Rental payments entered and Quicken captures the tenant as "PayPal" ...

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gerbera.daisy
gerbera.daisy Member ✭✭
edited December 2022 in Business and Rental Property Tools (Windows)
Ok, I don't know why this message appears in place of my question, "There was an error rendering this rich post." Trying again...
I have 2 tenants I receive rent from via PayPal. The October rent payments are captured as a Tenant named "PayPal" rather than posting to the actual tenant. It's as if Quicken created the tenant. I cannot edit, it does not show up in the tenant list nor in the transaction register of the bank account associated with the payments. I've posted a screen shot of what Rent Center looks like. Thanks in advance for any guidance on what's going on here.

Answers

  • gerbera.daisy
    gerbera.daisy Member ✭✭
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    Trying to post a screenshot of the Rent Center
  • UKR
    UKR SuperUser ✭✭✭✭✭
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    Which bank account register is used for processing the downloaded transaction? Your bank checking account or a separate "PayPal" account register? AFAIK, the actual PayPal account register would (should?) contain the true Payee Name.
  • gerbera.daisy
    gerbera.daisy Member ✭✭
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    > @UKR said:
    > Which bank account register is used for processing the downloaded transaction? Your bank checking account or a separate "PayPal" account register? AFAIK, the actual PayPal account register would (should?) contain the true Payee Name.

    Chase is the bank account where deposits & transfers from PayPal, Venmo, etc are made. I don't maintain an account register for these cashApps.
  • UKR
    UKR SuperUser ✭✭✭✭✭
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    gerbera.daisy said:
    Chase is the bank account where deposits & transfers from PayPal, Venmo, etc are made. I don't maintain an account register for these cashApps.
    Has this changed ever since Chase made you reauthorize your account(s) during the migration from Direct Connect to Express Web Connect+?
    Not being a PayPal user myself, I can only guess that Chase only gets the PayPal name for every deposit or withdrawal made by PayPal. I mean, it's PayPal sticking their fingers into your checking account, not the real payee. For real payee names you would have to look at or download directly from PayPal.
    Alternatively, when those rent deposits are due, record them into your Checking account BEFORE you download transactions from Chase. These transactions will have the proper Payee Name, etc. When the rent deposit arrives in the download, Quicken will match the download to the already existing register transaction without a problem.
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