Michael Astreiko | CEO | Synder

Synder: A Revolutionary Software that Automates Accounting for E-Commerce and SaaS Companies

Headquartered in San Francisco, United States, Cloud Business Inc. was founded in 2016 as a business and financial software company that develops and supports financial, and accounting software for small and mid-size businesses and accountants. With a strong belief that technology can help businesses manage their finances better, smarter, and faster, Cloud Business Inc. created a smart solution in the form of Synder.

Synder is a powerful business software that automates a significant part of finance management and provides more accurate and fast bookkeeping for e-commerce and SaaS businesses. It is an accounting automation software tailored to help businesses accurately record and easily reconcile data from different sales channels and payment providers, such as Stripe, PayPal, Shopify in any accounting software.

Imagine having Shopify and Amazon stores with many different payment gateways, and you want them to be easily reconcilable in your accounting software. With Synder, businesses can have detailed transaction data from various sources connected to their e-commerce shop accurately recorded, categorized, and literally reconciled in one-click.

A Way-Out Solution for Businesses

The best solution for business owners, who don’t want to spend too much time and effort on manual bookkeeping, is to consider connecting an accounting automation software, such as Synder. It automatically imports historical and ongoing sales into books, provides detailed information about each payment, and allows reconciliation in just two clicks.

When your books are 100% accurate, you can be sure that you will not underpay or overpay taxes, or wrongly plan annual and monthly expenses. Synder has made creating financial reports quicker and easier. It collects the detailed payment data that is essential for accurate reports and creates the main financial statements regularly to track your business progress.

In a nutshell, Synder helps to:

  • Automate the bookkeeping of your transactions;
  • Reconcile your books in one click;
  • Connect all sales channels and payment gateways within one interface;
  • Provides you with detailed data for sales, tax, and other necessary reports, including P&L and balance sheets.

Distinguished Characteristics

Below are the some of the characteristics that define Synder:

Smart Automation

Synder automatically records and categorizes transactions from all your online payment and e-commerce platforms in your accounting. Capturing necessary business details such as item and customer info, tax, shipping and processing fees, locations, and more, it provides you with instant, detailed, and accurate reports for business analysis and tax filing. Moreover, by using Synder Smart Rules, you can customize accounting processes where you need it. For example, you can apply taxes based on the shipping location automatically, and Synder will use it as a rule for all relevant future syncs.

Super Easy Payment Processing

With Synder Invoicing, you can easily create and send invoices, offering a wide choice of payment methods to your customers, including credit card payments. Thus, you make payments super convenient for customers, and therefore ramp up the payment fulfillment. Also, simple payment links help you turn ANY of your social media pages (like Facebook, Instagram, etc.) into a checkout page with both one-time and recurring payment options, allowing you to get paid instantly. The cherry on top – all your payment information gets into the right place in accounting right away, automatically closing open invoices.

One-click Reconciliation

Synder allows to reconcile the synced data in your accounting books and keep track of any mistakes if such occur. If everything is correct the difference between your accounting platform and actual balance will equal zero.

Extended List of Integrations

Synder integrates multiple sales channels and payment processors such as Stripe, Square, PayPal, Shopify, Amazon, eBay, Etsy, Ecwid, Authorize.net, Pin Payments, BigCommerce, WooCommerce, and GoCardless. You can synchronize all these platforms within a single eco-system and under one account. The process runs automatically in the background, with no need to log in to start synchronization.

Solution for Both, Business Owners and Accountants

Synder is a universal solution. It suits owners of ecommerce businesses who need to receive, process, and manage online payments using a minimal software set. Also, Synder is a solution for bookkeepers and accountants that need to eliminate a great deal of manual data entry. Using the organizations feature, accountants can manage multiple clients within one single infrastructure.

Leading the Pack

At the forefront of the success of Synder is Michael Astreiko, CEO and Co-Founder of Cloud Business Inc. Michael is a results-oriented entrepreneur with a 10 years developer background and a FinTech business experience. He is driven by his passion for technology, IT architecture, customer-centric development, and building a team of rock stars that are ready to drive it all forward.

Providing Quality at Affordable Price

At the moment, Michael mentions that Synder has several main competitors in its business area. “Unlike our competitors, we provide easy to use one spot accounting with the largest number of features,” he says. Synder has the edge in more precise and detailed synchronization and allows users to sync each transaction separately. For example, if you sell via Shopify and get paid via Stripe, Synder will correctly and fully collect the data from both platforms and automatically record all the details in books.

This granular synchronization from multiple sources also provides e-commerce businesses with the ability to accurately track inventory. In addition, Synder supports multicurrency payment synchronization that allows users all around the globe to work with all types of currencies conveniently. Furthermore, the Synder smart rule engine allows users to fill in missing gaps in their books based on indirect conditions, for example, to automatically set tax based on the location or apply a category based on the product name. And last but not least – the rollback feature is a win that is designed to constantly keep the books safe, if they want to change or re-sync the sales.

Helping Businesses Move Online

When asked about the impact of pandemic on businesses, Michael opines that the pandemic has made it hard for some businesses to move to the online model in the changed reality. A lot of companies did not even think they could exist as an online business. That is why, Synder puts a lot of effort into helping them find a solution to successfully move their business processes, including accounting, online with minimal resources.

Michael highlights that Synder has amazing expansion plans for the coming future! The company is planning to strengthen its positions in the US, UK, Canada and Australia markets, as well as to extend the list of features to cover all needs and pains of e-commerce and Saas businesses.

Michael says, “Synder makes the data flow of your business as easy as possible. And we’re sure we can do more in the future!”