by | Jan 20, 2021 | Uncategorized | 0 comments

Introducing PayPal – NetSuite Payout-to-Reconciliation Business Process Application

by Sarah Kyo
January 20, 2021
PayPal is one of the most widely used digital payment systems in the world, processing bank transfers and credit, debit, phone, and in-person payments for online and brick-and-mortar sales. In one of its strongest quarters, the company had a Q3 2020 total payment volume of $247 billion. [1]

When it comes to commerce, leveraging a highly popular payment gateway, such as PayPal, can help increase your conversion rates: For example, a study found that a PayPal checkout conversion averages 60% better than other digital payment methods and 82% better than all payment types combined. [2] In other words, it’s a no-brainer for your business!

Keep in mind, though, that the greater your payment gateway utilization across different sales channels, the more payout transactions you will need to reconcile. Depending on your sales volume, your accounting team will need to spend painstaking hours double-checking sales order transactions against PayPal payouts. This manual process can become very costly and easily translate into thousands of dollars in accounting resources every month.

Today, we are alleviating some of that burden for your back office by introducing our new PayPal-NetSuite Payout-to-Reconciliation Business Process Application (BPA). 

Streamlined Payout Reconciliation

Celigo’s Payout-to-Reconciliation BPA automates reconciliation between PayPal payouts and NetSuite, streamlining accounting processes.

Now, your accounting team can start saving time and costs by eliminating the need to manually reconcile every single PayPal transaction. Other benefits of our Payout-to-Reconciliation BPA include:

  • Speeding up the month-end closing process
  • Improving cash visibility
  • Identifying any discrepancies and unsettled amounts instantly
  • Raising any disputes sooner with PayPal

What Does This App Do?

Here’s how this app works: It downloads the payout or settlement transactions from PayPal and matches them against the outstanding payments and refunds in NetSuite. If a transaction amount in NetSuite does not match with the PayPal transaction value, or if a transaction is not found, variance transactions are created in NetSuite.

Get to know the features of our new BPA by watching the on-demand webinar, Introducing Automated PayPal-NetSuite Reconciliation.

How to Get Started

To learn more about this new app, visit the PayPal – NetSuite Payout-to-Reconciliation BPA page. You can also contact us now to speak with one of our integration experts.

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