Paypal and Quickbooks
We are using Quickbooks 2007. We recently started to sell more items on ebay with the goal of possibly doing some consignment sales.
The problem is that there isn’t an easy way to get your data from paypal into quickbooks. We seem to have a couple of choices.
- Just do a summary each month and do a journal entry into quickbooks
- Enter the paypal data manually
- Create or purchase an app to automatically sync Quickbooks and Paypal.
We found an app that will do the syncronization. We haven’t tested it yet but it does look like it should work and the current price is only $69 or so.
You can find it at http://www.bigredconsulting.com/aboutebaylink.htm
If you are doing paypal, don’t forget to include the fees in your income or corporate tax returns.
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