The connection

1. Information

With the connection between PayPal and Exact Online, the PayPal transactions are automatically processed as bank entries in an Exact Online bank journal. Invoices from the webshop can easily be matched with the bank entries. The transaction fees are sent to a different general ledger account for further processing. In this tutorial, we will describe the steps to set up and activate the PayPal - Exact Online connection.

Benefits:

• Import PayPal transactions automatically into an Exact Online bank journal,

• Transactions will be imported daily,

• Process your PayPal transaction in the same way like you are used to with regular bank connections,

• Import historical PayPal transactions (from up to 3 years back)

• We can handle multi-currency PayPal accounts without a problem,

• Automatically split transaction amounts and transaction costs as separate journal entry lines,

• Optimal matching with invoices, you determine which fields are filled in the transaction description,

• This connection is certified by Exact Online, and can be found in the App Center - click here for more information!

• This connection works for the Dutch, Belgian, and German Exact Online environments. The UK environment is still under development.

The manual consists of the following sections:

2. Fees

The costs for this connection consist of one-time feest and monthly recurring fees. All fees are calculated by connection.

One time costs:

Recurring monthly fee:

• fee depends on the number of transactions of the given month. These are calculated by us at the end of each month.

You don't have to choose the tier. The number of processed transactions per month determines the monthly fee. We will send you an invoice each month. 

• The contract will last for one year. After the first year it can be cancelled monthly.

3. Sign up for the connection

To sign up for this connection please use this link (currently only available in Dutch) Registration form PayPal connection

Setting up the connection:

4. Setup up the connection

To give the connection permissions to your PayPal transactions, we are going to create an API client in PayPal. Then, we are going to give the API client the right to read the PayPal transactions. At the end of this step, we will have an API Client (which consists of two codes, the Client ID and Client Secret). We need to save these and enter them into the Databrydge platform later.

Create the PayPal API Client

• Navigate to https://developer.paypal.com/developer/applications. You will see the following screen:

  Open

  

• At the top right corner, click: Log in to Dashboard

  Open

  

   

• You will get to the login page of Paypal. Log in here with your PayPal account.

• After you have successfully logged in. You will see the following screen:

• Click on: Live

   

• Click on: Create App

   

• Fill in the following

  • App Name: Databrydge

• Click on Create App

• The Client ID is now registered. 

Getting the PayPal API Client ID and Client Secret

• We are now going to retrieve the API Client ID and the Client Secret. Navigate to the website again: https://developer.paypal.com/developer/applications

• Click on: Live

   

• You will now see the following screen. Click here on Databrydge under the App name

• You will now see the following screen. Here, click on Show

• The Client ID and Client Secret are now visible.

  • The Client ID and the Client Secret will be needed later. Copy and paste them into a notepad or word document.

Give the API App the right to read the PayPal transactions

• Scroll down until you see the following:

   

• check Transaction Search.

• Click on SAVE:

   

5. Settings in Exact Online.

For this, a basic knowledge of Exact Online and/or accounting is a prerequisite. If you need help with these settings, you can ask your accountant. If you would like us to help you, please contact Rsult-IT B.V. (see chapter 9).

Creating General Ledger Account(s)

• Log in to Exact Online: https://start.exactonline.nl/docs/Login.aspx

• Click on your administration name in the top left corner → then on "Master data"

• Go to "Financials" → "G/L Accounts"

• Click on “New”

• Fill in the information below and click on “Save”.

General ledger account 1: for the bank account

Make sure to fill in at least the following information:

General ledger account 2: for the unallocated amounts

General ledger account 3: voor de PayPal transactiekosten

Do you have multiple currencies in your PayPal account?

Then repeat the steps for the general ledger accounts 1 and 2 for each currency. For example, if you are using the currencies EUR, GBP, and USD, the setup of the general ledger accounts could look like this:

Creating bank journal(s)

• Log in to Exact Online: https://start.exactonline.nl/docs/Login.aspx

• Click on your administration name at the top left → then on "master data".

• Go to Financial → “Journals”

• Click on the arrow that points down next to the "New" button → then click "Bank"

• Fill in the following fields as follows:

6. Settings in Databrydge

• Navigatie to the Databrydge platform: Databrydge

• Log in with your email address and password that you received by email from Databrydge

You will get to the following screen:

Click on: ONBOARDING

You will then see a pop-up like in the picture below:

Please enter the following information here, please follow this order:

1. Connection name: Enter the name of the link e.g. YOUR ORGANIZATION - PayPal - Exact Online,

2. Synchronization Start Date: Enter the date from when you would like the connection to synchronize the transactions from PayPal to Exact Online (up to a maximum of 3 years back). Make sure you use the correct date, as change afterworths is only possible by manual change in the backend by a developer (cost of change € 75,-).

3. Reseller: Select Databrydge,

4. Organisation: Select YOUR ORGANIZATION,

5. Package to connect: select first PayPal en then Exact Online

Click on:

You will get to the following screen:

Click on:

PayPal/Credentials and select: Create New credentials

You will get like following picture:

Fill in the following:

PayPal:

1. Name: use your organization name, if it is too long (max 30 characters), feel free to use a shortened name. We only use this information so you can recognize your credential later.

2. Client Id: Enter your PayPal client id here (which was generated in step 4 of this manuall),

3. Client Secret: Enter your PayPal client secret here (which was generated in step 4 of this guide),

Go to:
Exact Online - Credentials and select: Create New credentials

1. Name: Use your Exact Online email address

1. Country: Select the environment of your Exact Online (the country of exact online account)

You will now be redirected to your Exact Online environment:

• Log in with your email and password

  • On the next page, give the connection the following permissions (check the checkbox):

    • All current and future companies,

    • Yes, I accept the Exact Online App Center Terms & Conditions of Use,

    • Yes, I understand…(etc)

Click on ALLOW

NOTE: If you try to link with Exact Online multiple times using the same account, this will only be asked the first time.

