Sync PayPal transactions related to multiple currencies

If you have a single PayPal merchant account and transact in multiple currencies, the Integration App now converts the transactions into your primary currency and syncs to NetSuite without any variances. The PayPal payout transactions to NetSuite deposits flow fetches the transactions from PayPal and filters based on the specified primary currency.

You can specify a single primary currency code in the PayPal primary currency code setting. Be sure the currency code you enter is a valid option from the PayPal currency codes list.

Note: This optional field is applicable only if you’re a merchant who transacts in multiple currencies in Paypal.

Understand the rate conversion

The PayPal payout transactions to NetSuite deposits flow captures the actual transaction in the foreign currency. For each actual transaction, a duplicate transaction is added in the PayPal currency. The flow further verifies these duplicate transactions using the field PayPal_reference_id, which holds details of the actual transaction and calculates the net amount (that is, transaction_amount - fee_amount). This net amount is compared with the amount in the actual transaction, and the flow calculates the conversion rate. 

Using this conversion rate, the flow further calculates and converts the variance amounts and fee total amounts, as described below. The flow doesn’t sync the duplicate transactions. 

• The fee amount for each transaction (in foreign currency) is converted accordingly to the amounts in PayPal currency
• The total fee amount reported in the Cashbacks tab is a cumulative amount of Transaction Fee (amounts after conversion of foreign currency transactions and the fee amount of transactions, which are already in the PayPal currency) 
• The variance amount of each foreign currency transaction is converted to the PayPal currency
• The transactions in the foreign currency are ignored