What Is Withheld Tax? Marketplace Facilitator Tax is a tax collected and remitted by Amazon, eBay, Etsy or PayPal on your behalf, due to agreements with the specific states in the USA or other countries (Canada, etc.) The trading platforms have been making agreements with states to collect and remit taxes on your behalf, thus […]
Category: PayPal
How to connect PayPal to Accounting Software
Looking desperately for an easy, quick, and reliable way to communicate your PayPal account with your QuickBooks or Xero company? You can stop the search now! The Synder accounting solution is here for you, providing an opportunity to sync smoothly your PayPal transactions and corresponding PayPal fees and PayPal taxes to the accounting software you […]
How to reconcile PayPal transactions in QuickBooks Online
What are the steps necessary to reconcile a bank statement? What are you primarily doing when you reconcile your checking account? Find the answers in this helpful article! Overview: Reconcile PayPal in QuickBooks with Synder Customizing Your Synder Settings How to reconcile in QuickBooks Online Reconcile PayPal in QuickBooks with Synder Our customers have found […]
Customize PayPal settings
Overview: General settings Sales Products/Services Taxes Fees Expenses Payouts Multicurrency When you have PayPal QuickBooks Online integration connected, you can start customizing your settings. To access your PayPal settings select the organization needed at the top right of the page – – > Settings button on the left menu of the app – – > click on […]
Synder product/service settings explained
Overview: Assigning transactions to existing accounting company’s products Auto-creating of products Applying a common product name to all transactions Parsing product information from Charge description (Stripe only) Product mapping Synder helps to categorize transactions in your accounting platform. The software is able to get the name/sku of a product used in the transaction from the payment […]
Why do you need payouts enabled?
In order to simplify the reconciliation process in QuickBooks, we have introduced the Payouts feature available to any payment processor connected. Enabling Payout synchronization in Synder allows you to automate syncing data for the payments you receive and the withdrawals you make from it into your checking account. Select your checking account in Payout settings of Synder to get […]
How sales tax works in Synder
Overview: How does Synder calculate sales tax? Sales taxes settings with US-based QuickBooks companies Sales taxes settings with Xero or Non-US based QuickBooks companies Default tax code Zero-rated tax code Apply generic tax code Expense tax settings How does Synder calculate sales tax? For e-commerce businesses, sales tax calculation may become challenging as there […]
Synchronize Multicurrency Transactions in QuickBooks Correctly
Automatically synchronize your foreign currency transactions in QuickBooks with the help of Synder. Depending on your setup, Synder will create transactions in the original foreign currency in QuickBooks or convert them to your home currency according to the exchange rate provided by your payment processor directly in your QuickBooks multicurrency wallet. Thus, the software will […]
How to sync your refunds with Synder
All businesses face processing refunds or chargebacks at some point. Likewise your sales transactions, with the help of Synder you can sync also your refunds and chargebacks using Stripe, Square, PayPal, etc. Overview: How to sync your refunds Where you can find the synced refunds on QuickBooks side How to sync your refunds Login Synder […]
Using your PayPal as a Bank Account
It is not a piece of news that PayPal is now much more than just a payment processor, for some people it can replace actual Bank Account. Usually, in order to account for PayPal transactions, you are to create a bank type account for them in your QuickBooks and enter your PayPal sales and expenses […]