PayTraQer - Expenses Settings
To access the expenses settings, click the settings icon located on the top right corner of the PayTraQer Screen.
Configuration for Expenses 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.
PayTraQer syncs your expense (Money out) transactions made via the payment systems (PayPal, Stripe & Square) and records them as EXPENSE Transaction in QuickBooks Online.
1. Bank Account
Select the required Bank Account account to apply the expenses.
Recommendation: It is recommeded to use the same Bank account mentioned in Sales Settings.
2. Category Account
Set the required category account to track the expenses paid via payment systems (PayPal, Stripe & Square).
3. Enable Common Vendor
If you don't want to create vendors in QuickBooks Online as exactly as Payment Systems, you can enable this option to record all your expenses to have a common Vendor.
4. Common Payee/Vendor
Set the default vendor to record the expenses properly in QuickBooks Online.
Recommendation: Try to use the name as PayPal, Stripe or Square for better reports.
Record your expenses with selected CLASS, if you want to track classes for your transactions.
6. The Inclusive Tax for Expenses
Configure the Tax Code to add the inclusive tax for your expenses
Applicable only to Global QuickBooks Online Versions
Related Articles - PayTraQer Settings:
Sales Settings: Configure Sales related fields like a bank account, customer, etc.
Products Settings: Create/sync the products/services automatically without any manual effort in QuickBooks Online.
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.
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.