Payment Processors(PayPal, Stripe, or Square) maintains your funds(balances) and acts as a bank. It is recommended to use the clearing accounts in QuickBooks to record the sales & expense transactions instead of using Checking(Settlement) Bank Account.
Clearing Account (Sales Settings)
We recommend configuring a clearing bank account in Sync Settings for "Bank Account to deposit your sales/income" to process your sales from PayPal, Stripe, or Square. This clearing bank account acts more like a bank account, but it records the processor fees, subscription fees, refunds and expenses
Create a separate clearing bank account like PayPal Bank Account, Stripe Bank Account or Square Bank Account in QuickBooks or assign it in PayTracker (If it does not exist in QuickBooks, PayTracker creates automatically)
PayTracker will create SalesReceipts, Payments, Fees, and Expenses with the given clearing account.
Checking/Settlement Bank Account (Payout Settings)
The checking/Settlement bank account holds the final consolidated payout received from Payment Processors. You need to configure the Checking/Settlement Bank Account in Payout Settings for "Transfer the sales to this account"
PayTracker will create a transfer transaction to move the balance amount from the given clearing account to the checking/Settlement bank account.