Nowadays, it’s common for e-commerce brands to have not one platform, but many that they are selling goods from. Some common platform stacks include: Amazon, Shopify, Etsy, and eBay for sales platforms, plus Stripe, PayPal, and Afterpay in addition to Amazon Pay and Shopify Pay for their payment gateways. Of course, with each platform come different transactions, fees, and data, which takes a significant amount of time to enter into accounting software. Many companies will try to enter large numbers of transactions at once manually, opening them up to potential typing errors, or some will even wait until tax time to pull all their records together.
Whichever method a business chooses, one thing is sure…it takes many hours of manual data entry to keep records up to date.
E-commerce accounting automation challenges: entering transaction data for multiple platforms is a logistical nightmare without Synder Sync
It’s always a challenge to consolidate large amounts of data, especially when it’s coming from multiple sources. Companies need to have accurate books, but when it requires someone from their team to manually input or upload transactions, it’s usually not done daily, but gets put off until the last minute. It makes sense that this would happen. E-commerce stores are busy doing things like managing inventory, marketing, and shipping items, so entering things like transaction amounts, platform fees, and even trying to do a proper currency exchange for those transactions in other regions becomes way too complicated.
Of course, sometimes after transactions are added, errors can be accidently input into the books, only to be discovered when it’s time to reconcile accounts at the end of the month. The point is, it’s one thing when it’s a small business and there are not so many transactions. But for businesses with a high volume of transactions, especially those that use multiple payment processors, finding where the error occurred and fixing it is an extremely time-consuming process. So how to deal with it? The answer is simple – accounting automation.
“Accounting for a business with an online shopping cart that utilizes multiple payment processors was an absolute nightmare until I found Synder.”Shawna C. – Synder Customer
E-commerce accounting made easy: Synder automatically syncs all data from all platforms correctly into your books
Synder Sync is e-commerce accounting software that handles the syncing of data from all your sales platforms and payment processors automatically. Set it up once and it will run as transactions happen, ensuring that your books are always up to date. You can have peace of mind about your financial picture, because you can log into Synder at any time and have a clear view of your cash flow and expenses.
Synder customers only need to set up their account once (it takes about 10 minutes) and then all their transactions will be synced to their books automatically. This can save 10-15 hours per week for busy e-commerce stores with 2-5 million in revenue. And yes, it can sync historical data as well!
“What I like about Synder is the idea of Synder automating transactions from different platforms. It is amazing! E-commerce accounting can be smooth.”Lisa P. – Synder Customer
“This great app helped automatically connect my Amazon, PayPal, Etsy, and eBay sales with QuickBooks. It helped me get current and organized, and track my sales with ease. Love my automated accounting!”John G. – Synder Customer
Automate your accounting: Synder Sync saves business owners time and removes the hassle out of their bookkeeping process
With Synder Sync, business owners are able to manage their e-commerce accounting with ease and have fewer headaches since they can rest assured that their data is accurate, and their books are always up to date. This saved time can be spent reviewing key metrics and KPIs, doing marketing activities, and growing their busy online business.
Plus, there’s no delay in waiting for data to show up in their books, meaning they have an accurate picture of what’s going on in their e-commerce business each day, not once a week, at the end of the month, or waiting until tax time.
“Synder has saved us time and headaches! There are three things we love about Synder software:
1. It brings over the customer information from Stripe to QuickBooks Online. That was a game-changer for us and the way we did our e-commerce accounting because it saved us so much time and hassle.
2. It syncs in real time. We used to have to wait a few days for the sale to appear in our books with our old app.
3. The customer support responsiveness is exceptional!”Brian B – Synder Customer
E-commerce businesses can stay operational during the recession thanks to accounting automation
By automating your back office and accounting activities, and helping to reconcile your books each month, Synder Sync can help e-commerce businesses get through the recession and stay operational.
Not only does Synder Sync save you time so you can focus on other activities, but also by keeping your books correct, you’re able to optimize costs and see the right detailed data in your P&L statement. Being able to see your operational costs quickly means you’re equipped for better decision making, and can maximize your profits. Automating accounting processes with smart software opens up more opportunities and ensures your e-commerce business is safe come tax season.
Ready to connect your e-commerce platforms in one source of truth and sync all transactions to your books seamlessly? Create a free account.
Book a call with our specialists and find out why customers say:
“If you need to sync your Stripe transactions with QuickBooks I would recommend this tool, it will save you a lot of time. The support is also very responsive, Tina was very helpful in helping us transition our profile from one QuickBooks Online account to the other.”Johnny B. – Synder Customer
Connect all your sales channels and payment gateways and enjoy automated e-commerce accounting that is easy and error-free!