Case Study: Canada-based Businesses streamline tax and multicurrency bookkeeping with Synder

Canada-based Businesses streamline bookkeeping and save 40+ hours monthly with Synder

The customer, a Canada-based business, faced the significant challenge of managing complex multi-tax obligations and multicurrency transactions due to shifting global tax rules and fluctuating exchange rates. To address this, they implemented the multi-tax and multicurrency functionalities of Synder, an accounting automation software.

Synder provided a solution by seamlessly integrating with the business's QuickBooks Online and Xero accounts. The software automated sales tax calculations and reconciliation, using Smart Rules to accurately apply varying tax rates based on sales destination. For multicurrency management, Synder synchronized international transactions, allowing them to be recorded in either their original currency or converted to the home currency. This resulted in accurate record-keeping, ensured tax compliance, and streamlined the entire bookkeeping process, saving users over 40 hours monthly on accounting tasks.