PayPal Accounting Automation

PayPal serves as a credit card processor, sales system, bank account, loan provider, and money transfer tool. This versatility can lead to complex data flowing through accounting systems.

info

PayPal generally reports on Pacific Standard Time (PST). If you have changed this setting, update your connection timezone setting to match your PayPal timezone.

Key Features

• Multi-Currency Support: Separate entries for each currency.
• Balance Impact: Every entry impacts the PayPal balance, either increasing or decreasing it.

PayPal Templates

PayPal Withdrawals and Deposits

This template captures transfers in and out of your account. Bank deposits and withdrawals post on separate lines to ensure they can be easily matched in accounting.

Transactions Included (Click to expand)

• Bank transfers
• Credit card transfers
• Debit card transfers
• Payment refunds
• Receivables financing
• Charge-off Adjustment
• General Account Adjustment
• Incentive Adjustment
• Balance Manager Account Bonus
• BillPay transaction
• BML Credit - Transfer from BML
• BML Withdrawal - Transfer to BML
• Buyer Credit Payment Withdrawal - Transfer To BML
• Bonus for First ACH Use
• General Account Correction
• Coupon Redemption
• Credit Card Cash Back Bonus
• Credit Card Deposit for Negative PayPal Account Balance
• CC Security Charge Refund
• Debit Card Cash Back Bonus
• Hidden Virtual PayPal Debit Card Transaction
• Reversal of Debit Card Transaction
• Electronic Funds Transfer Funding
• General Bonus
• General Credit Card Deposit
• General Credit Card Withdrawal
• General Dividend
• General Incentive/Certificate Redemption
• General Reversal
• General withdrawal to not bank entity
• General GI/Open wallet Transaction
• Gift Certificate Redemption
• Instant Payment Review (IPR) reversal
• Merchant Referral Account Bonus
• MSB Redemption
• General PayPal Debit Card Transaction
• PayPal Debit Authorization
• PayPal Debit Card Cash Advance
• Virtual PayPal Debit Card Transaction
• Mass Pay Refund
• Payment Refund
• Generic Instrument/Open wallet Reversals (Buyer side)
• Mass Pay Reversal
• PayPal Buyer Warranty Bonus
• PayPal Debit Card Withdrawal to ATM
• PayPal Protection Bonus, Payout for PayPal Buyer Protection, Payout for Full Protection with PayPal Buyer Credit
• Points Incentive Redemption
• Reversal of ACH Deposit
• Reversal of ACH Withdrawal Transaction
• Reversal of Points Usage
• Generic Instrument/Open wallet Reversals (Seller side)
• Reward Voucher Redemption
• Consolidation Transfer
• ACH funding for Funds Recovery from Account balance
• Bank Deposit to PP Account
• PayPal Balance Manager Funding of PayPal Account
• Auto-sweep
• General Withdrawal - Bank Account
• World Link withdrawal

PayPal Payments Sent

This template captures any payment sent to another entity. Each payment sent is shown on a separate journal entry line to allow you to see each expense. This template does not capture any fees tied to those payments as all fees are found in the Account Fees' template.

Transactions Included (Click to expand)

• 3rd Party Auction Payment
• Chained Payment/Refund
• Direct Credit Card Payment
• Donation Payment
• eBay Auction Payment
• Express Checkout Payment
• General Buyer Credit Payment
• General payment
• Generic Instrument funded Payment
• Gift Certificate Purchase
• MAM Reversal
• Mass Pay payment
• Mobile Payment
• Payment Bill User Payment
• PayPal Buyer Credit Payment Funding
• PayPal Here Payment
• Postage Payment
• Rebate Payment/Cash Back
• Rebate/Cashback reversal
• Subscription Payment
• Tax collected by Partner
• Third Party Payout
• Third Party Recoupment
• Virtual Terminal Payment
• Website Payment
• Cryptocurrency

PayPal Payments Received

This template captures any payments received from another person or entity. If you have a Shopify store using PayPal to process payments, for example, those order payments would appear in this template.

Transactions Included (Click to expand)

• 3rd Party Auction Payment
• Chained Payment/Refund
• Direct Credit Card Payment
• Donation Payment
• eBay Auction Payment
• Express Checkout Payment
• General Buyer Credit Payment
• General payment
• Generic Instrument funded Payment
• Gift Certificate Purchase
• MAM Reversal
• Mass Pay payment
• Mobile Payment
• Payment Bill User Payment
• Payments received
• PayPal Buyer Credit Payment Funding
• PayPal Here Payment
• Postage Payment
• Rebate Payment/Cash Back
• Rebate/Cash back reversal
• Subscription Payment
• Tax collected by Partner
• Third Party Payout
• Third Party Recoupment
• Virtual Terminal Payment
• Website Payment
• Cryptocurrency

danger

This template does not capture any fees tied to those payments; all fees are found in the Account Fees template.

tip

It is recommended that if you use Shopify from Bookkeep that you map the PayPal balance to a clearing or balance account that is netted against the specific payments received from Shopify from the Payments Received template. (Not directly to the PayPal balance but another clearing account e.g. Shopify - PayPal clearing account.)

PayPal Account Fees

This template captures all fees from PayPal. These could include product fees, chargeback fees, conversion fees, service fees, or payment processing fees.

PayPal Chargebacks

This template covers chargeback activity and adjustments. In our experience, this is an uncommon scenario.

PayPal Payables and Receivables

This template covers funds payable as well as funds receivable. This is an uncommon scenario based on our experience.

note

• All templates require you to map your PayPal Balance account.
• We do not post or capture currency conversions done within PayPal.
• We do not capture any holds or releases of funds done by PayPal.