p/synder Easy accounting for e-commerce and SaaS

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Synder - Easy accounting for e-commerce and SaaS

Gustaf Alströmer

•

3yr ago

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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Michael Astreiko

Synder

Maker

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