Managing an e-commerce business may be both a blessing and a curse. In order to develop new strategies and level up business performance, all processes need to be run attentively and correctly. Even a small mistake may cause a ton of problems and result in a penalty if the discrepancies are noticed by the IRS during the tax season.
Keeping track of the finances can be time-consuming, involve lots of numbers and terminology a business owner might not be familiar with. Moreover, as the business grows and becomes more complex, so too do its accounting requirements.
While you can prepare reports yourself, you might also hire a professional accountant to help you with your books. Either way, it requires maximum attention to details.
Accounting is a fundamental element of business management. When managed correctly, good accounting practices not only help monitor business performance but also provide useful insights into how a business owner can drive future growth.
Synder Sync was created to help with business accounting operations – the software turns recording transactions into an automated process and provides its users with detailed reports based on real numbers from the stored sales.
Here is how Synder Sync works with QuickBooks example:
Learn more about the features Synder Sync provides its users with and implement them into your daily business routine to take advantage of them.
We’ve created special feature articles to get business owners and accountants acquainted with Synder:
– to store detailed information from all the channels in use in one source of truth.
– to get the most accurate conversion rate on the day when transactions are made.
Reporting (P&L and Balance Sheet)
– to get informative reports about business performance and see the real numbers.
Syncing historical data
– to transfer data from your sales channels and/or payment gateways automatically to your accounting software to get a big picture of business cash flow.
Rollback of sync
– to deal with any changes, duplicates or errors due to manual input professionally.
– to create personalized flows for data categorization when transferring transactions/sales from Synder to your accounting software.
– to align the names of products from your e-commerce and/or payment platforms with the products set up in your accounting software.
– to match the information from recorded transactions across all channels with your actual bank account immaculately.
Syncing customer data to QuickBooks
– to understand your online business better by tracking the customers in QuickBooks account by name instead of the default “Generic customer”.
🔥 Empower your accounting with Synder Sync! 🔥
Its unique features to stay on top and keep tabs on your business cash flow! Synder has a 7-day free trial, so hurry up to try all the features above by signing up right now! Or schedule a demo session with our specialists who’ll walk you through the onboarding process and answer any questions about the workflow.