Synder RevRec: Plans and Discounts Mapping

Before you start syncing data from your Stripe with the Synder Revenue Recognition feature, you need to create mapping for Stripe prices. Synder displays product+price combinations ONLY if at least one of them is active in your Stripe.
If both the product and its price are archived, it won’t show up in the mapping. 

Overview:

1. Understanding recurring products/prices in Stripe
2. Plans (Stripe prices) mapping to QuickBooks
3. Discounts mapping to QuickBooks
4. Missing prices and canceled syncs

Understanding recurring products/prices in Stripe

Let’s take a quick look at the products in Stripe. In the screenshot below, you can see 3 different types of products:

1. A one-time Stripe product: Synder will recognize such items right away as income, with no recognition as liability each month/year.
2. A recurring product (a yearly product in the example below) having the “product price/period” tag:. Synder will allocate such products’ income throughout 12 months.
3. A “Starter subscription” product (in the below example it has 3 “prices, standing for yearly, half-yearly, and monthly subscriptions):   Synder’s mapping in this case will have 3 lines, enabling you to map each price to a different category.

So, in order to accurately set up Stripe products for revenue recognition, the products should be recurring, and you should have proper billing periods (monthly/yearly/etc.).

Plans (Stripe prices) mapping to QuickBooks

Here are a few basics about mapping in Synder RevRec:

1. Synder will display all recurring and one-time products and prices from your Stripe account.
2. You need to map all the product prices that are used in subscriptions, as they’ll go via revenue recognition. If there are no one-time products in your subscription, you can leave them unmapped.
3. If the product isn’t mapped, the transaction containing this product won’t be synchronized.
4. You won’t be able to see a product if it’s archived and its price is archived as well. Unarchive one of them (either the product or price), and the product will appear on the mapping.
5. The mapping will remain unbroken if you change the product name in QuickBooks or Stripe.

Plans mapping

1. Go under Revenue Recognition → Configurations tab → Plans mapping.
2. The list of plans to map contains Stripe product names + Stripe price names. So if you have the “Large” subscription plan, which you bill according to the monthly and yearly price, you will see 2 lines to map here.

3. Map your QuickBooks Product under the Accounting product name.
   Make sure you have a product in QuickBooks to map. The most important thing about products you’re mapping in Synder Revenue Recognition is to ensure they are linked to the deferred revenue (liability) account in your books.

Tip: If you’ve been using an account for manual revenue recognition before, we recommend creating a subaccount or using a different account for automation. This way, you’ll be able to clearly see the transactions synced by Synder and easily reconcile them.

4. Map the accounts for revenue recognition under the income account.
   Use your income categories here. You can map all plans to the same income account or use different ones depending on the products or billing periods.
5. Once you map a QuickBooks Product and income account to a Stripe price and save (click Update on the mapping page), the product will go under the Mapped tab.
6. Default product mapping.
   Sometimes, there are situations when the price isn’t available in Stripe (usually, due to technical issues of Stripe or if the product was permanently deleted from Stripe).  If this happens, the default product and default income account will be used to sync the data over to the books.

7. Repeat all the steps for the other connected Stripe accounts, if you have any.

Discounts mapping to QuickBooks

The discounts will be showing up as line items in QuickBooks invoices, so all the Stripe coupons should be mapped to a product and income account in QuickBooks. 
Depending on your discount processing mode, you’ll see different mapping options (learn more about discount processing modes here).

If Synder is set to recognize both product totals and discounts:

1. Go under Revenue Recognition → Configurations tab → Discounts mapping.
2. Map your Stripe coupons (discounts) to a QuickBooks product and income account, the same way as for the plans above.

Note: Make sure your discount product is linked to the same deferred revenue account as the other products.

3. Set a default discount product and default income account. If the discount was deleted in Stripe, it’s going to be synced to this default product.

If Synder is set to recognize only discounted product totals:

1. Go under Revenue Recognition → Configurations tab → Discounts mapping.
2. Set a default discount product from your QuickBooks. 

Note: Your default discount product should be linked to the same deferred revenue account as your regular subscription plans.

Map the discounts for all the connected Stripe accounts.

Missing prices and canceled syncs

If you’ve canceled syncs for Synder RevRec transactions, firstly, check the sync log (clicking Explain next to the cancellation status). If the reason for sync cancellation is insufficient mapping, here are the steps to remedy that:

-Check your Unmapped tab by switching on the Products causing canceled syncs toggle. This will show you only the products that caused canceled syncs.
You can either map all the products or just the products that caused canceled syncs, and sync the transactions again in the Platform transactions tab. This time, it’s going to work out.

-If your Unmapped tab is empty, you most likely have an archived product and archived price used in the transaction. Go to your Stripe account and unarchive the product or price under the Product catalog.

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!