PayPal is one of the largest online payment processors in the world. With nearly 200 million active customers and available in more than 200 markets around the world, it’s an obvious choice for online merchants for accepting and making payments. At Zoho Books, we’ve made a new enhancement to the reconciliation process with automatic PayPal feeds that we think you’ll love.
The new PayPal integration fetches all of your transactions into Zoho Books automatically on a real-time basis, eliminating the risk of missing out on any financial activity. Read on to learn more about our latest integration.
Connect, retrieve, and reconcile
We know how much you value staying connected with your finances. Any time there’s a small transaction with the bank, you prefer to be notified immediately in an email or through SMS. Our latest PayPal integration retrieves all your transactions, keeping your Zoho Books account updated, all the time. These transactions can later be matched and categorized to keep you tax- ready.
Import multi-currency transactions
A business is as good as the customers it serves. Why restrict your customer base to one geographic area? With Zoho Books’ support for multi-currency transactions, the latest integration complements your global aspirations — now you can make and accept payments in foreign currencies. All of your multi-currency PayPal accounts can be set up in Zoho Books, and the individual currency’s transactions can be tracked in separate ledgers.
See all your transactions when you need them
Let’s say that you give your books to an accountant a month before the tax filing date. It can be overwhelming for the accountant— to first retrieve the past transactions and then categorize them. The integration fetches PayPal transactions for the past 90 days, making one less task for your accountant. Once the transactions are retrieved, categorize and reconcile them with a few clicks of the mouse.
Stay secured with ‘OAuth’ authentication
The OAuth authentication technology doubles the security layer offered by Zoho Books and PayPal, so you don’t need to worry about your data’s safety. OAuth pulls transactions into Zoho Books only after you enter your credentials on a PayPal login page, limiting the number of apps with access to your password.
With this integration, our PayPal users can feel at home — secure, relaxed, and in control. So, take it for a spin and let us know your thoughts by leaving a comment below, or sending us an email at support@zohobooks.com.
Note: The feature is not for businesses from India, Israel, Japan and Brazil.
When accepting payment for an invoice, does it open virtual terminal to log the payment or do I have to open paypal and do it there
Hi Ron, Payments for PayPal will be redirected to PayPal's page. Once the payment is processed, Zoho Books will automatically record the payment. Regards, Varun Head of Marketing Zoho Books
How does Books handle PayPal fees? Are they detected automatically? I’ve had several colleagues get messed up by QuickBooks and wanted to know if Books would be any better.
Hi Matt, Zoho Books handles the fee automatically. It deducts the fee amount in the payment transaction, and lets you categorize it as an invoice payment accounting for the fee amount on the fly Regards, Varun Head of Marketing Zoho Books
Why only 90 days? Ideally should be able to go back as long as the paypal api lets you
Hi JB, Unfortunately, this is a limitation from Paypal's end. We wouldn't mind extending it beyond 90 days once the APIs are opened by PayPal. Regards, Varun Head of Marketing Zoho Books
Great software