PayPal CSV to QBO: Net vs Gross, Fees and Mixed Currencies

Map PayPal activity using Net amounts and check currencies before creating a bank-feed file. This guide follows the actual controls and output of CSV2QBO, so you can distinguish a completed file conversion from a verified import.

Prepare the right source

The suggested mapping uses Date, Name and Net. Net represents the amount after the Fee column in the illustrated export. Transaction ID is available for stable transaction identity.

Work with a copy covering one account and a known date range. An export from a bank or finance application is preferable to a manually reconstructed table because it gives you an original to compare. Never rename a PDF or a company backup to a different extension and expect its contents to become transaction data.

Convert and review

1. Open the PayPal CSV to QBO Converter. Use Download sample file or the sample button first if you want to inspect the workflow with fictional data.
2. Choose the original csv file. The converter reads it locally. Keep an untouched copy for comparing counts and values later.
3. Confirm the date, description and amount mappings. Use either a signed Amount column or separate Debit and Credit columns. Set the date order explicitly.
4. Inspect the preview and resolve any errors. Read and acknowledge format limitations when they appear, then download the qbo output.
5. Compare the downloaded file with the original before importing it into your destination software.

What changes in this format

Gross, Fee and Net are different accounting views. A net-only bank feed records the movement in the PayPal balance; it is not a separate revenue-and-fee journal. If you need that journal, prepare the allocations explicitly.

Worked example: verify the meaning, not just the extension

A PayPal-style receipt with Gross 1260.00, Fee -10.00 and Net 1250.00 changes the balance by 1250.00. Mapping Gross would import 10.00 more than that movement. A separate fee expense requires a deliberate bookkeeping allocation; it is not created by choosing Net. An EUR row and a USD row must not share one QBO currency label.

Set up the destination

QBO requires a statement closing balance. Enter the actual balance at the end of the exported period; do not substitute the net movement of the selected transactions. An OFX-family source can supply its existing ledger balance. The downloadable examples use known fictional balances.

For QBO output, review the bank ID, account ID, account type, currency and institution ID. Selecting a currency does not convert exchange rates. The file contains transactions, not a complete company backup. QuickBooks editions and institutions may apply additional requirements; use Intuit’s current upload guidance when choosing the receiving workflow.

Common mistakes to avoid

Mixed currencies are blocked on this page. Export or filter one currency at a time and choose the matching account currency. The tool does not convert exchange rates, infer completed status or remove refunds and reversals for you.

An invalid date or amount blocks export rather than quietly removing a transaction. If an error names a record or source row, correct that record in a copy of the source and load it again. A date that is valid in two different orders still needs your explicit choice. Check a date whose day is greater than twelve to confirm the source convention when such a row is available.

A final comparison before import

Compare the first and last transaction dates, the number of main transactions, the total money in and the total money out. Inspect at least one refund or reversal when the source has one. A matching net total alone is insufficient: two errors with opposite signs can cancel each other. Keep the source and output together until the destination has been checked.

The local file limit is 5 MB, and supported financial inputs are bounded to 50,000 records. The destination software may allow less. Files remain in your browser; no account is needed, and no conversion file is stored on CSV2QBO servers.

Use PayPal CSV to QBO Converter or explore the other converters. For a related workflow, review a QBO as a spreadsheet.