SimplePort Simplifies PayPal-QuickBooks Data Importing

Knowledgebase
Search by keywords:

-or- Search by tags:

Contact Us
Simple Business Systems, Inc.
216G Mt. Hermon Road
Suite 1603
Scotts Valley, CA 95066-4009

Phone Toll Free: 877-336-7274 (SBSI)
Phone Direct: 831-336-2958
Fax: 831-401-2660

8:00AM - 5:00PM PST M-F

KnowledgebasePrint this Article
SimplePort MISC Group Settings
Top :

Article ID: 000005
Rating: 5.0 / 5.0 (4 votes)
Views: 2412

The MISC group settings imports optional transactions, set values for optional data fields and supports currency conversion.

If you use account numbers in your QB Chart of Accounts please do not enter them in the SimplePort setting, just use the QB Chart of Accounts name only.
The MISC group settings include...
QB eBay Purchase Expense Account:
QuickBooks Expense Account for eBay purchases. Enter an account name in this setting for SimplePort to recognize eBay purchases and assign them to this account. Suggested QB Account Name: eBay Purchases.
QB eBay Fees Expense Account:
QuickBooks Expense Account for eBay fees (auction and others). Enter an account name in this setting and SimplePort assigns eBay fees to this account. Suggested QB Account Name: eBay Fees.
Skip eBay Fees (checkbox):
Check this box and SimplePort bypasses eBay sales. Users of eBay Accounting Assistant (EAA) will find this eliminates duplicate entries when importing transaction data from both PayPal (via SimplePort) and EAA. The related PayPal fees are also skipped as those should be imported by EAA .
QB Sales Class:
Complete this setting if using QuickBooks Sales Class. QuickBooks classes provide a way to classify income and expenses transactions by department, business office or location. Specify the QuickBooks Class to be applied to Sales. 
Leave this field blank if not using QuickBooks Classes.
QB Default Expense Class:
Complete this setting if using QuickBooks Classes of expenses. QuickBooks classes provide a way to classify income and expenses transactions by department, business office or location. Specify the QuickBooks Class to be applied to Default Expenses. 
Leave this field blank if not using QuickBooks Classes.
QB Shipping Expense Class:
Complete this setting if using QuickBooks Classes fo shipping expenses. QuickBooks classes provide a way to classify income and expenses transactions by department, business office or location. Specify the QuickBooks Class to be applied to Shipping Expenses. 
Leave this field blank if not using QuickBooks Classes. This setting over-rides the QB Default Expense Class setting.
QB PayPal Money Market Dividend Income Account:
QuickBooks Income Account for PayPal Money Market Dividends. Enter an account name in this setting and SimplePort assigns PayPal issued dividends to the account. If no entry is made in this setting and dividend income is imported, it is assigned to your default income account. Suggested QB Account Name: PayPal Dividend Income.
QB PayPal Cash Back Bonus Account:
QuickBooks Income Account or PayPal Cash Back Bonuses. Enter an account name in this setting and SimplePort assigns the funds to this account. If no entry is made in this setting and cash back income is imported, it is assigned to your default income account. Suggested QB Account Name: PayPal Cash Back Bonus.
Currency Conversion:
Check this box and SimplePort converts foreign currency transactions into your home currency, noting the exchange rate used by PayPal. If this setting is NOT checked, SimplePort bypasses all foreign currency transaction details and customer information.
PayPal tracks funds in multiple currencies and provides currency conversion services (fee based). By default, SimplePort assumes your QuickBooks is using only one currency and only imports transactions in that currency.
The SimplePort currency conversion feature works for the special case where you do not keep a foreign currency balance in PayPal, but always automatically convert the funds to-and-from local currency.
For a complete description of the SimplePort Currency Conversion feature please read this FAQ > SimplePort Currency Conversion: Multiple Currencies.
Import PayPal "Option" values into QuickBooks "Other" columns:
Check this box and SimplePort brings the PayPal "Option 1 value" and the "Option 2 value" column entries as the "Other 1" and "Other2" columns in QuickBooks Sales Receipts. This function is not often used.

Rating
Did you find this article helpful?