{"id":20222,"date":"2023-10-20T18:41:47","date_gmt":"2023-10-20T18:41:47","guid":{"rendered":"https:\/\/synder.com\/help\/?p=20222"},"modified":"2026-03-30T19:20:42","modified_gmt":"2026-03-30T19:20:42","slug":"synder-revrec-setting-up-saas-revenue-recognition-with-synder","status":"publish","type":"post","link":"https:\/\/synder.com\/help\/synder-revrec-setting-up-saas-revenue-recognition-with-synder\/","title":{"rendered":"Synder RevRec – Per Transactions Sync: Setting up SAAS Revenue Recognition With Synder"},"content":{"rendered":"\n

Revenue recognition in simple terms is the process of correctly allocating the money you receive to Income accounts once you actually earn it. Synder can completely automate the revenue recognition process for Stripe subscriptions into QuickBooks. The app uses the Deferred Revenue account to allocate the money and then gradually transfers it under the mapped Income accounts in accordance with the schedule built. Read the below article for the setup details.<\/p>\n\n\n\n

Overview:<\/strong><\/p>\n

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  1. Example of Stripe subscription<\/a><\/p><\/li>\n\t

  2. Mapping the subscription for revenue recognition<\/a><\/p><\/li>\n\t

  3. Check the results in QuickBooks<\/a><\/p><\/li>\n<\/ol>\n\n\n\n

    Example of Stripe subscription<\/strong><\/h2>\n\n\n\n

    Stripe is the source of truth for revenue recognition, so Synder relies on Stripe subscriptions to build recognition schedules, so it is important to understand its basics. If you know what Stripe subscriptions are and how recurring products are set up, you can skip this chapter.<\/p>\n\n\n\n

    Stripe recurring products<\/strong><\/p>\n\n\n\n

    Before talking about subscriptions themselves, let\u2019s take a quick look at the products in Stripe. In the screenshot below, you can see 3 different products outlined:<\/p>\n\n\n\n

    1. This is a one-time Stripe product; such items will be recognized right away as income, with no recognition as liability each month\/year.<\/li>
    2. If you see \u201cproduct price\/period\u201d, that means that this is a recurring product (in the example below, this will be a yearly product). Synder will allocate such products\u2019 income throughout the year.<\/li>
    3. \u201cStarter subscription\u201d in the below example has 3 what Stripe calls \u201cprices\u201d, which means that the Starter subscription can be sold on a yearly, half-yearly, and monthly   basis, for example.<\/li><\/ol>\n\n\n\n
      \"\"\/<\/figure><\/div>\n\n\n\n

      Stripe products list<\/em><\/p>\n\n\n\n

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

      \"\"\/<\/figure><\/div>\n\n\n\n

      Creating a new product in Stripe<\/em><\/p>\n\n\n\n

      Example of Stripe subscription<\/strong>
      To find the subscriptions list in Stripe, go to Billing \u2192 Subscriptions<\/strong>.
      Once you get inside a specific subscription, you will be able to see the list of invoices associated with the subscription. Below is an example of such an invoice with a billing period of the recurring product specified.<\/p>\n\n\n\n

      \"\"\/<\/figure><\/div>\n\n\n\n

      You need to map such a subscription in Synder and you will be able to sync it to the books with completely automated revenue recognition!<\/p>\n\n\n\n

      Mapping the subscription for revenue recognition\n<\/strong><\/h2>\n\n\n\n

      Important!<\/strong> <\/strong>Before you can map subscriptions, you should enable the Synder revenue recognition feature. <\/em><\/p>\n\n\n\n

      You can apply to our support team to request the revenue recognition feature for your account. Our specialists will schedule a call to understand your requirements for the RevRec setup, including which <\/em>revenue recognition calculation method<\/em><\/a> you need, what the start date for revenue recognition should be, etc.<\/em><\/em><\/p>\n\n\n\n

      Configuration and mapping<\/strong><\/p>\n\n\n\n

      Once you have Synder RevRec enabled, you can get to the configuration.<\/p>\n\n\n\n

      1. Once you are in Synder go to Revenue Recognition<\/strong> \u2192 Configuration<\/strong>
      2. Map your Stripe product prices to your QuickBooks Products, you may need to set up one or multiple products to map against Stripe prices.<\/p>\n\n\n\n

      Important! Every QuickBooks Product, you want to be recognized, must have the \u201cDeferred Revenue\u201d account selected as an Income account. <\/strong>This way, once an Invoice or a Refund with this product gets to your books, your Deferred Revenue will be affected, not the Income.<\/p>\n\n\n\n

      <\/p>\n\n\n\n

      3. Map the needed QuickBooks Income accounts under column 3. This way, Synder will know which Income account should be used to recognize the revenue.<\/p>\n\n\n\n

      \"\"\/<\/figure><\/div>\n\n\n\n

      Synder RevRec configurations and mapping<\/em><\/p>\n\n\n\n

      Note<\/strong>: You can set up mapping according to your discretion and use one single product (SKU) in QuickBooks to map against all Stripe prices. However, remember to map different Income accounts. Alternatively, if you want maximum details, you can set up multiple products in QuickBooks and map them accordingly.
      Note 2<\/strong>: <\/strong>If the mapping is missing, Synder will not be able to sync transactions to your books, and they will be labeled as \u201ccanceled\u201d due to insufficient mapping with a corresponding error message.<\/p>\n\n\n\n

      Check the results in QuickBooks\n<\/strong><\/h2>\n\n\n\n

      Reviewing your subscription schedule<\/strong><\/p>\n\n\n\n

      To review your subscription schedule, follow the below steps:<\/p>\n\n\n\n

      1. In your Synder account, go to Revenue Recognition<\/strong><\/li>
      2. Then Subscriptions<\/strong><\/li><\/ol>\n\n\n\n

        You will see the full list of the Subscriptions imported from Stripe. Use the filters and search to find the subscription you need.<\/p>\n\n\n\n

        \"\"\/<\/figure><\/div>\n\n\n\n

        Synder RevRec subscriptions<\/em><\/p>\n\n\n\n

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        The invoice takes as an example in chapter 1 includes:<\/p>\n\n\n\n

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