Saturday, April 2, 2011

QuickBooks Integrates with Paypal!

My company uses Quickbooks Online as the accounting system. It works great for us.  We have an offsite book-keeper who bills about 10 hours a  month. We see her about three times a year when we have her in discuss our overall accounting system, list of accounts, and methodology. Also control but that's another topic. We also have a CPA who oversees the whole thing and does our taxes but that too is another topic for another blog.

The key to our efficiency is that we try to make everything an automated download with memorized transactions so that once classified, it gets entered in the books the same every month. 

Our credit card transactions (expenses) all get downloaded and automatically entered. Our checks are written in Quickbooks and automatically entered. The one area where automation has been less than optimal has been our integration with PayPal.  We essentially download our monthly transactions as a .cvs file and then upload it. Kludgy, clunky, and annoying. 

Last week, when I entered into QuickBooks, I was thrilled to see the announcement that the integration is now complete between PayPal and QuickBooks. Thanks Payne Weber.  (An old inside joke).


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