Quickbooks maker Intuit has launched a new app that allows users to sync their PayPal and Quickbooks Online accounts together. Dubbed Sync With PayPal (for obvious reasons), it’s intended to streamline the activities of Quickbooks Online users, allowing them to automatically update their accounting information with data harvested from their PayPal accounts.
PayPal remains the world’s largest and most popular online payment processor, boasting more than 165 million active users as of the first quarter of 2015, according to Statista.com. Of course, there’s good reason for this trend: PayPal is simple, easy to use, accepted at thousands of different stores, and it’s free to receive money. It only makes sense for Intuit to leverage the power of PayPal by integrating it into Quickbooks Online.
It’s estimated that nearly 1 out of every 4 Quickbooks users also uses PayPal. Up until now, these users have been forced to manually transfer PayPal data to their Quickbooks account. While this wasn’t necessarily difficult, it was still time consuming and tedious, whic his why Intuit has taken steps to simplify the process with its Sync With PayPal app.
Roughly 25% of Intuit Quickbooks users use PayPal and now they can use an app to import PayPal sales and transaction data directly into QuickBooks Online in real time. It’s called Sync with PayPal.
Sync With PayPal is currently only available to Quickooks Online users in the U.S. However, Intuit said it has plans to launch the app in the U.K., Australia and Canada by the end of the year. The app uses Intuit’s API capabilities to include both PayPal and Square as payment processing sources.
“Say goodbye to manual entry and hello to more time in your day with Sync with PayPalTM for Intuit QuickBooks Online. The Sync with PayPal app for QuickBooks Online is free and getting started is easy. How you choose to spend the hours you’ll save – on your business, your family, or yourself – is up to you,” wrote Intuit.
What do you think of Intuit’s new PayPal app?