Saasu communicates with PayPal via an API. An API is a way for applications to talk to each other on the internet. PayPal business accounts have an API. It’s easy to connect your Saasu file to PayPal immediately.
PayPal Feeds will only connect to accounts in the same currency as your base file currency. E.g. You have a file in USD, you can only form connections to PayPal accounts in USD currency. See our multi-currency help section for more information.
How to match PayPal Feeds, including fees
Watch this tutorial on how we recommend you handle PayPal in Bank Feeds. Automatically downloaded data will incorporate the fee component, whereas manually imported data will not. Automatic data does not include: foreign currency transactions, bank transfers or eCheques.
How to connect to PayPal Feeds
- Go to View > Bank Account.
- Click on the Paypal Account in your Bank Account list.
NOTE: If you haven’t set up a Bank Account yet for Paypal follow do Setting up a Bank Account first.
- Click on Enable automatic Bank Feed.
- Search for “PayPal” in Please Select Your Bank field.
- Enter your credentials in the Connect to My Bank screen.
NOTE: If you don’t have your PayPal credentials follow the steps in the next section below
- Check “I accept the terms and conditions”
- Click the Connect to Bank.
Finding my PayPal credentials
- Sign into your business paypal account
- Click the activity tab across the top of your screen
- Then under Operations Heading click API access
- You are now on a page called Your payment API credentials
- Scroll the last heading on this page called “Accept or block payments from your online stores before setting up APIs.”
- If you’ve not done so already you’ll need to tick “Accept Paypal payments before API permissions or credentials are set up.” and Submit
- If you’ve already done the above then the heading you’ll see the following words in blue Manage PayPal checkout settings and click it.
- You will now be on the View or Remove API Signature screen. The credentials you will need to connect to PayPal are:
- API Username
- API Password
- Enter these credentials in the Connect to My Bank screen, check “I accept the terms and conditions” and then click the Connect to Bank.
If you are getting the following error:
Unable to reconcile transaction. Sorry, we cannot reconcile the transaction because the bank feed amount does not match the transaction amount
It may be that your invoice was previously marked as paid, without accounting for the PayPal fee. If this is true, please follow these steps:
- Check if you can you delete the invoice payment, by going to the original invoice > ‘Edit’ payment screen, delete payment if it is a single payment, go to step 2. Do not delete if there are multiple payments, go to step 3.
- If you can delete the payment, then once the invoice is back in ‘Unpaid’ status you can easily match it in Bank Feeds tool.
- If you cannot delete the payment, you need to action a number of steps as follows.
- Manually work out what the PayPal fee is via the Bank Feed entry, then delete the entry from Bank Feeds noting that you are not deleting the payment as it was already added to the invoice manually.
- Add > Journal to account for the PayPal fee. Check with your Accountant if you are unsure which ledger accounts to use for credit/debiting.
- Reports > Bank Reconciliation to locate both the invoice and the PayPal fee (they will appear as two separate entries) and once located, tick the boxes on the left to confirm it has been reconciled.
Note: because of the need to account for PayPal fees, going forward if possible, do not mark PayPal invoices as paid until you have the bank feed entry available so you can easily account for the fee.
What we don’t Import
The types we don’t import are:
The status of transactions we don’t import are: