PayPal Bank Feeds

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Not yet sorry. It's up near the top of the list but can't get it all done at once.

Just so long as it's on the to-do list ;-)

Any updates on the timing of this? This is a huge time saver to help ensure that entries are pulled down in the appropriate way and efficient way.

I am would love to see paypal feeds available.

me too.

have you worked out paypal bank feeds yet??

I am also keen to see this feature in the future.

But, anyone who has gone through the process of uploading PayPal data into _any_ accounting system will know that it is quite complex.

At the moment the best work around (as advised by Saasu) is to create your own custom upload. Once you have a "clean" export from PayPal, go to:

View > Import or Export > Import Transactions (then create a 'Custom' upload)

That's the easy part. The hard part is cleaning up your PayPal data. This will also be the biggest challenge for Saasu to create an automated upload process (correct me if I'm wrong!). Here are some of the problems I have come across which would need to be automated (some would be difficult):

1. Items with status "Request sent" need to be removed (if you don't, these records will have duplicates).

2. Items with status "Update to..." need to be removed (if you don't, these records will have duplicates).

3. Check items with status column "Uncleared" or "Held" or "Placed" (as these items could come up again in your next upload - be careful not to duplicate the same record).

4. Ensure that any items you do remove (above) do not have fees on them which are not already accounted for somewhere else.

5. Sum the PayPal fees and upload this as a separate "Purchase".

6. Ensure that "Withdrawals" are accounted for.

7. Ensure that sales and purchases are completely separated, ready to be uploaded accordingly.

8. Ensure that overseas sales are marked as such so you can make the correct GST designation to these sales.

9. Ensure that you are only uploading one line item for foreign currency transactions. PayPal creates several records or any foreign currency transaction (even if it is just one sale or purchase). Picking the correct one to upload into your accounts is obviously important.

10. Cross check all of the above to see if the withdrawals to your bank account actually match the data you are about to upload to your accounting system.

I use this process to upload sales from http://steplight.com.au/monitor-energy/ once per month. The only down side is that anyone who wants a full tax invoice for their purchase needs to wait until the end of the month to get it.

I hope that helps. If someone has worked out a better way to do all this, I'd be keen to know.

- Ryan McCarthy

I too have found all the accounting softwares to have trouble with importing paypal properly. They claim they can do paypal when you try it something's always wrong like missing the fee column.

Great instructions Ryan thanks!

I'd love to see paypal bank feeds too

I want paypal feeds

Yes PLEEEEEEEEEEASEEEEEE!!!!!

Yes please - would love an ETA on this.

I would love to be excited, and trust this will happen in next update.

Though, if I look at this thread - this feature has been top of the list for nearly one year ;)

The release is imminent folks - a matter of weeks now. Thanks for the feedback!

Can't wait! Curious, though, if we are already using onesaas to push eBay and website sales (and payments) into saasu, how well will this integrate? ie: I mostly need paypal feeds to automate the creation of purchases for the paypal fees on each sale, but don't want to duplicate the actual payments.

Hi everyone

To let you know, we're releasing PayPal feeds tonight. We've updated our blog with the details. http://bit.ly/u5A1MF

Fabulous, FABULOUS news!

Great News.

On reading the help page:
http://www.saasu.com/2011/11/01/paypa...

Its says:

"You can easily account for fees associated with your PayPal transactions. For example: a $97.80 amount received in your PayPal automated feed may relate to a $100.00 original Sale. You can now easily update this transaction to account for the fee by editing $97.80 to be $100.00 in the feed. Saasu will automatically account for the $2.20 PayPal fee."

That's great about the paypal fee being entered into an expense account, but mention of manually editing the sale amount seems a bit odd. How will this work with my onesaas integration? ie: onesaas pushs the correct sale figure through to saasu, which should then be automatically matched up with the paypal bank feed payments. (which are also already created by onesaas). They only think this paypal API should do now is create a purchase transaction & payment for each paypal fee. Having to do any sort of manual adjustment for each transaction seems like a step backwards, so perhaps (hopefully) I have just misunderstood the help page.

Can you please confirm this?

Thanks,
Leon

I have been thoroughly testing the new paypal bank feeds this evening. Thus far, very impressed.

At first I experienced the issue Leon mentioned above, where each sale payment had to be manually edited to adjust the fee before I was able to reconcile the transaction. I then discovered (with the help of the wonderful Saasu help desk) that it worked much better if the sale didn't have a payment against it at all. Saasu was able to match the amount to open invoices and then automatically create the fee on the fly when I confirmed the match - very nice....

This won't always work though since we often must provide invoices to customers with zero outstanding, therefore manual entry (or import from onesaas) of the payment at time of sale will be necessary.

Another small bug is that when the paypal fee is entered manually, a dialog box appears saying "Warning: You have entered a fee with a positive amount. Normally this should be a negative amount. Are you sure?" Yet when I enter the fee as a negative amount it actually increases rather than decreases the net payment.

Teething issues... overall I'm absolutely wrapped this will save an enormous amount of time for many of us.

Cheers,

Andrew

In your bank account setup you select the expense account to appy fee transactions to. I guess we create a new account here that is not linked to the BAS generation

Just processed almost 100 transactions through PayPal and went through well. Good to have the PayPal fee recognised as expected and PayPal account all balanced up.
Now for phase 2 (some time in the future). It would be great to be able to process the transactions coming through PayPal as Cash Sales - i.e. without having recorded the sale previously. Take the Contact from the PayPal transaction and determine the account using Bank Rules. Would need to have visibility of all the PayPal data and be able to place rules based on that.
It's great to have this much for now.

The current system for Paypal fees does not allow them to be tagged and so removes the ability to track them for a certain aspect of the business.

Is there a way around this at the moment? Has this been raised before?

I'd be interested to hear people thoughts.