Setting up PayPal account in Quicken

[KerryKremp]

I read through several of the posts, did a search, but could not find the information I was looking for. In trying to set up an account in Quicken 2010 (not quickbooks), I am asked for my PayPal user ID and password, then it asks for my routing and account number. I've tried inputing the routing number and account number used for my bank account. That didn't work. I tried everything from setting it up as a checking, savings, credit card, asset, and investment. For the last three, it only asks me for an account number. My paypal account is for personal use at a premier level. I tried to download the history - but it can only be downloaded as QIF which my computer wants to import to MS Money.

All I want to do is be able to download the transaction history from PayPal into Quicken so I can keep track of purchases and sales. The more recent posts out there are from 2010 and 2011 pertaining to the topic....and I've seen nothing that has to do with the actual setting up of the account or anything that has to do with routing numbers and account numbers.

What am I missing??

[snowshoe]

Have you searched Intuit?

There's also a few tips here:

http://financialsoft.about.com/od/quickenforbeginners/f/Q_PayPalDownld.htm

[rde]

Being new to the community, I may or may not have found the right topic.  I have managed to succsfully set up PayPal in Quicken H&B 2012.  There are two ways that I have found that (kinda) work, but neither is satisfactory as far as I am concerned.  The most straight forward method is to set up a new checking account.  This works easily in 2012, not sure about 2010 as I never used that version.  Quicken will automatically set up and download the transactions once you input the username and password for PayPal.  The issue with this method is that I only get the "net" of the transactions.  PayPal Fees are not indicated anywhere, so I have to edit EACH transaction to add a split for the PayPal Fee.  This is painful.

The other method is to set up payPal as a "CASH" account in quicken, download the QIF from PayPal and manually import the file.  This way, the splits *do* appear in each transaction.  The issue here is that I have to accept the catagory that PayPal assigns and change it after the fact.  This is not terrible because I can change catagories in bulk or create multple catagories that are really the same thing.  However, Fees do not reliably appear in every transaction, so I'm back to editing almost every transaction. 

Both methods are pretty unsadisfactory and I don't understand why PayPal cannot reliably support the most widely used money management software in the world.  Don't get me wrong, Quicken has it's issues also, but it's the best out there if you don't want to spend thousands for an accounting software for a one person, low volume, business such as mine. 

To make matters more interesting, I did an automatic download this morning into the "PayPal checking" account (version 1) and Paypal recorded 5 new transactions. Instead of using the payment less fee for the transaction amount, it sent the account balance as the transaction amount.  Had I not caught the error, my account would have been inflated by a factor of 5.  This is very ugly.

Does Paypal ever chime in to say what the preferred method (read most accurate) method would be?