPal and transferring into the checking account where we've got that inter bank feed kind of thing we'll talk about that later so just so to see how we can classify this so if you're getting paid from like platforms like a Udemy platform or something like this you could set up a rule now and I could see the detail that I couldn't see if I waited until I transferred it into my checking account so if I look at my income statement then I can go back on over here we got the same kind of issue with the income statements normally that the rule would be I want to have like one income account for the things that we do like possibly teaching platform income in my case and that I could put all the income into that one account from different platforms but since I'm pulling this in just from the bank feeds I can't really run the sub reports quite as easily here so you might end up doing that what you wouldn't normally do in a full service system which is to name the customer in this case the platform so what I'll do is maybe make a parent account which would be like income from teaching platforms and then possibly put sub accounts of the teaching platforms so to do that what I'm going to do is I'm going to switch on over to the business view I'm going to go to the first tab because I'm adding accounts here and I'm sorry I'm going to switch to the account view because the business view is I don't think it is good at the adding of the accounts I'm hitting the cog up top switch to the account view I think quick I think Intuit should change that and they may do it they're not going to do it because I said so they don't listen to me but I feel like people will say hey look you're at this the whole thing of adding accounts is a mess your account in the view is okay but you know this adding account things no no something's wrong with it so indicates I'm going to go to the accounting on the left-hand side we're going to go into the to the chart of the accounts here and we can add the accounts here or we can add them basically as we as we add the bank feeds let's do both I'll add the parent account here and then I'll add the sub accounts underneath it while I enter the bank feeds so I'm going to say I want a new account new account it's going to be an income type of account income type and then I'm just going to call it teaching platform income teaching platform income or something like that some some variant on that other primary income and that'll be the parent account the other accounts I'm going to try to make the sub accounts of it so I'm going to say save that one save it and then all the other accounts I'm going to name as the platform and put them as the sub accounts of the one we just set up which we called the teaching platform where did it go where did it go should be right here I see what happened it got changed to other primary income when I changed that that okay I'm going to hit the drop-down I'm going to edit it again I didn't want you when I changed that I didn't want you to change this up here this I want it to be teaching platform income platform income let's try it again ultra vase another time let's see if it if it works this time teaching platform income is there the other ones are going to be sub accounts of it okay so now let's go back into the bank feeds I'm in I'm going to open the hamburger I'm going to add the other accounts as we go through the bank feeds now in the account infuse I'm going to go to the banking tab then the banking tab banking banking tab tab double banking tab tab to bank tab and then I'm going to add this one out let's set a rule up to add it so I'm going to say let's just do a rule on this one to add it so I'm going to say categorize it I'm going to say this is going to be you to me you dummy adding it going to be a customer that we will be adding so I'm going to say that's the one customer and then the category which is going to be the account that we wanted to be going to I'm going to make a new account as we go sub account of the teaching platform income because this is a teaching platform we're going to say and so I hit the drop-down income and then it's going to be I'll say this first this time and I'll just call it you to me which is unusual to name it the name but that's could be useful like for the circumstances we are in so I'm going to say let's save it we'll hold on a sec sub account sub account of the teaching platform income that's how the plan was that's how the plan is supposed to come together and I love it when the plan comes together let's make a rule about it create a rule I'm going to make a rule this is the rule people it's going to be called you to me and then it's going to be a money in rule and it's going to be a paypal it could go to all the accounts but we'll just keep it at paypal and then it's going to all conditions met if these conditions are met in the description if it contains you to me then we want to deposit type of form which is going to go into the teaching platform income you to me parent sub account and the pay is going to be you to me that's the rule that's the rule people save it let's do it so there we have it rules been set I can then add these I'm just going to hit here and I'm going to say control or shift that one and let's just accept all of that stuff I'll accept this one just add that one and let's see if it does what we would expect if I go to the to the balance sheet run it hold down control scrolling up scrolling on up we're going to say now we have the paypal account with a balance in it we got the same beginning balance kind of issues and whatnot that you'd have to reconcile for the paypal like with any other checking account we won't go into that here but we'll talk about it with regards to the