Syncing Stripe Payments as Deposits/Overpayments in Synder

Sometimes you may find it necessary to sync your Stripe payments as deposits in QuickBooks Online/ as overpayments to Xero, rather than directly associating them with sales receipts or invoices, and close invoices with these deposits later. 
Let’s say you offer custom-made products or services tailored to your customers’ specifications. For instance, a custom furniture manufacturer might require a pre-payment to cover the costs of materials and labor. Once the piece is ready and delivered, an invoice is issued detailing the full price, with the pre-payment amount deducted.

Overview:

1. Enabling the Sync-as-Deposits/Overpayments setting in Synder

2. Closing open invoices with Deposits/Overpayments

Enabling the Sync-as-Deposits/Overpayments setting in Synder

To set up Synder to sync Stripe payments as deposits/overpayments instead of sales receipts, simply follow the steps below:

1. Navigate to the left-hand menu and click on “Settings.”
2. Choose “Stripe” from the “Integrations” dropdown menu.
3. Select “Sync payments as Deposits” (for QBO, QBD and Synder Books) or “Sync payments as Overpayment” (for Xero).
4. Click “Update” to save your changes.

This is how it will look for QBO, QBD and Synder Books:

This is how it will look for Xero:

Closing open invoices with Deposits/Overpayments

For QuickBooks Online
Once you have deposits created with Synder and open invoices, you can close them by following these steps:

1. Open an invoice in QuickBooks Online and click on “Receive payment”.

2. Select the invoice and deposit and click on “Save and close”.

3. In your “Accounts Receivable,” you will see three entries: the invoice, the deposit, and the payment.

Note 1: A $0.00 payment will be auto-generated to connect the deposit to the invoice.
Note 2: The logic is exactly the same for QuickBooks Desktop and Synder Books.

For Xero:

1. Open an invoice in Xero and click on “Approve”.

2. Xero will offer you to apply the overpayment amount to this invoice. Click on “Allocate”.

3. Enter the amount that needs to be applied and click on “Allocate credit”.

There you have it; the invoice has been successfully closed!

Reach out to the Synder Team via online support chat, phone, or email with any questions you have – we’re always happy to help you!

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