Case Study: Klarna simplifies payment reconciliation with Synder

Klarna automates reconciliation and saves 40+ hours monthly with Synder

Klarna, a major global payment service provider, integrated its Buy Now, Pay Later payment gateway into its own and its merchants' ecommerce platforms. This created a significant accounting challenge, as Klarna's complex settlement payouts, which bundle sales, fees, and refunds, did not automatically sync cleanly with accounting software, making reconciliation a time-consuming and error-prone manual process. To solve this, Klarna used Synder, an accounting automation platform.

Synder implemented its solution to automatically import Klarna's settlement data via API. It breaks down each payout into detailed sales receipts within accounting systems like QuickBooks and Xero, accurately categorizing revenue, fees, refunds, and adjustments. This automation ensures the bank deposit amount always matches the accounting entry, enabling immediate reconciliation. The result was a dramatic increase in efficiency and accuracy, saving an estimated $60,000+ annually in deferred staffing costs and achieving over 99.5% reconciliation accuracy across more than 170,000 transactions.

Klarna