What Is a Gift Card and How Do People Account for Them? A gift card is a useful tool to boost your sales but there are quite a few misconceptions about how to account for them. The most intuitive way would be to register those as your income – like all other products for which […]
Category: Square
How to set up automatic synchronization
Once you finish the connection and setup we recommend testing the app with several transactions to make sure everything looks good (remember you have a free trial once you create a new account in Synder). Once testing is done, you may be confident that automatic synchronization will save your time on manual data entry. The auto-sync option […]
How to sync historical transactions
Manually you can import as many historical transactions from the payment system as needed (the time range of how far back you can go can vary based on your plan). Note: this feature is not available on a trial. Please check out this guide to learn about Synder automatic synchronization mode. To import transactions from […]
How to Connect Your Square to Synder
If there is one problem that most small businesses have it is that they need to record and account for all their ongoing transactions, and in some cases there are just too many of them. Synder solves this problem by letting you connect both your accounting company and your payment platform and synchronize your transactions […]
Reconcile your checking bank account in Xero
In this guide you will learn how to reconcile Stripe/Shopify/Square/LawPay/Ecwid/Pin Payments transactions synchronized by Synder app to your Checking bank account in Xero company. There are two ways to do it: Automated way using Payouts feature (more accurate) Manual way (creating transfers manually from the Bank Feed) 1. Automated way using Payouts feature (more accurate) […]
Customize Square settings
Overview: General settings Sales Products/Services Taxes Fees Application fees Payouts Multicurrency If you connected your company and your account it is high time to customize your settings. You can always find them in the upper right corner of the app: Your Default settings will work for all transaction types from Square. Use “Create additional settings” option only […]
Synder auto-reconciliation feature for Xero
When Synder integrates the payment processor with Xero accounting it creates a clearing bank account for temporary storage of synchronized transactions (same way as the payment processor holds the money for some time before paying them out to your bank). Auto-reconciliation feature allows to mark all the synchronized income and expense transactions in the clearing […]
Apply Tax on Fees in Xero
There are regulations in some countries that require you to pay taxes not only on sales but also on expenses and fees. Even if in your case the taxes on fees and expenses are zero-rated, proper accounting demands that they are recorded as such. Synder allows you to select the tax rate which should be […]
Can Synder sync transactions in multiple currencies to Xero?
The answer is Yes. Synder will sync transactions in foreign currencies to a clearing account in your Xero Chart of Accounts and then transfer the funds to your checking account. The setup for all transactions to be put into one account is ready by default, so there is no need to do anything besides synchronizing […]
