In this example, I’m using a purchase of flowers. You can see from my Paypal statement that I have a beginning and ending balance of $0.00 In this example, I’m using my personal Paypal account with transactions in both USD and CAD. Name the other file CAD and remove all USD transactions.Name one file USD and remove all CAD transactions.Copy the CSV file so you have two files.Under Category details enter what was purchased with the total equaling the gross from the Express Checkout PaymentĬSV Import Quick Instructions with USD to CAD transaction:.Payee is the company you purchased from.Enter information for the Express Checkout Payment.Create an Expense by clicking the +New button and selecting Expense.
The transfer amount is the Gross amount of the transaction (it will be negative).Enter the first five digits of the exchange rate into the 1 CAD = USD box.Calculate the exchange rate of the transaction by dividing the USD amount of the Currency Conversion by the CAD Currency Conversion.Transfer Funds To account is PayPal – CAD.Transfer Funds From account is PayPal – USD.Enter information for the USD General Currency Conversion.The transfer amount is the Gross amount of the transaction.Transfer Funds To is the account PayPal – USD.Enter information for the USD General Credit Card Deposit.In QuickBooks create a transfer by clicking the +New button and select Transfer.Manual entry Quick Instructions with USD to CAD transaction: I’ll also show you how to enter the transactions from a CSV file. In this tutorial, I’ll show you step-by-step how to manually enter your multi-currency Paypal transactions into QuickBooks Online so that everything matches up. Add in multi-currency and it gets EXTRA confusing. Entering Paypal transactions into QuickBooks Online can be confusing.
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