11 Time-Saving Tips to Synchronize PayPal and QuickBooks using Synder

11 Time-Saving Tips to Synchronize PayPal and QuickBooks

11 Time-Saving Tips to Synchronize PayPal and QuickBooks using Synder

On average, Accountants, Bookkeepers, or company owners spend about 15 hours on manual transactions entering in case they process around 300 online transactions manually during a month. What if you have 1500 transactions a month? Synder reduces 15 hours to 15 minutes, as it syncs Stripe, Square, and PayPal data with QuickBooks Online in seconds and matches all the fields automatically. Why waste time on things that can be done automatically?

Stripe with QuickBooks

Check the 10 time-saving tips to reduce you manual time while entering your online transaction into QuickBooks Online or Xero.

1. Automate the process – We built Synder so that you can forget about manual data entry, while maintaining control over all your data. After testing out the app, you can choose to select and sync transactions inside the app, or enable our auto-sync option to run on the background, without you having to ever open Synder, so that all new incoming and outgoing transactions are reflected in QuickBooks and Xero.


2. Easily test and undo and sync – Synder features a user-friendly rollback option, allowing you to completely undo any transaction you do not want to see in your QuickBooks company, leaving no trace behind.


3. Run a perfect reconciliation – Many QuickBooks users have found that when syncing directly into PayPal,|Stripe|Square connected under Banking they are unable to account for the fees paid or record the refunds made during the accounting month, therefore their checking and QuickBooks balances never match and require a lot of manual input. We have talked to QuickBooks Pro-Advisors that use PayPal and QuickBooks and have come up with a solution to have a perfect reflection of PayPal transactions in QuickBooks by syncing all online transactions into a dedicated bank account, and then transferring that amount into the actual checking account. This reflects the actual money flow when money first hits PayPal (the bank account in our case) and then is transferred into your checking. Learn more here.


4. Sync transactions in multiple currencies – Synchronizing transactions in any currency you receive or make payments in is not an issue with our 5-rated solution. Just make sure you have multicurrency enabled in QuickBooks Online (remember, you cannot undo it) and set up individual bank accounts for each currency you work with to have a perfect overview of each one. You can learn more here.


5. Auto-update your Products and Services – If you run an e-commerce store selling items you have entered into your QuickBooks Online, Synder will be able to pick up on that based by the name of your item (make sure they match between PayPal, Stripe, Square and QuickBooks Online) and automatically update current item information based on the sales receipt.

Selling a new product or service? We will auto-create it as soon as a receipt with a new product/service name is recorded it to eliminate any need to enter it manually.


6. Multiple default options for clean accounting – Many users do not need to track each individual customer, product or even a tax code. Synder gives you an ability to be proactive and set up any default customer name (for example PayPal Customer), product name (e.g. – Online Sale) or choose one default tax code that will be automatically applied to all transactions marked as taxable in your PayPal.


7. Setup in seconds – No complicated setup. Use our auto-created PayPal Bank account for syncing Sales, Fees and Expenses and quickly check the rest of settings, to which you can always go back. This will be just enough for a successful setup. Ask our online support rep to guide you step-by-step if you have any questions along the way.


8. Go into details – If required, you can set up each PayPal type of transaction’s sales, fees, expense, income accounts as well as other settings differently. Supported types of transactions to create additional settings for are as follows: Expense, Express Checkout, Invoice Payment, Money Transfer, Payment, Recurring Payment, Refund from Vendor, Refund to Customer, Shopping Cart Payment, Virtual Payment.


9. Sync historic transactions – You can sync as far back as needed. There is no time limit. Easily sync historic data using the Import old transactions tab in Synder.


10. Connect as many payment systems and QuickBooks accounts as needed – There is also no limit on how many PayPal, Stripe, Square and QuickBooks account you connect. You can choose from any of our available plans to sync more.

11. Be proactive – Synder was developed by an award-winning team behind several successful QuickBooks apps with a unique insight into the Intuit ecosystem and is continually enhanced by consulting with Pro-advisors to address any accounting workflow task connected to Stripe, PayPal or Square.


This entry has 1 replies

  1. Suzanne Brean says:

    I would like more information on creating invoices in QuickBooks and people paying those invoices through Paypal

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