It is easier to pay the invoices of QuickBooks when PayPal has been synced. This is a time-saving way of paying your invoices as well as getting them auto-recorded in the accounting software. Users of QuickBooks Self-Employed and QuickBooks Online can avail of this feature. An important requirement is that their accounts should be created on both the platforms as well as be complete in terms of setup.
To pay a QuickBooks Online invoice with PayPal, you need to integrate the two accounts. In the case of QBSE, the settings of the accounting software need to be used. For more clarity, you can see this page.
This post is about the following:
Why should You Pay QuickBooks Invoice with PayPal?
When you are using PayPal with QuickBooks Online or SE, you can find instant assistance for the purpose. You can make manual entries and also see improvement in processes like cash flow.
The below points list the detailed reasons why the users of QuickBooks Pay with PayPal:
Instant Payment Acts as a Convenience
Using the Pay Now tab in the PayPal account, customers can easily pay online instantly through their credit cards or debit cards. They can directly transfer the amount to the bank.
Manual Entry is Reduced
The whole procedure of invoice paying is automatic. All the transaction fees of Paypal, as well as the payments collected for QuickBooks invoices, are automatically recorded in the account you choose.
Time is Saved
A lot of time is saved due to the automatic procedure. Accept Payments with Paypal is a feature that helps your QuickBooks invoices to get recorded and categorized.
Cash Flow is Improved
With the feature of Accept Payments with PayPal, you can get paid with speed. Customers are also sent the invoices as soon as the operation is complete. The payments can also be made straight at that time.
How to Pay QuickBooks Online Invoice with PayPal?
You can pay a QuickBooks Online invoice with PayPal by first integrating your accounts. Both the accounts will have to be synced for accepting payments. QuickBooks Invoices will be directly sent to the customers and payments will also be made straight at that time with the help of PayPal. The transactions will get automatically recorded in your QB account. Also, this record will be categorical to help you easily access the information.
Paying QuickBooks Self-Employed Invoice with PayPal
You can connect PayPal to QuickBooks Self-employed and then start accepting payments through the platform. Once you have synced your accounts, you have to go to the Settings tab and then head to the Bank Accounts option. Then you can pay the QuickBooks invoice with PayPal for the Self-Employed version.
- Select the “Settings” tab in “QBSE”.
- Tap on “Bank Accounts”.
- You need to search “PayPal”.
- If an account has been connected before, push “Connect Another”.
- Pick an account from the visible suggestions.
- Hit “Continue to PayPal” and then move back to the “PayPal” website.
- Sign in to your account on “PayPal”.
- Choose “Connect Securely”.
Tip: You can categorize your transactions in QuickBooks Self-Employed if you wish to.
Your QuickBooks Self-Employed invoice will now be connected to Paypal. You can choose to pay the invoices after this.
Cost Structure for Paying QB Invoices with PayPal
There is a cost structure involved to pay QuickBooks Online Invoice with PayPal. You can find the structure in the table inserted below:
|1.||Data Sync Only||If you only want to sync your data and not pay QuickBooks Online invoice with PayPal, the plan is free||1000000||Free|
|2.||Data Sync + Accept Online Payments||There are no fees charged by Intuit for paying the invoice but a transaction fee will be applied by PayPal.||1000000||Free for QuickBooks but transaction fees of PayPal will be applied|
The feature of QuickBooks pay with PayPal saves your time by automatically sending invoices and receiving payments. It also gives you several features which can help your company to maintain its cash flow. We mentioned the steps for syncing and paying QuickBooks Self-Employed and Online invoices through PayPal.
To get more knowledge about the features and uses of the payment platform, see our blog on the PayPal app for QuickBooks. Also, consider reading our blog on the methods for QuickBooks PayPal integration.