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 […]
Reconcile your checking bank account in Xero
In this guide, you will learn how to reconcile your sales platforms transactions synchronized by Synder to your Checking bank account in Xero. There are two ways to do it: Automated way using Payouts feature (more accurate) Manual way (creating transfers manually from the Bank Feed) 1. Automated way using Payouts feature (more accurate) 1) […]
Customize Stripe settings (Xero integration)
Overview: General settings Sales Products/Services Taxes Fees Application Fees Payouts Having connected your accounting company – Xero and your Stripe account (and other payment processors if needed) to Synder financial app, you can start customizing your settings for your Stripe Xero integration. To access ‘Settings’ for the particular payment processor – Stripe in our case […]
Automatic Xero clearing account reconciliation
When Synder integrates the payment processor with Xero accounting it creates a Clearing bank account (a so-called Holding account) for the temporary storage of synchronized transactions (the same way as the payment processor holds the money for some time before paying them out to your bank). Auto-reconciliation feature allows to mark all the synchronized income […]