What is Synder?
Synder can be recognized as an accounting software, which is specially designed to automate a lot of manual, time-consuming accounting tasks. This software will simplify the decision-making process and increase the quality of the decisions by providing accurate information about the company. The accounting software Synder was introduced by CloudBusiness especially to deal with E-commerce businesses. Most importantly, it allows companies to import online payments, automate the invoicing task and accept credit cards used on almost every online sales channel.
Further, it has good ratings in Trustpilot and Capterra, and has more than 3000 customer reviews. It has been able to keep its original purpose by saving 2000 hours for companies monthly. Synder provides continuous support to their customers from different modes like Screen Share and live chats. It has connected with some useful accounting applications like Xero and QuickBooks. Synder’s educational webinars, blog and implementer show will not only provide information about their services but also about other timely topics.
Services offered by Synder
1. Financial Reporting
Reporting is an essential element in the accounting process as it provides the base for the decisions. Synder enables companies to generate Income Statements, Balance Sheets and Cash Flow reports automatically. Most importantly, it allows users to get customized reports as per their needs. Further, all the customized and standard reports are at a high accuracy level as all the numbers and calculations are correctly calculated.
2. Automated Reconciliation
Reconciliation will be a nightmare for E-Commerce companies, which used different sales channels. Synder simplifies the reconciliation process by automating reconciliation across the sales channels. Most importantly, its’ automated rules and data classification features will speed up the reconciliation task and reduced the complexity involved.
3. Invoicing
Synder enables users to create one–time and recurring invoices effortlessly. Its automatic due date reminders will smoothen the invoicing process. Most importantly, it offers a variety of payment options to the clients, which will eventually help the companies to collect the payments promptly. Further, it collects the information regarding payments and records it correctly in the accounting system.
4. Multi-currency conversion & International sales records
E-commerce companies operate around the world without limiting their services to a particular geographical area. Currency conversion difficulties and lack of knowledge about sales and VAT can be considered as some of the main issues faced by E-Commerce companies. Synder has addressed this tax recording issue by facilitating users to record VAT, Sales, and expenses taxes accurately in their systems. Further, it has provided a solution for the currency conversion issue by adding accurate exchange rates to the identified foreign sales.
5. Expense Calculation with itemization
Synder’s data classification and sales, expenses, product, customer and supplier information itemization can be ultimately beneficial to reduce the time spent in performing a lot of mundane tasks accurately.
Integrations
Synder has integrated with the most popular E-commerce platforms, such as eBay, Shopify, Amazon, Magento, Big Commerce, Woo Commerce and Wix, and can assist businesses in gathering and properly recording payment and sales information in the accounting systems.
Synder has connected with some online payment solutions like square, PayPal, Stripe, Braintree, Bluefin and Payments Pro. These integrations enable users to import details about payments, fees and refunds and facilitate tax preparation and reconciliation. Synder and Gusto collaboration allows companies to import employees’ lists from Gusto to Accounting Software (Xero or QB) or the other way round.
Synder and Accountants
Accuracy and efficiency can be recognized as the most valuable considerations in Accounting. E-Commerce businesses, which operate across multi sales channels, may experience many errors from the data extraction to date recording. Synder allows accountants to synchronize data from all sorts of E-Commerce platforms seamlessly. According to Synder.com, more than 4000 thousand companies are using this amazing software and $ 4B worth of transactions have been processed. These statistics imply the importance of this software.
Further, it facilitates data extraction from different E-Commerce payment platforms, synchronizes sales transaction details from different sales channels and manages clients who are connected to different platforms. Furthermore, Synder enables accountants to extract data from excel sheets, generate financial statements, customize reports with updated information and provide secured and automated payment procedures. All these features add value to the software by automating monotonous tasks and saving valuable time for professionals.