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Synder — Easy accounting for e-commerce and SaaS
If you run Shopify and Amazon stores with several payment methods or a subscription-based business, you can finally connect them into one ecosystem and get an instant overview of your multi-channel cash flow, automate accounting and inventory management.
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Hey, great idea.
For stripe i can only specify one xero bank account for payouts - but we actually have two, since we charge both in USD & EUR. Is there a workaround?
USD stripe revenue -> USD bank account in xero
EUR stripe revenue -> EUR bank account in xero
@almasabulkhairov Thank you for the question! Synder gives you the ability to synchronize multicurrency transactions properly selecting several accounts if that is needed. In order to synchronize multicurrency in Xero via Synder, please enable the multicurrency feature in Xero. Then open the Synder settings, go to the Payouts tab click gear icon and select bank accounts for different currencies, and those payouts that in USD currency will go to USD account, and in the EUR, to the other EUR selected account. Learn more in this guide >> (https://synder.com/help/synchron...)
This is an amazing idea and the product itself is awesome 👏 . Congrats on the launch guys!
Synder solves real life problem automating routine tasks for accountants. Clear value proposition and great track record of excellent customer support service. Good luck Michael and the team!
That's nice! Thanks for the recommendations. It should be very comfortable to use. In general, if you work is crucial to have some apps or software that help you get a better grip on your personal finances or tidy up your investment portfolios. On playlouder.com, I found more options, and I chose the one that suited me the best. I use Personal Capital because I am an investor, and it manages my investments very well. The standard version is for free, but I use the Premium one because I avail direct investment management from the Personal Capital team and guidance from a personal advisor. It makes my life easier.
@madeleineglover Yes, as soon as I heard an application that can connect earnings with Shopify and Amazon, I immediately installed it on my phone and on my computer. And because of this, it became easier for me to pay sales taxes because I could finally immediately calculate my earnings and https://www.paystubcreator.net/. When I discovered a service that deals with automatic receipt calculation, I immediately started using it. In short, now technology allows you to spend much less time calculating taxes. At any time, you can use a service that will immediately calculate the salary and taxes that a person must pay when filling in the data.
Thank you, Gustaf! Glad to have been hunted by you!
Hey Product Hunters! 👋
I’m Michael (@michael_astreiko), co-founder, and CEO at Synder. So happy to present Synder to the PH community today!
💡Who we are and how it started:
Our roots are in the online accounting industry and for the last 7 years, we've been developing software tools for accountants and bookkeepers. However, while accepting subscription payments, every single month we had to fight discrepancies in our own books and update the balance sheet manually logging in to Stripe than PayPal then calculating it in an excel file. It led us to the idea that to grow faster we need to have a single source of truth about our financial health that we can rely on. And of course to have all updated financial metrics for a good discussion with potential investors without spending too much time on preps.
We dived into this problem and learned that modern online sellers, on average, have 2 sales channels and several payment methods in operation. Last quarter e-commerce skyrocketed by 40% (and continues growing). Synchronization of multi-channel activity and reconciliation became a new challenge for online sellers. To run your business and get prepared for tax filing, you have to keep your P&L, balance sheet, and inventory updated on a weekly (better daily) basis. Therefore again you spend sleepless nights consolidating data in spreadsheets, checking bank statements, fighting discrepancies, and making manual inventory adjustments…
We decided to help e-commerce businesses sleep better 🤓
🤖 We are glad to introduce Synder:
Synder helps you automate accounting and record all sales and merchant fees across multiple channels in real-time into the accounting system making it a single source of truth about your business activity. As a result, you have:
- An auto-updating P&L with all the details necessary for correct Tax filing;
- Valid data with no double entries, e.g. Synder will find order and a corresponding payment in Shopify and PayPal, merge them, and record as one single financial transaction in the accounting system;
- Balance sheets with an actual balance of your payment processors in operation and bank accounts;
- Asset reports with up-to-date inventory on hand across all channels in operation;
- Recurring, one-time invoices and smart payment links to get paid in seconds (powered by Stripe and Square);
- A smart rule engine to create your custom scenarios and automate various back-office processes.
We support all popular sales channels like Shopify, Amazon, eBay, Etsy, WooCommerce, BigCommerce, and payment systems like Stripe, PayPal, Square, GoCardless, and many more. For businesses with complex infrastructure, we support a best-in-class QuickBooks and Xero integration (more than 1,200 customer reviews).
We do our best to continue adding new platforms on a monthly basis, so drop us a line if you are looking for a platform that we don't yet support ✅
🚀 How to get started?
Our product is live and ready to serve your business. If you're interested in trying it out, or know someone who can find Synder helpful, use a promo code: 6ppzkY6s to enable a 1-year 50% discount available only for the PH community 💵
We are always open to new ideas and suggestions! Leave a comment below if you want to share your feedback or contact us at founders@synder.com
It's an amazing product⭐! You did a great job👍 It totally makes sense to automate accounting and move from offline to online! Especially, right now during the whole Covid-19 situation.
Orbital