{"id":9039,"date":"2022-08-12T16:50:24","date_gmt":"2022-08-12T16:50:24","guid":{"rendered":"https:\/\/synder.com\/blog\/?p=9039"},"modified":"2025-02-17T10:21:28","modified_gmt":"2025-02-17T10:21:28","slug":"how-synder-helped-betr-health","status":"publish","type":"post","link":"https:\/\/synder.com\/blog\/how-synder-helped-betr-health\/","title":{"rendered":"Categorization Of Financial Transactions: How Synder Helped To Categorize Expenses and Income And Import Almost 2 Years Of Data"},"content":{"rendered":"\n<h2 id=\"betr-health-a-business-in-need-of-better-categorization-of-financial-transactions-to-achieve-more-effective-bookkeeping\" class=\"wp-block-heading\">Betr Health &#8211; a business in need of better categorization of financial transactions to achieve more effective bookkeeping<\/h2>\n\n\n\n<p>The <a rel=\"noreferrer noopener\" href=\"https:\/\/betrhealth.com\" target=\"_blank\">Betr Health<\/a> Method is the world\u2019s first gut health, food as medicine movement using the science that everyone\u2019s talking about, but few people know how to implement it into their daily lives. It was created by Dr. William Ferro and is based on nourishing the body with a diverse variety of whole, delicious foods to heal and restore gut health. They sell dietary supplements, skin care products, deliver healthy food, and also provide services (memberships on the site) to improve health, lose weight, etc.<\/p>\n\n\n\n<p>With the increasing popularity and the upcoming round of fundraising, Betr Health had to find more efficient ways to categorize their financial transactions. That&#8217;s where our story begins!<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 id=\"betr-health-needed-updated-and-accurate-books-with-per-transaction-records-of-their-sales-for-their-upcoming-round-of-fundraising\" class=\"wp-block-heading\">Betr Health needed updated and accurate books with per transaction records of their sales for their upcoming round of fundraising<\/h3>\n\n\n\n<p>Betr Health sells their products and services using Shopify, Amazon, WooCommerce, Stripe, Paypal and Authorize.net. They had been <a href=\"https:\/\/synder.com\/industry\/syndersync\/\" target=\"_blank\" rel=\"noreferrer noopener\">managing<\/a> their books by posting bank deposits with QuickBooks Online rules. Usually, this doesn\u2019t give a full picture of gross sales and fees, but instead only gives access to net income.&nbsp;<\/p>\n\n\n\n<p>They were about to start raising capital and they needed to show further details about their income in their reporting. They also wanted more detailed categorization of transactions, and were looking for a <a href=\"https:\/\/go.synder.com\/auth#\/signup?product=SYNC \uff0b\">solution that would put each transaction in their QuickBooks Online account<\/a>.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe biggest challenge was that you are bringing in top line revenue but you couldn&#8217;t reconcile it back down to the end user, and you have to get multiple integrations for different platforms where Synder had pretty much every major integration that we needed from Stripe to Shopify, to Amazon, etc. that you can use under one account, so it was very simple to pull it in. And then being able to tire back to the end user level as well as bank reconciliation &#8211; it makes it very-very powerful.\u201d Dr. William Ferro<\/em><\/p>\n\n\n\n<p><\/p>\n<\/blockquote>\n\n\n\n<h3 id=\"betr-health-needed-to-sync-each-transaction-to-their-books-and-categorize-all-sales\" class=\"wp-block-heading\">Betr Health needed to sync each transaction to their books and categorize all sales<\/h3>\n\n\n\n<p>Browsing the list of solutions in the QuickBooks Marketplace in search of a tool that would help them <a rel=\"noreferrer noopener\" href=\"https:\/\/synder.com\/blog\/how-synder-helped-american-hospital-supply\/\" target=\"_blank\">sync each transaction<\/a> into their books and achieve seamless transaction categorization, they found Synder.&nbsp;<\/p>\n\n\n\n<p>They were also looking for a solution that would allow them to track their shipping fees separately in their P&amp;L and they were quite happy to learn that Synder does this by default.&nbsp;<\/p>\n\n\n\n<p>They wanted to categorize income by product. Since they have many variations of the same product, they wanted to have income for all the variations to reflect in one account or category, which was possible with Synder, a powerful categorization engine.&nbsp;<\/p>\n\n\n\n<p>They also needed a solution that would allow them to work with large numbers of historical transactions dating back to 2020, which Synder can do seamlessly.