Learn how to automate and tune small business accounting to cover your specific needs with Smart Rules.<\/p>\n\n\n\n\n\n\n\n\n
Wondering what the advantage of keeping good accounting records is? Why would someone want to add even more details if simple record keeping for a small business seems enough? Check out the benefits of detailed small business accounting and find out how to set it up to work automatically for your business.<\/p>\n\n\n\n
Contents:<\/b><\/p>\n Save on taxes with accurate records<\/a><\/p><\/li>\n\t Go through an audit smoothly<\/a><\/p><\/li>\n\t Stay in compliance with the law<\/a><\/p><\/li>\n Keep yourself informed about financial health<\/a><\/p><\/li>\n Be safe from interest and penalties<\/a><\/p><\/li>\n What are Synder Smart Rules?<\/a><\/p><\/li>\n<\/ol>\n\n\n\n Sometimes business owners rely on their memory and do not record certain expenses, for example. However, when it comes to confirming the expenses a business incurred, there is nowhere to pull the transactions out to prove those expenses. This means they cannot claim the return and simply lose money. Only a clear record of business expenses ensures that a business can confirm and prove them.<\/p>\n\n\n\n Without accurate records, tax auditors will make assumptions on what a business income and expenses could be based on their judgments. They will take into account the location, type, and size of a business. Of course, they will also consider industry standards so you\u2019re out of luck if your business is not doing so well for some reason and what\u2019s sadder, there is nothing you can do about it if you don\u2019t have your records to defend your business.<\/p>\n\n\n\n Another advantage of accurate and detailed records at this point is that it will help you to go through an audit in a shorter time. It feels good when you can send the necessary documents to an auditor in two clicks and don\u2019t have to spend much time being worried and looking for certain information to provide. You always know that every single cent is included in the report.<\/p>\n\n\n\n Well-kept accounting records, including meticulous PayPal bookkeeping<\/a>, guarantee your law compliance.. As well as all the benefits from above, you as a business owner can feel reassured that you are able to stay within the law.<\/p>\n\n\n\n Another benefit, particularly relevant in avoiding costly accounting mistakes<\/a>, you get by keeping your business records in good condition is that you can always spot any financial weaknesses or strengths and make financial decisions based on accurate information. The information you receive in numbers is way more reliable compared to what you assume or feel. Also, if you keep the track of your business bookkeeping you can find a good time to expand, improve your business or simply slow down on expenses.<\/p>\n\n\n\n By running a well set up account for your business bookkeeping you\u2019re safe from interest and penalties because you pay the correct taxes on time. You have no problems with the deadlines, accuracy of your reports, and are able to go through reconciliation, audit, or any other procedure smoothly.<\/p>\n\n\n\n Taking into account everything that is said above, it\u2019s clear that the best way to keep your business bookkeeping accurately is to refer to business accounting software. Why?<\/p>\n\n\n\n All software solutions have their advantages and disadvantages. For example, you can find a perfect inventory tracking system and be ready to pay for it but at the last moment it will turn out that the software doesn\u2019t work with your accounting system and what\u2019s next? Then you have to choose either to move all your accounting data to another system that will work with the inventory tracking app or look for another app to track the goods that you sell.<\/p>\n\n\n\n It takes time to make a decision to try accounting software, then it takes even more time to find one that you will trust. Luckily most of the apps allow you to run a trial period for free, just like Synder. Whether you need simple record keeping for small businesses<\/a> or a customizable functionality for different business purposes, you have a month for free to try without the need to attach your credit card. In addition, Synder helps to manage accounts receivable<\/a>.<\/p>\n\n\n\n Most accounting software covers the basic accounting needs of a small business very well. There are plenty of solutions that will free you from manual data entry, will provide reports in two clicks, will keep track of your inventory, etc. Today such a solution is available for small businesses and enterprises at very scalable pricing.<\/p>\n\n\n\n But what if one has a certain flow that out-of-the-box solutions can\u2019t support? Hiring an accountant to cover that one flow is expensive, taking care of it manually is time-consuming, potentially error-prone, and frustrating when everything else is automated.<\/p>\n\n\n\n Synder users showed much interest in having more freedom to customize their bookkeeping, and here is what they can do within the most recently released functionality called Synder smart rules:<\/p>\n\n\n\n Smart rules in Synder is the newest update for the app and a big functionality unto itself. You will find smart rules as a number of pre-made templates for your convenience. All of them require only minimal adjustments to be used right away.<\/p>\n\n\n\n If you already have a Synder account<\/a> you can log in to check, and if not, feel free to sign up because for now, you get a free trial and no credit card is needed.<\/p>\n\n\n\n To find all the templates and proceed with your customization you need to go to the Rules tab on the left of your screen when you are logged in.<\/p>\n\n\n\n After this, you will see a number of templates you may want to try.<\/p>\n\n\n\n Simply click on any that you want to try out and save after you\u2019re done with customizing.<\/p>\n\n\n\n Note that we have YouTube tutorials<\/a> to help you out when starting with the rules. Also, all of them are listed in this article below so you can have a look and see if something catches your eye.<\/p>\n\n\n\n With these rules, you can build your own bookkeeping flows that fit your business. You can add locations, assign a class to a line, invoice, sales receipt, and more. With the help of the rules, you can make Synder fill in the missing information in your QuickBooks automatically. Also, the rules allow you to apply or edit classes, locations, tax, and a payment method. Here you can find more information on how it works.<\/a><\/p>\n\n\n\n The rules are based on if-then<\/em> conditions with the help of which you are able to achieve a certain goal. All you need is an action that will start the ball rolling, a condition, and a result that you want to have. The simplest example would be: If<\/strong> an invoice is created, then<\/strong> the thank you email will be sent.<\/p>\n\n\n\n What is also important about Synder Smart Rules is that everything is a one-time setup. Once you\u2019re done with customizing the flows, everything after will be recorded automatically.<\/p>\n\n\n\n In the example below, you can see how it looks in the app. There are two square fields with two actions where one triggers another.<\/p>\n\n\n\n The action starts when an invoice is paid, and then an email is sent.<\/p>\n\n\n\n Within this particular template, you can edit the email subject and the body of your email.<\/p>\n\n\n\n The email example is just the simplest thing you can do, the rest of the functionality is described below. There are 10 rules in total for you to customize. Should you have any questions, you can always contact the support team for answers.<\/p>\n\n\n\n In case there is no class information in your sales receipts in QuickBooks, you can make Synder apply it automatically for you. After you set a certain flow for this task, QuickBooks will update information and assign a class that is needed. Here is a detailed explanation in a 2 minute video.<\/p>\n\n\n\n\n\t
Save on taxes with accurate records<\/strong><\/span><\/h2>\n\n\n\n
Go through an audit smoothly<\/strong><\/span><\/h2>\n\n\n\n
Stay in compliance with the law<\/strong><\/span><\/h2>\n\n\n\n
Keep yourself informed about financial health<\/strong><\/span><\/h2>\n\n\n\n
Be safe from interest and penalties<\/strong><\/span><\/h2>\n\n\n\n
What are Synder Smart Rules?<\/strong><\/span><\/h2>\n\n\n\n
Set class in sales receipts<\/h3>\n\n\n\n