Congratulations on setting up A2X for PayPal!
Before you post your first statement(s) to the connected accounting ledger, ensure the following steps have been completed.
You have connected PayPal and your accounting ledger to A2X for PayPal.
Compare your PayPal statement balance as at last month end to the balance shown on the PayPal home page.
Load additional PayPal statement history if needed.
Decide on the date you wish to start using A2X for PayPal. We recommend making this change on the first day of a month or first day of the quarter.
Ensure you have disconnected the PayPal bank feeds (if applicable) in your accounting system as at the last day before A2X for PayPal starts syncing statements.
Ensure the new PayPal bank accounts are set up (for Xero) and the opening balances are set up and agree to the closing statement balance for the prior month.
Configure Accounts and Taxes by using assisted setup or custom setup, and allocating general ledger codes and tax rates for each PayPal Category.
Ensure the PayPal movement category has been updated for the specific general ledger accounts that you have set up for each PayPal currency wallet.
If QBO is the connected ledger, ensure you have configured the actual bank account for the following categories: Deposits and Credits and Withdrawals and Debits.
Consider if you wish to update any settings such as enable supplier detail or add classes / tracking categories.
Ensure you have all PayPal currencies set up in your general ledger. You can see a list of currencies in use by PayPal in the Statements page by dropping down the filter for currencies.
Post no more than 3 to 4 days to your connected accounting ledger. View the 'accounting transactions' report all of the accounts you have setup in Accounts & Taxes to ensure the transactions are posting as expected.
Reconcile all clearing accounts associated with A2X for PayPal. You can work through the expected behavior of each clearing account by reading each of our articles by PayPal Category.