How to link PayPal payment method and the PayPal bank account

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Hi there, the customers of my company pay to its PayPal account, then my company transfer money from PayPal account to checking account. PayPal has been set up as a payment method on sales, and the asset account is PayPal bank account. The problem is, the PayPal payment method and the PayPal bank account are not linked. When create a new sales invoice and choose PayPal, the PayPal bank account does not come out. How to solve this problem? Thank you very much. By the way, the PayPal method is set up through Setup--Settings--Company--Credit cards--Accepted. Thanks again!

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  • 0
    verified answer

    Hi there,

    By setting up PayPal as a payment method, when you choose PayPal automatically the program will process a transaction to PayPal Bank Account.

    If I understood correctly in Setup--Settings--Company--Credit cards—Accepted you selected PayPal Bank account under Asset Acct column? If that is the case, when you select PayPal as payment method in Sales invoice the program will automatically debit PayPal Bank against a revenue account.

    You can verify this by opening Sales invoice, select a client and select PayPal as payment method enter an amount and select a revenue account then click Report, Display Sales transaction details to see the journal entries.

    Hope this helps

Reply
  • 0
    verified answer

    Hi there,

    By setting up PayPal as a payment method, when you choose PayPal automatically the program will process a transaction to PayPal Bank Account.

    If I understood correctly in Setup--Settings--Company--Credit cards—Accepted you selected PayPal Bank account under Asset Acct column? If that is the case, when you select PayPal as payment method in Sales invoice the program will automatically debit PayPal Bank against a revenue account.

    You can verify this by opening Sales invoice, select a client and select PayPal as payment method enter an amount and select a revenue account then click Report, Display Sales transaction details to see the journal entries.

    Hope this helps

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