 QuickBooks Online 2022 paypal bank feed to bank feed transfer. 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 known as the get things done page. The business view as compared to the accountant view changing to the accountant view is something you can do by going to the cog up top switch to accountant view down below we will be toggling back and forth between the two views either here or by jumping to the sample company file currently in the accountant view back on over we're gonna open up a few tabs to put reports in by right-clicking the tab up top duplicating it going back to the tab to the left right-clicking again and duplicating again as that is thinking I'm gonna jump back over to the sample company file to see where the reports are located and the accountant view which is on the left-hand side under reports going back to the business view the bank feed practice files second tab we're gonna go to the business overview on the left-hand side open up the reports and close up the hamburger and then open up the balance sheet we want to go into that balance sheet and do the range change range change 010121 to 123121 and run it tab to the right going into the business overview again reports hamburger and then going into the profit and loss this time the P&L the income statement doing the range change from 010121 to 12313121 and run it now we're gonna go to the first tab where we're gonna look at our bank feed data that we've been putting into place working with the bank feeds here if you're in the business view that's in the bookkeeping section transactions up top banking tab if you happen to be in the other view the accountant view it would be in the double banking tab banking tab to the left and then banking tab to the top and going back on over to our transactions closing this up we've got three tags up top here and we've got our PayPal we've got the checking we've got credit card we're automating everything we can at this point in time and now we're focusing in on the PayPal that are transfers from PayPal to the checking account and therefore we have a bank feed to bank feed type of transaction and let's see how that's going to be recording because we're going to see them pulling through and to separate bank feed areas so we could think of it on either side we might say go into the PayPal in here of course it would be a transfer out note that it is matching with this automatic match thing so it's seen that it looks like a transfer to it so that's going to be helpful that'll help us to do the transfer or we could see it on the checking account side and say in the checking account side it's going to be a transfer as well so we can see it it's matching on this side and this side of course it would be an increase kind of like a deposit type of form so there's a couple ways we can we can kind of see how you might record these and let's go through a few of them there's a preferred way but let's just see a couple different ways you could record this I'm going to go into the checking account side because I think that's often more natural for people to do to record the transaction you know on the checking account side although the PayPal is kind of like a checking account when it's being used for increases and decreases too and note down here that if I say here record as a transfer that's what you would typically want to do generally because that's going to define the fact that it's that it's not you know like a deposit form in this case but a transfer form you could use a deposit form too but the problem with a deposit form is that when you go to the other side on the PayPal side which is basically a checking account you're gonna have a deposit form that's an increase which is kind of funny looking it still works but it's a little funny looking the transfer it's gonna look like a transfer on both sides that's why it's kind of useful even though it's gonna record from a journal entry standpoint the same thing so I'm gonna go to here's afterwards but let's first experiment with that let's go to the category which most likely will then record it as a deposit and I'll show you what I'm talking about you can still record it this way but let's this will just give us an example of why we might use a transfer as opposed to a deposit or an expense form because all three forms could be used to record this transaction okay so we're gonna go down and say this is gonna be I'm just gonna call it a PayPal transfer PayPal transfer on the vendor let's let's go ahead and add that although it's a transfer and maybe a vendor wouldn't be appropriate at all but I like to put something there so I can sort by it if I wanted to and this is going to be a look at put it as a customer and then the category is going to be going to the PayPal that's gonna be the other account so it's already matched it out so it already thought there's gonna go to PayPal that's a checking account type of account and then down here we got the memo we could make a rule for it but I'm not gonna make a rule right now because we're just gonna be experimenting with the transaction so let's do it and see what happens confirm confirm that Roger out 10 for and then we're gonna go to the first tab to the right and scroll on up and run it holding control down scrolling up a bit and then we should just have something happening between these two accounts let's go into the first one and we should have then the deposit going in here the deposit somewhere in here there it is and so it was recorded here and it's recorded note as a deposit type of form instead of a transfer which looks normal here because it's increased in the checking account so deposit a form is kind of appropriate on this side of things and so if I go into it it doesn't go into the bank fees it goes into the deposit form and there we have it the other side is be going to the PayPal account so let's close that out let's go to the PayPal account this is the side that's gonna look a little bit more unusual the usualness is un it's an