Synder is an accounting automation platform that synchronizes sales, fees, and taxes from over 30 e-commerce channels directly into accounting software like QuickBooks and Xero, ensuring accurate month-end bookkeeping. It addresses the complexities of multi-source data management by providing real-time revenue recognition and streamlined reconciliation for e-commerce businesses.
Funding
$3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TIFounders
Product
Problem
E-commerce businesses often struggle with the complexities of managing financial data from multiple sales channels, leading to inaccurate bookkeeping and time-consuming reconciliation processes. The manual synchronization of sales, fees, and taxes from various platforms into accounting software is prone to errors and delays, hindering efficient month-end closing.
Solution
Synder provides an accounting automation platform designed to streamline financial workflows for businesses with multi-source data. The platform automatically synchronizes sales transactions, fees, and taxes from over 30 e-commerce platforms directly into accounting software such as QuickBooks, Xero, NetSuite and Sage Intacct. By recording revenue on an accrual basis and offering two sync modes (Summary Sync and Per Transaction), Synder ensures accurate and GAAP-compliant revenue recognition. Its smart duplicate detection mechanism and one-click rollback feature maintain data accuracy, while automated categorization and tax recording simplify reconciliation.
Target Audience
Synder is designed for small to medium-sized e-commerce businesses, SaaS companies, accounting firms, and bookkeepers who need to automate and streamline their accounting processes across multiple online sales channels.
Features
- Seamless synchronization of data from 30+ e-commerce platforms, including Shopify, Amazon, Stripe, Square, and PayPal
- Compatibility with accounting software such as QuickBooks Online, QuickBooks Desktop, Xero, NetSuite and Sage Intacct
- Two sync modes available: Summary Sync and Per Transaction data sync
- Automated revenue recognition to record revenue when it is earned, adhering to GAAP standards
- Smart duplicate detection mechanism to prevent errors and maintain data integrity
- One-click rollback feature for easy correction of mistakes
- Automated categorization of profit and loss (P&L) and tax recording for efficient reconciliation
- Multi-user mode for collaborative access and management
- Robust security measures with SOC2 compliance to ensure data protection
- COGS Reports to accurately determine the profitability of products or services
- Smart Rules to craft custom conditions triggering certain actions to streamline transaction recording