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c<em>We went from kinda knowing where everything goes to being able to reconcile on a real time basis.\u201d Dr. William Ferro<\/em><\/p>\n<\/blockquote>\n\n\n\n<p><\/p>\n\n\n\n<h3 id=\"betr-health-is-now-on-their-way-to-smooth-reconciliations-proper-categorization-of-transactions-and-detailed-reporting-to-show-potential-investors\" class=\"wp-block-heading\">Betr Health is now on their way to smooth reconciliations, proper categorization of transactions, and detailed reporting to show potential investors<\/h3>\n\n\n\n<p>Synder\u2019s customer success team was able to help Betr Health get onboarded and set up all their categorization rules properly so that all their financial data could be categorized the way they needed it to be.&nbsp;<\/p>\n\n\n\n<p>Historical transactions have been updated in their books and they are now able to sync new transactions as they happen, as Synder does this automatically in the background.&nbsp;Each processed transaction is placed under a pre-defined category, which is exactly what Betr Health was looking for.<\/p>\n\n\n\n<p>They\u2019ve saved both time and money getting their books and reporting ready for their potential investors and have a clear path ahead.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe thing that really helps you guys out the most &#8211; it was such an easy integration, I had maybe a total of 10 clicks and I had integrated all of my data from all of the different areas in one account, so I think that as a business owner you can get stuck really fast and the fact that I didn&#8217;t get stuck was amazing.\u201d Dr. William Ferro<\/em><\/p>\n\n\n\n<p><\/p>\n<\/blockquote>\n\n\n\n<h2 id=\"ready-to-give-synder-a-try-and-achieve-smoother-categorizing\" class=\"wp-block-heading\">Ready to give Synder a try and achieve smoother categorizing?<\/h2>\n\n\n\n<p>Do you need help with QuickBooks multi-currency problem? Do you have unique ways of categorizing transactions and need a system that can automatically make those changes to your books as transactions occur?\u00a0<\/p>\n\n\n\n<p>If, like Betr Health, you\u2019re looking for software that can automate accounting tasks and ensure that your accounts reconcile each month, give Synder a try! We can help with any number of historical transactions, plus get your books in order now and in the future, making sure your data is accurate and safe. <a href=\"https:\/\/synder.com\/demo\/\">Book a call with our specialists<\/a> to see how Synder can streamline categorization of financial transactions for your business and much more!<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"Betr Health &#8211; a business in need of better categorization of financial transactions to achieve more effective bookkeeping&hellip;\n","protected":false},"author":88,"featured_media":13120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":""},"categories":[45,251],"tags":[255,64],"ppma_author":[389],"class_list":{"0":"post-9039","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business-management","8":"category-use-cases","9":"tag-business-owner","10":"tag-synder","11":"cs-entry","12":"cs-video-wrap"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Categorization Of Financial Transactions: How Synder Helps To Categorize Expenses and Income<\/title>\n<meta name=\"description\" content=\"\ud83e\udd13\ud83d\udcdd Learn how Synder helped Betr Health with the categorization of financial transactions. 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As a content creator and Synder specialist, she focuses on integrations between accounting software such as QuickBooks and Xero, and various payment platforms and online marketplaces, including Stripe, Shopify, and Amazon. Passionate about AI development, she\u2019s constantly on the lookout for new AI software solutions to analyze how they impact the aspects of the business world."}],"_links":{"self":[{"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/posts\/9039"}],"collection":[{"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/comments?post=9039"}],"version-history":[{"count":1,"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/posts\/9039\/revisions"}],"predecessor-version":[{"id":29240,"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/posts\/9039\/revisions\/29240"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/media\/13120"}],"wp:attachment":[{"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/media?parent=9039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/categories?post=9039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/tags?post=9039"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/synder.com\/blog\/wp-json\/wp\/v2\/ppma_author?post=9039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}