To access the Products & Services settings, click the settings icon located on the top right corner of the PayTraQer Screen.

Configuration for Products & Services settings is common across all the payment channels. For illustration purposes, Paypal settings are shown here. However, the same configurations will be available for Stripe & Square.

Enable this option to automatically create and sync product/services (Items) from Paypal, Stripe, or Square.

PayTraQer brings Name, Description, and rate information from Payment Systems to QuickBooks Online.

Select the Item Type for the auto-creation of Product/Service. PayTraQer creates Items in this category if it does not exist in QuickBooks Online.

Supported Types: Service & Non Inventory

Select this option to set an income account for the auto-creation of a Product/Service. PayTraQer creates Items with this income account in QuickBooks Online.

If you don't want to create items in QuickBooks Online as exactly as  Payment Systems, you can enable this option to record all your sales to a default product/service.

Disable Auto creation of Product/service settings to enable this setting.

Select this option to set a default Item to record all your sales in QuickBooks Online. The Product details from Payment Systems (Paypal, Stripe or Square) will be ignored and the provided item will be used in Invoices and Salereceipts.

6. Products & Services in summarized posting (COGS overview)

In some setups, instead of creating one entry for every single sale, PayTraQer can post summarized entries for a period (for example, one combined entry per day). When you use summarized posting, cost of goods sold (COGS) needs a bit of extra setup so your sales and costs stay in line.

The Products & Services settings you configure here still apply, but COGS for summarized entries is controlled by a separate set of options. Those options decide:

• Which accounts are used for COGS when you post summaries

• How PayTraQer matches items or categories from your payment or e commerce systems to COGS in QuickBooks

If you are only syncing detailed transactions line by line, you do not need to change anything for COGS in this screen. If you want to use summarized posting and keep COGS accurate, use the guides below.

7. Advanced COGS setup for summarized entries

For a deeper explanation of how COGS works with summarized posting, refer to these articles:

• Configuring COGS settings for PayTraQer summary sync

• Configuration of COGS matching for PayTraQer summary sync
  

  These two articles walk through:

• Which COGS accounts to choose for summarized posting

• How to map products or categories from PayPal, Stripe, Square, and other channels to the correct COGS accounts in QuickBooks

Use them when you are ready to fine tune COGS for summary level entries.

Sales Settings: Configure Sales related fields like a bank account, customer, etc.

Tax Settings: Record tax information from Payment transactions (Paypal, Stripe & Square) accurately into QuickBooks Online.

Fees Settings: Record fee information from Payment transactions into QuickBooks Online.

Expense Settings: Payments made to your vendors from Payment Systems can be easily synced with QuickBooks Online.

Payout Settings: Never miss the consolidated payouts/deposits from Payment Systems (Paypal, Stripe & Square).

Automation Settings: Automate and fine-tune the sync processes in PayTraQer.