Accounts Receivable is a vital aspect of a businesses’ fundamental analysis. Being a smart accounting software, Synder records all payment details once the purchase is made, and furthermore, it is a great help in managing AR in your books. With the Synder solution, you can automatically close open invoices with synced payments and generate open […]
How to connect Stripe to Accounting Software
According to experienced business specialists the key to gain new customers is to cover more channels of communication with potential clients. Sales platforms such as Stripe, PayPal, Shopify and eBay provide your customers with an easy and convenient way to complete purchases online so that business owners can enjoy the benefits of an incoming stream […]
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 […]
Can Synder sync transactions in multiple currencies to Xero?
The answer is Yes. Synder will sync transactions in foreign currencies to a clearing account in your Xero Chart of Accounts and then transfer the funds to your checking account. The setup for all transactions to be put into one account is ready by default, so there is no need to do anything besides synchronizing […]
How are payment processing fees accounted for?
Once you sync a transaction from the payment processor into your accounting company the Sales Receipt (or Invoice + Payment) for the total amount of sale and the Expense for payment processor fees will be created on Synder accounting/QuickBooks/Xero side. To check an Expense created in your accounting company please follow the simple steps below: […]