Finaloop
UnclaimedFull-service bookkeeping and real-time accounting software for e-commerce brands.
Visit WebsiteFreemiumVisit Website
TL;DR - Finaloop
- Provides full-service bookkeeping and real-time accounting software for e-commerce.
- Automates inventory, COGS tracking, and offers real-time financial dashboards.
- Includes expert support, tax services, and specialized features for multi-channel sellers.
Pricing: Free plan available
Best for: Growing teams
Pros & Cons
Pros
- Designed specifically for e-commerce, addressing unique challenges like inventory and multi-channel sales.
- Provides real-time financial data and KPIs, enabling faster decision-making.
- Combines software automation with dedicated human expert bookkeepers.
- Automates complex tasks like COGS tracking and landed cost calculations.
- Offers tax preparation and planning services.
Cons
- May be more expensive than generic accounting software due to specialized services.
- Requires integration with existing sales channels and financial accounts.
- The initial setup and data syncing might take some time depending on data volume.
Preview
Key Features
Full-service bookkeeping by expert teamReal-time e-commerce accounting softwareKPIs and e-commerce accounting in one dashboardAutomated inventory and COGS tracking (FIFO)Tax returns and tax-planning insightsP&L, Balance Sheet & Cash Flow statementsInvoices & bills managementLoan reconciliation
Pricing
Freemium Free Trial
Finaloop offers a generous free tier with optional paid upgrades for advanced features.
About Finaloop
By Toolradar Team·
Finaloop provides a comprehensive accounting solution specifically designed for e-commerce businesses. It combines real-time accounting software with dedicated expert bookkeeping services, aiming to automate and simplify financial management for online sellers across various channels like Shopify, Amazon, TikTok, and more.
The platform offers 100% accurate books available 24/7, real-time KPIs, and automated inventory and COGS tracking. It helps businesses gain financial visibility, streamline operations, and prepare for taxes with specialized e-commerce accounting practices like accruals and multi-channel order reconciliation. Finaloop is ideal for DTC, multi-channel, and wholesale brands looking to move beyond traditional accounting methods like QuickBooks and spreadsheets, offering a tailored solution for their unique inventory and sales complexities.
Beyond daily bookkeeping, Finaloop also offers catch-up bookkeeping services and tax packages, including federal and state tax returns and tax planning insights. Its InventoryIQ product provides granular control over inventory, landed costs, purchase orders, and vendor management, ensuring accurate financial reporting for inventory-heavy businesses.
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Finaloop FAQ
How does Finaloop handle inventory costing for multi-channel sellers?
Finaloop's InventoryIQ product provides real-time FIFO COGS tracking, allowing businesses to understand their margins across different sales channels, warehouses, and SKUs. It also automates landed cost calculations, including indirect costs and discounts, to provide an accurate cost per unit for inventory sold through DTC, e-commerce, retail, or multi-channel operations.
What specific financial statements and reports are included in Finaloop's full bookkeeping service?
The full bookkeeping service provides a comprehensive suite of financial statements and reports. These include a Profit & Loss statement, Balance Sheet, Cash Flow statement, and detailed insights into invoices, bills, and inventory management. Users also gain access to loan reconciliation, multi-channel order tracking, and key performance indicators (KPIs).
Can Finaloop assist with tax preparation and planning for e-commerce businesses?
Yes, Finaloop offers a tax package that includes federal and state tax returns. This service also provides tax-planning insights, helping businesses identify potential deductions and optimize their tax strategy.
What is the process for new users to get their historical financial data integrated into Finaloop?
New users connect their banks, credit cards, business apps, and loans to Finaloop. Within 24 hours, Finaloop provides a fully reconciled P&L and Cash Flow with the last two months of data. For businesses behind on their books, Finaloop can also perform catch-up bookkeeping from the beginning of the year upon request.
How does Finaloop manage purchase orders and vendor relationships?
Finaloop's InventoryIQ allows users to create, track, and manage purchase orders (POs) and their associated costs within a single dashboard. It also tracks the status of shipments for each PO, providing visibility into inventory in-process, in-transit, and on-hand, and offers centralized vendor management for tracking balances, bills, and payments.
Source: finaloop.com