Let us talk about Payouts. Payouts mean money transfer from your payment platforms like PayPal, Square or Stripe to your Bank (checking) account. Some of our customers call it money depositing, however it is important to understand that Synder doesn’t touch your actual money at all, it will just account for transfers that took place.
So after syncing your sales transactions (for example payments or invoice payments) from your payment platform you may want to sync Payouts as well. This will make your reconciliation much easier.
In order to enable payouts please follow the instruction below:
- Click on gear icon at the top of the screen
- Go to Payouts tab of settings
- Switch on Payouts
- Select an account for Payouts
- Press Update button
Some of our customers wonder if enabling Payouts may cause duplicate transactions in their company. It definitely is not.
Note: Synder is just processing information from your payment platform to your company, so once transfer to your real bank happens Synder will account for it. It does not create an additional deposit in the bank feed, it will create a matching transaction, so to reconcile you will just click “Match” in your banking tab and you are done. Check more about reconciliation in the Reconciliation guides.