SAN FRANCISCO, April 8, 2021 /PRNewswire/ — Synder (https://synderapp.com/), smart accounting software for SMBs and accountants, joins hands with GoCardless (https://gocardless.com/) and IntegraPay (https://www.integrapay.com) to facilitate cashless payments via direct debit or credit cards for small and medium businesses. Synder automates the management of cashless payments, including accounting, reconciliation, invoicing, and more. Furthermore, Synder launches ‘Organizations’ – a specially designed feature that enables accountants to efficiently manage multiple clients within a single interface.
Joining forces to power up payment management
Businesses need to be able to provide customers with a convenient way to pay for products or services. At the same time, they need a means to easily collect and manage payments, as well as correctly import the payment data into accounting for future analysis, sales and tax reporting, and tax filing. Here’s where GoCardless and Synder can help you to do both. The tandem of the two platforms allows businesses to not only offer safe and convenient payments on account and reduce late payment rates, but also helps to accurately bring detailed transaction data for recurring, multi-currency, and historical payments into accounting and accurately categorize it for simpler reconciliation and more informative reporting.
Easy accounting for cross-border and historical payments
Accepting recurring payments around the world is the foundation of GoCardless services. Synder helps businesses to account for such transactions with ease. The pain of processing multi-currency transactions fades away as Synder automatically adds correct conversion rates to QuickBooks and Xero invoices. Businesses can go back in their sales history to import historical payment information from GoCardless to QuickBooks or Xero whenever they need it.
Two-step reconciliation with maximum precision
Synder achieves outstanding accuracy of financial reporting thanks to the two-step reconciliation performed between the GoCardless and checking bank accounts. Synder automatically creates a clearing account in QuickBooks or Xero to fetch payment information from GoCardless invoices and sales receipts with full detailing, including fees, taxes, and refunds, for further reconciliations.
Advanced categorization of taxes, expenses, and inventory
Synder provides advanced tools that allow making smart adjustments for sales and processing fees categorization, easy tax reporting, and inventory tracking. GoCardless customers can assign classes to income or processing fees based on the amount, description, memo, or other details in their transactions. All specified information gets applied automatically in the right lines in QuickBooks or Xero for accurate financial reporting.
GoCardless is a global leader in recurring payments. Its technology platform is designed to collect Direct Debit payments from customers and is optimized for taking invoice, subscription, membership, and installment payments as well. The GoCardless bank network is processing US$20bn of payments a year, proudly serving 60,000 businesses across more than 30 countries around the world. Learn more at GoCardless.com
Complete automation of recurring and one-off payments
IntegraPay focuses on delivering customized solutions, from one-off payments to complex recurring payments tailored to any business needs. Synder helps facilitate these operations by fully automating payment information import into accounting systems, such as Xero or QuickBooks. The integration ensures zero errors in financial data migration and smooth synchronization workflow requiring minimum human involvement.
Comprehensive fees and tax data import for smooth reconciliation
IntegraPay offers a wide range of options for businesses with subscriptions and regular fees. Synder helps these specified charges to be applied automatically in the right lines in Xero or QuickBooks. All financial information is gathered accurately by Synder with full details, including fees and refunds information, sales and expenses taxes. This allows further reconciliation and tax reporting tasks to be performed frictionlessly.
Always detailed gross and net income calculations
The integration aims at providing both businesses and professional accountants with a seamless payment experience. Synder applies IntegraPay payouts in Xero automatically once the settlement has been made. All charges and the net payout from IntegraPay are recorded with precision, indicating the gross and net income difference. As a result, the profit and loss reports in Xero show the actual financial state of the business.
IntegraPay is licensed Australian payment services provider, powering billions of real-time and subscription payments annually for Business Software and Management Solutions both locally and around the globe.
Our industry experience and specialist sector approach for Accounting, Health and Fitness, Utility industries has helped us deliver transparent, secure processing solutions for thousands of Australian businesses.
In 2020, IntegraPay was purchased by Payrix – Payrix is a global leader in payment technology. Learn more at IntegraPay.com
Synder is rolling out a new ‘Organizations’ feature. The feature allows accountants to keep track of the financial flows from payment platforms to accounting systems for each client’s business separately, but within a single workspace, and helps to add more flexibility and transparency to their workflow, as well as build winning relationships with clients.
What is this feature?
In simple terms, an Organization is what you create in Synder to keep track of the financial flows from payment platforms to accounting systems for each of your clients’ businesses, separately and at the same time.
What is the benefit for accountants or bookkeepers?
No more calculating how many clients your pricing plan will cover. Now your accounting software will have room for every business client on your waiting list as there is no limitation on how many organizations you can add and operate with.
Synder is smart software for e-commerce, SaaS and other businesses that work with high volumes of online transactions from various payment sources. Synder helps to synchronize online payments with accounting, automates bookkeeping, invoicing, and reconciliation for online and e-commerce businesses, and also allows accountants to manage multiple clients within one single interface.
In 2020, Synder processed a stunning $1 billion worth amount of transactions for e-commerce, and reached more than 1100 5-star customer reviews on the QuickBooks App Store. Find out more details at Synderapp.com.
SOURCE Synder by CloudBusiness Inc.