Synder Enhances Accounting Automation for TikTok Shop Sellers
In a significant move for ecommerce accounting, Synder is stepping up its game as an essential automation tool for businesses leveraging NetSuite while selling on TikTok Shop. This shift follows a recent acquisition agreement involving Oracle and a consortium of investors taking over TikTok's operations in the U.S., which further integrates the connection between these two important platforms.
About Synder and Its Core Services
Synder is known for its innovative approach to accounting automation, tailored specifically for the diverse needs of retail, SaaS companies, and accounting professionals. As a proud participant in the Y Combinator S21 program and a recent entrant into the AICPA Startup Accelerator, Synder has earned recognition for its ability to seamlessly connect various sales channels, payment processors, and mainstream accounting systems, like QuickBooks, NetSuite, and Xero. By automating the synchronization of data across multiple sources and ensuring compliance with GAAP revenue recognition standards, Synder significantly enhances the accounting experience.
New Integration Capabilities with TikTok Shop
With Synder's recent updates, merchants using TikTok Shop can expect an automated interface that syncs all relevant transactions directly into NetSuite. This integration captures sales data, fees, taxes, and refunds, creating an organized batch record system that reduces manual data entry and simplifies the month-end closing process. Such features not only streamline operations but also allow finance teams to focus on more strategic tasks instead of routine bookkeeping chores.
Comments from Leadership
Michael Astreiko, CEO of Synder, emphasized the importance of this development, stating, "With Oracle's acquisition of TikTok's U.S. operations, the connection between NetSuite and TikTok Shop has never been more strategic. Mid-sized online retailers depend on NetSuite as their core ERP, and TikTok Shop presents a lucrative revenue stream. We pioneered this integration ensuring that retailers can keep precise, real-time financial records without any complications."
Major Features of the Synder and TikTok Shop Integration
Here are some standout features that come with the enhanced integration of Synder's Oracle NetSuite and TikTok Shop:
- Automatic transaction synchronization from TikTok Shop to NetSuite
- Smart classification of sales, fees, taxes, and refunds
- Streamlined clearing-account workflow that aligns TikTok payouts with NetSuite records
- Balance reconciliation ensures perfect matching between TikTok Shop balances and NetSuite
- In-depth reporting for TikTok revenue categorized by product, sales channel, and time period
- Support for 30+ integrations to maintain unified financial oversight across multiple platforms
By bridging TikTok Shop and NetSuite, Synder empowers fast-growing businesses to uphold financial accuracy, ensure tax readiness, and gain full oversight of their operations.
Contact Information
For inquiries, feel free to reach out to Julia Strunnikova at (415) 539-2507.
Frequently Asked Questions
What is Synder's role in accounting for TikTok Shop sellers?
Synder provides essential automation tools that integrate with NetSuite, helping TikTok Shop sellers streamline their accounting processes.
How does Synder's integration work?
The integration automatically syncs all TikTok Shop transactions into NetSuite, covering sales data, fees, taxes, and refunds while reducing manual entry effort.
What platforms does Synder support?
Synder connects with numerous platforms including QuickBooks, Sage Intacct, and Xero, in addition to its NetSuite integration.
Are there any notable certifications Synder has received?
Synder is recognized as a Y Combinator S21 alum and has participated in the AICPA Startup Accelerator program.
How can I contact Synder for more information?
If you need further details, you can contact Julia Strunnikova directly at (415) 539-2507.
