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:
- Select the Organization needed at the top right of the page – – > go to the Platform transactions tab on the left menu – – > click on the Explain button under the Synced status of the transaction needed.
- Under the Sync log tab press Show in QB button
- This is how the payment processing fees look like on the example of Stripe transaction synchronized to QuickBooks Online. Fees are deposited into a clearing account (Stripe (required for Synder) and are categorized according to your Synder settings (in this case to the Stripe processing fees category from Chart of Accounts).
Now you know how Synder accounts for payment processor fees!
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