- How to categorize PayPal Expenses in QuickBooks Online
- Example of the categorization rule for expenses
1. How to categorize PayPal Expenses in QuickBooks Online
We have introduced Synder rules to help you categorize your expenses to different account. Using this tool you will be able to categorize your PayPal expenses in QuickBooks Online automatically, so no manual editing is needed any longer. By adding specific conditions you may differentiate between your expenses and apply them to different accounts.
Note: The overall flow contains 2 steps: create the rule -> apply it to the settings of a particular company
1. Where do I find the feature for PayPal expense categorization?
Go to categorization rules tab and then switch to create rule tab
2. How do I set different accounts for different expense types?
You need to apply rules to categorize your outgoing expense transactions, based on the information in the transaction.
3. How to create a rule?
From the categorization rules tab, click on create rule (1). Type a name for your rule (2) and conditions.
4. What condition can I set?
There are several fields you can set conditions for: description, total amount, vendor name or transaction memo. Click drop down menu to see these options. (1) Choose the field needed (2) the value that the app will look for in your transaction and set values (3). You may add several conditions in one rule (4). Click on save (5) to accomplish the process.
Once the rule is created you can apply it to the expense settings of the company needed and specify expense category from the dropdown (your Chart of Accounts).
5 . How can I apply the rule?
Go to settings tab on the top of the screen.Choose your PayPal expenses (1) and click on add rule to account (2).
From the drop down menu choose the name of the rule (1) you want to apply and set the account (category) you want your expenses to go to (2). Please, do not forget to update setting (3)
- From the categorisation rules tab (1)
- Switch to apply rules (2).
- Choose the QuickBooks company you want to apply rule (3)
- Set your PayPal account (4)
- Choose Expense form the drop down menu (5)
- Find the rule you have created earlier (6)
- Set the account you want the expenses to go to (7)
- Save rule (8)
2. Example of the categorization rule for PayPal expenses
Let’s say you want to categorize your travelling expenses under special account. With creating a rule you may filter all your expenses and direct them to the account you need. For example you want to create a rule called “Travel Exp. Rule” for all transactions more than $100 with description containing words “ticket”, “plane”, “travel” or “train” go to your “Travel” expense account in QuickBooks.
Follow the instructions below:
After you choose the field total amount (1) and operand greater or equals (2), set the amount value 100 (3) click on create new condition (4) to add second condition on description. Choose description that contains words “train” and ‘travel” and Click minus icon if you want to delete condition (5). Save the rule (6).
Now you want to apply this rule in Expense settings (1) and specify account (from Chart of accounts) needed (2).
Congratulations, you did it!
Can I change the rule after it is saved?
You may always update the conditions of your rule. Chose the rule you want to update and click on Edit button.Do not forget to save changes
If you have any questions regarding the categorization of PayPal Expenses in QuickBooks Online feel free to ask our specialists in the online support chart of the app, call us or use our support email specified in the footer of the page.