Sync Multicurrency Sales in Synder Per Transaction Mode

This guide is for users on Per Transaction Sync who receive payments in currencies other than their accounting platform’s home currency.

When to use this guide

Use this guide if:

• You receive payments in currencies different from your accounting platform’s home currency, and
• You are using Per Transaction Sync in Synder.

Do not use this guide if you are on Summary Sync. Refer instead to: Multicurrency Sync for Summary Sync mode.

Before you start

Multicurrency must be enabled in your accounting platform before configuring Synder. Confirm that your QuickBooks Online or Xero plan supports multicurrency.

• QuickBooks Online: once multicurrency is enabled, the setting is permanent and cannot be turned off.
• Xero: multicurrency is plan-based. Once it is in use, it cannot be disabled without impacting existing data.

Enable multicurrency in Synder

1. Open Settings.
2. Select your integration.
3. Open the General tab.
4. Enable Process transactions in multiple currencies.
5. Click Update.

Choose your setup

The next steps depend on how your payment platform processes payouts.

Option A — Payouts in a single currency

If your processor converts all transactions into one payout currency, Synder uses a single clearing account in your home currency.

All transactions are recorded in that account and converted using the exchange rate provided by the payment processor (or your accounting platform’s rate, if the processor does not supply one).

To verify: open the sales document and confirm the transaction was converted correctly.

No additional setup is required.

Option B — Payouts in multiple currencies

If you receive payouts in different currencies (for example, USD payouts to a USD bank account and CAD payouts to a CAD bank account), you must create a separate clearing account for each currency in your accounting platform and map each one in Synder.

Step 1 — Create the accounts

In QuickBooks Online:

1. Go to the Gear icon → Chart of Accounts.
2. Click New.
3. Set Account type to Bank.
4. Name the account to match the platform and currency (for example, Shopify USD).
5. Select the correct currency.
6. Click Save and close.
7. Repeat for each currency you receive payouts in.

In Xero:

1. Go to Accounting → Chart of Accounts.
2. Click Add Bank Account.
3. Enter the account name (for example, Stripe EUR).
4. Select the correct currency and save.
5. Repeat for each currency you receive payouts in.

Step 2 — Map the accounts in Synder

1. Go to Settings → Sales tab.
2. Assign a clearing account per currency.

Fees and expenses:

Payouts: open the Payouts tab → assign payout accounts per currency → click Update.

To verify: confirm that transactions post into the correct currency accounts.

Troubleshooting

Clearing account balance keeps growing and does not clear

Cause: the Payouts tab is not configured, so Synder has nowhere to transfer the funds.

Resolution:

1. Go to Settings → select your integration → open the Payouts tab.
2. For each currency, select the correct checking account.
3. Click Update to save.

Future payouts will clear automatically. For past payouts, re-import historical data for the relevant period.

Note: If the Currency field is missing in QuickBooks Online, multicurrency has not been enabled in QBO yet.

Balance Reserve transactions fail to sync

Error message: “The transaction currency must be the same as either the ‘From’ or the ‘To’ account currency.”

Cause: by default, Synder creates a single Balance Reserve account in your home currency. If you operate multicurrency clearing accounts, reserve transactions in other currencies will not match this account and will fail.

Resolution:

• QuickBooks Online: in the Chart of Accounts, create a new Other Current Asset account for each additional currency (for example, Balance Reserve CAD, Balance Reserve EUR).
• Xero: Balance Reserves sync as Invoices and Credit Notes. The Balance Reserve account must therefore be a Current Asset type — not a Bank type.

Then in Synder: go to Settings → General tab and click the Gear icon next to Balance Reserve account. Select the correct Balance Reserve account for each currency. Click Update to save.

Important: never use the same account for Balance Reserve and Clearing for the same currency — this will create an unreconcilable balance.

Common questions

Which exchange rate does Synder use for foreign-currency transactions?

Synder passes the exchange rate provided by your payment processor (for example, Stripe, Shopify, or PayPal) to your accounting platform. If the processor does not provide a rate, your accounting platform’s default exchange rate for that date is used instead.

Do I need separate clearing accounts for each currency?

It depends on your payout setup:

• If you receive payouts in multiple currencies (for example, USD and EUR to separate bank accounts), you need a dedicated clearing account per currency.
• If all payouts settle in a single currency (for example, everything converts to USD), a single clearing account in your home currency is sufficient.

What happens if I sync a foreign-currency transaction without enabling multicurrency?

The transaction is automatically canceled with a message indicating that the currency does not match your home currency. No data is posted to your books. To resolve this, enable multicurrency in both your accounting platform and Synder, then re-sync the affected transactions.

Next step

Once everything is configured correctly, proceed with reconciliation in your accounting platform: Per-Transaction: Shopify Clearing Account Reconciliation Guide.

Reach out to Synder Team via online support chat or email with any questions you have – we are always happy to help you!