This guide will give you some more details upon settings that can be customized in Synder to tailor it to your needs for your Stripe Xero integration. To access Settings, click Gear Icon on the top right corner of the app.
1. General settings
1 – You can enable Synchronize automatically ongoing transactions feature that can sync your new coming transactions automatically. If you want to sync your historic transactions, you can also do that with our app. Please, go to import historical data (on the left), set the dates, and click on import.
2 – Skip synchronization of duplicated transactions – when “ON”, transactions that already exist in your QuickBooks Online company will not be synced again.
3 – Apply payments to unpaid Invoice/Bill transactions – when “ON”, once the system encounters a payment that matches an unpaid invoice, it will be automatically applied to it.
4 – Auto-reconcile Xero transactions – The feature helps to automatically reconcile transactions that have been synced via Synder in your Xero accounting company. Please note, reconciled transactions cannot be rolled back via Synder unless you unreconcile them on the Xero side first. Find more information about Synder auto-reconciliation feature for Xero
2. Sales settings
1 – Select a clearing account for your Stripe transactions here. The app creates Stripe Bank Account for you as a clearing account in your Chart of Accounts.
2 – You can prioritize your customer name search on Stripe side by email, description, shipping address or payment method, etc. Just organize them in the order you need. If there are no customer names in your transaction, the app will check first for the options you have at the top of the list to match the name form there.
3 – Applying default customer feature helps you to assign the customer to your transaction. You may choose the name of the default customer from drop-down menu (4) and all your transactions will be synced under the name of this default customer selected.
3. Products and Services tab
1 – Generic Product – enabling this feature will replace the name of the product from your transaction to selected in the Generic Product name
2 – The app may get the name of the product from the description of the transaction on Stripe side. Make sure you have only one product name in the description field.
3 – Default Product – choose or type in a name to be used if there is no product name to be found in your transaction.
4 – You need to set the account the new products will be associated with when they are automatically created by the app. All existing products will be matched with no issues (in case names are the same on Stripe and Xero sides).
5 – Product mapping – Synder is able to identify existing products in your accounting company and apply them to transactions. If product names in your payment system and accounting company don’t match 100%, fill in the product names from your payment platform in the right field to map it to product names from your QuickBooks in the left field. Check out an additional guide about product mapping feature.
4. Taxes tab settings
Enable fees processing only if you tax your clients on Stripe side (and taxes are reflected in your Stripe), then the app will account for them correctly.
1 – Apply taxes – when “ON”, the system will search for a matching tax code. In case the system cannot find it, a tax amount will be included in the total sum. If you enable this feature, then taxes from your Pin Payments account will be properly reflected (as taxes) in your Xero.
If you disable the taxes the app will put the amount into a separate product line in the transaction.
2 – Sales tax settings. Apply generic tax code – when “ON”, the app will apply the tax rate you specify in the settings to both taxable and non-taxable Sales transaction you sync with the app.
3 – Expense tax settings. Apply generic tax code – when “ON”, the app will apply the tax rate you specify in the settings to both taxable and non-taxable Sales transaction you sync with the app.
5. Fees tab settings
1 – Set the Bank account for your fees to be applied, please note that fees account and sales accounts should be the same. We recommend using Stripe Bank Account for it.
2 – Fee line account, select the account your fees will be applied to.
3 – Fee Supplier – the app will use this Xero Supplier to associate with your Stripe fees. Select available, or type in a custom one, like “Stripe”.
6. Application fees tab settings
1 – Fee Bank account – this setting specifies the bank to which the application fees are applied. We recommend using the same account as in the Sales – Bank account.
2 – Generic Supplier – the app will use QuickBooks Vendor you select to store your application fees. Select available, or type in a custom one.
3 – Fee line account – this setting specifies the category to which the application fees are applied.
4 – Default supplier name – сhoose or type in a default name to be used if there is no vendor name to be found in your transaction.
7. Payouts tab settings
Transfer funds to – please select your checking account here.
The app synchronizes all the sales transactions (and fees) into the clearing Stripe Bank Account, so to reconcile your checking you need to record a transfer from the clearing account to your Checking.
Once you enable Payouts, the app will do this automatically as soon as it will detect Stripe payouts to the bank, so now the reconciliation will take several seconds.
Do you have any questions? We would love to hear from you. Please, contact us via online support chat.