NOTE: A new tab will now open in your internet browser with the following page:

You can close this tab

Now go (back) to the connection tab - here you will now see the button under Exact Online says CONNECTED instead of CONNECT (the connection is connected to Exact Online)

Click on NEXT:

The connection will now start to retrieve the available administrations (divisions) from your Exact Online account. You will get like the following screen:

Exact Online:

Division: Select the division (administration) you would like to use for this connection

Click on NEXT

NOTE: it will now take about 80 seconds before you can continue. In the background, we are now retrieving the data from your Exact Online administration to establish the connection. Namely:

• Bank journals

• General ledgers

You will get like the following screen:

Under the description field selector, you can adjust the default transaction description filed order. This order will be used to generate the description of the bank entry lines.
We recommend starting with the default transaction description order, this will work for most customers.

Now we will assign the PayPal currencies to the Exact Online bank journals and general ledger accounts. Click "ADD ROW" for each currency you would like to use:

Example:

• EUR & USD

  • For each currency, please fill in the BANK JOURNAL, UNALLOCATED G/L and FEES G/L,

    • BANK JOURNAL: This is where the PayPal transactions come into Exact Online,

    • UNALLOCATED G/L: This is the general ledger account where the PayPal transactions come into Exact,

    • FEES G/L: This is the general ledger account where the PayPal transactions fees come into Exact,

An example of how the currency configuration should look like for two currencies, EUR, and USD.

• Click on FINISH AND ACTIVATE

The accounting process and useful information

7. The accounting processing

This section explains the accounting process for processing the PayPal transactions in the accounting system. The accounting process takes place entirely in Exact Online. Therefore it is not necessary to log into PayPal or Databrydge.

1. Every morning PayPal transactions, the PayPal transactions will be available automatically in Exact Online.

2. You can find the transactions in Exact Online via the menu: Financial → Banking and Cash → Statements → To be completed. In case you don't see the transactions, check the filters at the top of the page and press refresh.

3. By using the "Automatically" button, you can start the automatic matching process in Exact Online. Exact Online will compare the PayPal transactions with the open sales invoices and allocation rules.
   
   

    

4. Check any unassigned lines and assign them to the correct general ledger account.

8. More information about the Databrydge Platform

The connection dashboard:

• Go to your dashboard - click on the name of your connection

You will get:

On this page, you will see the following:

RECENT TASKS:

• The tasks that run such as:

  • Getting data from PayPal

  • Getting data from Exact Online

RECENT LOGS:

• The (error) messages that occurred

The automatic synchronization:

No work is required on the Databrydge Platform for the administrative process of processing PayPal transactions. The connection will automatically synchronize the PayPal transactions each day a 08:00 around 08:00 in the morning. Each day, all the PayPal transactions of the previous day will be synchronized to Exact Online.

Manual synchronization:

It is possible to start the synchronization of the PayPal transactions manually.

Go to your connection (and log in if needed): Databrydge

You will now see the dashboard with your connection(s):

• Click on the button "RUN".

  • The connection will now process the PayPal transactions that are available to retrieve.

9. SUPPORT

This article was prepared in collaboration with our sister organization Rsult.

Do you still have questions about the connection? please contact us via our support:

• For technical issues, please contact Databrydge via the Support Portaal,

• For accounting settings or questions, please contact Rsult via email: support@rsult.nl (additional cost)

10. Tips & FAQ

10.1 What do the PayPal transaction codes mean?

PayPal uses a 5 digit transaction code (Txxxx) to indicate the type of the transaction. In the transaction rules in Exact Online you can find these transaction codes along with a short description. A full list of available transaction codes can be found on the PayPal website: PayPal - Transaction Event Codes

10.2 Is it possible to automatically assign other transaction types to a general ledger account?

For other transaction types on your PayPal account (such as transfers to and from your bank account), PayPal has different transaction codes. Using the Exact Online functionality "allocation rules" and these transaction codes, it is often possible to create an allocation rule in Exact Online. This makes it possible to automatically assign the transactions to a certain ledger account.

10.3 How does the automatic debit of sales invoices work?

The transaction description from PayPal is compared by Exact Online with the open sales entries and sales invoices from Exact Online.

If you are using sales journals in Exact Online then the matching works when there is a match between on the one hand the sales booking fields "Your ref." / "Payment reference" and on the other hand the PayPal transaction line description.

If you are using sales invoices (Exact menu: sales → invoices → overview) in Exact Online then the matching works when there is a match between on the one hand the sales entry fields "Payment Reference" and on the other hand the PayPal transaction line description.

10.4 I get the message "PayPal: The transactions of [Date] are not yet available at PayPal", what does this mean?

The PayPal transactions can take some time to be available for us to retrieve and use. When we find that we cannot retrieve all transactions of a day, this message is displayed. We will automatically try again the next day. If you want to try again sooner please log in to the platform and start a "manual synchronization".

10.5 I get the message “PayPal: Bank journal with code PAYPALUSD supports EUR currency. Bank journal with USD currency is expected

There is an incorrect setting in Exact Online. The wrong currency has been set. Please adjust this in Exact Online. (See step 5 of the manual)

10.6 Do you offer support for customizing the transaction descriptions?

Support on adjusting transaction descriptions falls under accounting settings. For accounting settings or questions, please contact Rsult via mail: support@rsult.nl (additional cost)