QB Issue Resolution:

Hi again,

 

I wanted to post the answer here for others who may be experiencing the same problem. I talked with Denise via Quickbooks phone support and she was so helpful. Here’s what we did to fix the problem.

 

1) Click on Invoicing on the left menu, then Products and Services, then click on the New green button and select to add a new Service.

2) On the New Service screen, give it a Service Name and select the Income Account from the dropdown list (this should be your chart of accounts so you can select the Income Account you want for all PayPal Sales transactions). Save your new Service.

3) Now click on Banking, and find your PayPal Bank, then click the Edit pencil icon and click Edit Settings. Edit Sales to be your new Service from the dropdown list, and save.

4) Go back to Banking and select your PayPal Bank and refresh the page, and you will see that all PayPal sales transactions are now listed with the Income Account as the new Service you created above (which is one of your income accounts in your chart of accounts).

5) If you want to change the PayPal Sales Income Account for specific transactions, you would need to repeat this process by adding a new Service then editing the settings on the PayPal Bank app again to be the new Income Account. You can switch the Income Account on the PayPal Bank for different transactions before adding to Quickbooks.

 

Resolution for Issue 'How can I change the Income Account for PayPal sales transactions to be the Chart of Accounts? Clicking on the PayPal App Actions/Settings did not take me to Settings. I followed this article, but clicking on the PayPal App Actions/Settings took me to the Banking area, not the App Settings. https://quickbooks.intuit.com/learn-support/en-us/product-preferences/modify-settings-for-sync-with-…' available: Yes (Solved).
Source: Intuit Community forum.

How can I change the Income Account for PayPal sales transactions to be the Chart of Accounts? Clicking on the PayPal App Actions/Settings did not take me to Settings. I followed this article, but clicking on the PayPal App Actions/Settings took me to the Banking area, not the App Settings. https://quickbooks.intuit.com/learn-support/en-us/product-preferences/modify-settings-for-sync-with-…: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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