QBO+PayPal
To simplify the time from invoicing to cash collection, PayPal and Intuit are announcing a partnership allowing QuickBooks Online users to accept transactions from PayPal’s customer accounts nation-wide and reconcile those transactions within QuickBooks. The product integration will be available for QuickBooks Online customers in the U.S. by the end of 2016.
Vinay Pai, vice president and head of the Intuit Developer Group said, “We are thrilled to partner with PayPal to help small businesses and the self-employed get paid faster and easily manage their books. This is a great example of the power of the QuickBooks platform.” Vinay went on to say, “By delivering deep integrations with leading solutions like PayPal, we’re giving our small business and self-employed customers the ability to get paid faster and seamlessly connect all of the data that flows in and out of their business.”
For merchants, this partnership enables them to manage their business and receivables more effectively. Using QuickBooks Online e-Invoices, customers will now be able to pay via PayPal Express Checkout. By simplifying the e-Invoicing transaction, customers will be able to pay in the same fashion that they make many of their other online purchases.
Sending eInvoice with Payments
In addition to helping QuickBooks customers get paid, the partnership simplifies accounting by automatically importing PayPal transactions directly into QuickBooks. Key benefits for small businesses include:
- Save time by seamlessly importing PayPal payments and fees into QuickBooks; removes need for manual entry and saves small business owners’ time.
- Simplify tracking of unpaid invoices because invoices are automatically marked “paid” when a customer pays via PayPal
- Update data by ensuring valuable customer information is up-to-date in one convenient place by automatically syncing customer information from PayPal into QuickBooks.
- Securely downloads other transactions, such as expenses and bank transfers, into default categories within QuickBooks.
- Improve accuracy by eliminating manual data entry errors and helps increase accuracy through automatic imports.
“Both Intuit and PayPal are committed to helping our customers grow and succeed. With this extension of our partnership, we’re excited to empower small businesses with access to the tools they need to get paid faster,” said Steve Fusco, VP & GM NA Distribution, PayPal. “In minutes, small business owners can create an invoice in QuickBooks Online and customers can pay with credit cards, debit cards, and now, with PayPal. This is a huge win for small business owners and accountants who want to improve cash flow management and save time.”
We think you will agree, using PayPal with QuickBooks Online just makes sense. This new integration will help insure that QBO users get paid faster, while at the same time assuring their accountants, bookkeepers or ProAdvisors that the accounting side of the equation is accurately reflected each and every time. Way to go, QBO!