un there's an unness to the usual making it unusual by going it let's get let's check it out going into the PayPal you tell me you tell me if it's unusual we're gonna go into here and say this is going to be 15 now it's a negative going out here which is basically like a checking account but it's doing it with a deposit form isn't that unusual usual with an un in front of it because normally you think a expense form or a check form would be decreasing it and that's of course because we have a transfer basically that's happening so the deposit form works but possibly not ideal just just because it looks a little bit funny to see that deposit there no big deal but it looks a little funny so if I go to the first half then let's try it the other way let's try another way of doing this let's go to the PayPal side this time the PayPal side and by the way if it if it didn't automatically pick that one up now we've already recorded it down here but now we have to we have to match it out so I'm gonna match it out on this side so if I go into it it's Matt it's found a match so it matched it out and all I have to do is confirm that it's not going to record anything new because now I've already recorded it and this is just basically gonna help me out with the reconciliation process on this PayPal side so let's do that one let's do another one let's do this 9 9 9 9 that means the government's not gonna track that one because it's under 10,000 but now they're tracking everything under 600 or something or they're threatening to do I don't know any case let's do it from the PayPal side of things we're going in there and we're gonna say let's record this one as a category this is a decrease on the PayPal side now again we should record it I'll record the last one that's a transfer but let's record this one as a category one because it's a decrease and you would expect then the system will pick an expense type of form which will look normal on the decrease but it'll look funny on the other side because you'll have an expense type of form that's going to be increased in the checking account so let's let's check that one out so we've got the vendor here it's just a transfer so I'll just no vendor I'll just keep that as is checking account the other side's going into the checking account and I'm not going to make a rule this time we're just checking it out confirm and then we'll check it out confirm Roger that tab to the right tab to the right and then we're going to run it and then let's go into the let's go into the PayPal this time this is where it will look it should look usual without the on in front of it and then the other side you got the usual but with the on in front of it making it unusual there's the 9999 see how it's in there with an expense form this time which looks normal because it's a decrease to the PayPal account so that's looks usual looks usual there's nothing with an there's no on involved here so we have the expense form and it's it's a it's a transfer so there we go goes into the expense form closing that back out so that's of course different than the one that looks unusual here which is the deposit form which is a decrease that we use the last time in the PayPal side see so let's go back up top and then say let's this is where the unusual happens if we go into the checking account we go into the checking account we're going to see an increase of the 9999 that the government's not going to take a look at because it's under that 10,000 but now they they're going to look at it now they're going to try to you're going to try to take it or something I don't know any case it's in the expense side so now we have an expense type of form but it's an increase isn't that unusual that's unusual because normally expense forms decrease it that's weird but it still works because it's a transfer in essence not a problem in terms of the transaction the financial transaction that's why though the transfer form will look normal on both sides because there's no kind of preference so we're going to go back on over let's do it the way that would be recommended this time let's do it from the checking account side again checking account side of things now on the checking account I need to confirm this one this one has been found now now I just need to confirm it on the checking account side because we recorded it on the PayPal side so I'm just gonna say confirm Roger that 10 for 10 for and then the next one is the 5000 so let's do that on the checking account side and do it the proper way this time do it the right way do it the right way will you transfer form that one that way to look like a transfer on both sides okay then so PayPal's the other side it's gonna be a transfer so there it is let's do that one let's do it confirm confirmed it has been confirmed we have spotted spotted it the transaction has been spotted two o'clock twelve o'clock radar we're gonna go in then to the checking account let's go into the checking account we had the 5000 5000 somewhere around here round here is that it that is that's the one and so now it's in there with a transfer form which isn't a deposit or expense so it could go up or down and not and it'll look usual without the UN in front of it it'll just look usual because it's a transfer so we're gonna close that back out and scroll back up again and back on over and then the other side is in the PayPal account pay up how PayPal we're gonna go into that one and there this one should be a transfer to so this one's a decrease with a transfer form which that's fine it could be going up or down and look just usual just usual so there is that there's the transfers the inter company transfers let's go and make sure I clicked off the last bit on the first tab see if we have to confirm this last one no it's been confirmed it has been confirmed citing confirmed citing confirmed okay so that's the PayPal stuff and we'll go back to some bank rules in the checking account enter in a few more transactions and there in future presentations