checking account and then if you were to drill down on any of these of course you'd be drilling down to the source document which they created a deposit form with you're not going to go back to the bank limbo stuff on it going back on up and hold on a second back back to our report income statement run it and so now we've got the teaching platform income and then the actual platform underneath so we could see kind of that subcategorization and then the detail in there so let's just do the other ones real quick here similar kind of thing so I'm going to say alright skill share let's do the same thing for skill share I'm just going to copy I'll just call them skill share that's going to be my customer tab ad tab and ad and it's going to go into I'm going to make a new category new category and it's going to be called it's going to be a bank type or an income type of account other primary income which is going to call it skill share under the subcategory of teaching platform teaching platform income that's what we want adding it's similar thing there and so that looks good and then let's make a rule I'm going to make a rule people that everybody has to follow my rule or at least these transactions do no one else follows my rule but quick book quick books follows my rules when I make them so it's going to be all description contains skill share deposit type of form skill share looks good let's save it that's my rule so now let's go this one's going to be this one and let's can I sort it by category so we'll take all of these and just dump them in accepting that stuff and then if I go back into the balance sheet and run it so we're going to have the transactions they're going into PayPal here PayPal and the other side then go into the income statement the more interesting side of things if we run it now we've got our drop-down for the teaching platform income skill share you to me skill share and you to me back to the tab to the left and so we got one more to add let's add that one and then skill success we'll do just the same thing slightly different name here we're gonna say right skill success we'll say that's gonna be the vendor or custom or added other account it's gonna be a new category new one income and other primary we'll call it skill share sub-account of the teaching platform income and then save it and close it save it and close it make a rule I make I make lots of rules here we go we're gonna make a rule there it is everything looks good let's go ahead and save it the rule has been made quick books you have to follow my rule hold on a second how come there's two anyways we're gonna say it's gonna be from here to here accepting the rule and then we're gonna go tap to the right and run it so now we've got our PayPal account it's got more activity in it it's just mock stuff here so it's the balance is not correct because we don't have the beginning balances and that in the decreases and whatnot so it's just what it is and then I'm tapped to the right we can then say run it and now we've got our teaching income and we got the breakout of the areas in it we go back to the first tab let's do this just a couple more times got Disney that we need to deal with and then teachable it's going to teachable teachable which is actually a different kind of platform but whatever we'll do the same thing just to finish this rounded out memo teachable and we'll say save it customer new new account adding the account as we go income type of account it's going to be other and we'll put that to teachable sub-account teaching platform income save it and then rule I'm going to make a rule again I make I'm getting good at making rules I know how to make rules we're going to save this rule been applied again and then I'll tab these off and we'll add those so same kind of thing if I go up to the let's just look at the income statement this time run it so now we've got our teaching platform and our actual platforms underneath it for a bit more detail back to the first tab we've got Disney plus that sounds like a personal expenditure that doesn't sound like a business thing so let's put that to draws here I'm going to say draws let's say this is going to go to let's say owner owner and let's just call it draws owner draws and let's make a rule on that one let's make a rule for Disney plus and say I'm going to make a rule for you Disney this is a rule make better stuff so I'm going to go down here and say okay let's save it I'm not really a fan of all this all the stuff that's being created Disney's like they're all terrible but Disney's the best of the worst of the streaming content in my I don't know what I'm talking about in any case I'm going to add those accepting those just do your quick books this isn't a Disney commentary this isn't commentary on streaming content or whatever they should be taking my content should go up on Netflix and Disney that's what they should do any case if I go into PayPal it's better than the stuff they're making my stuff's better we've got then a decrease down here we've got the expenses so there they are going back on up the other side's on the incomes actually it's not it's under draws because it was a personal thing so we did the same personal thing down here under draws so it's not hitting the income statement because it's not a business type of thing do I get to write off Disney plus I don't know I hate to say no but I don't think it doesn't seem like most people should but I'm a content creator maybe I guess I don't know just this is just an example problem okay this isn't tax advice anyways then we got the transfers so the transfers are what we're left with next we've got these inter company transfers to the checking account that's what we'll deal with next time