Imagine someone could do all your bookkeeping tasks for you, in real-time. Well…this is no longer a dream.
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Finaloop Books Features
Real Time Bookkeeping

Finaloop processes your financial data, and accurately prepares and closes your books. Have an upcoming investor meeting? Decided to apply for a business loan? No worries. Finaloop gives you full access to your financial statements, whenever you need them.

Smart Platform, Human Heart

Our A-team of bookkeepers, CPAs and tax experts review your books to ensure your transactions were accurately classified and recorded.

More than 'Just' Bookkeeping

Each business is unique. While performing your bookkeeping tasks, Finaloop shares valuable data insights with you. Whether it is an unexpected cash-flow issue, untapped tax deduction, or a cost cutting opportunity, we ensure you pick these up at the right time.

We are Here for You, Anytime.
From initial to complex inquiries, from inception to exit. our team of experts has got you covered, providing prompt responses to help you navigate the ins and outs of bookkeeping, financial operations, tax planning and reporting of your eCommerce brand, retail business or startup.
Books FAQs
What does Finaloop's Books product include?

Books includes a full bookkeeping service start to finish. Finaloop conducts all your bookkeeping tasks for you and give you access to your intuitive financial reports through your Finaloop dashboard.

The main (and most important) reports we are creating are Balance Sheet, Profit and Loss and Cash Flow reports. You can always create and download other reports such as General Ledger or Trial Balance Sheet if you want.

We make a lot of effort, to ensure our bookkeeping process is hassle-free. It means that we create penny-perfect financial reports, and approach you only if there is no other possible way to understand or analyze a transaction.

Our experts are always available to answer questions, provide guidance or address issues.

How does bookkeeping work with Finaloop?

Finaloop securely integrates with your financial applications, and sync your transactions into the Finaloop software. This includes transactions from your current bookkeeping software (upon) transitioning to Finaloop, bank and credit cards transactions, online stores and POS software, payment processors, invoicing, billing and payroll services. Finaloop will categorize, match and reconcile your transactions in real time, so you have access to your financial reports whenever you need them.

Through the Finaloop Transactions Module, you will be able to view the classification of each transaction. Your intuitive financial reports will be available in the Finaloop's Reports Module.

Our books are tax-ready with adjustments made on an ongoing basis. Your team of experts is always a call, an email or a chat away.

I have some cash transactions; can I still work with Finaloop?

Finaloop fits businesses that transact via other cloud services.

Having said that, if 15% or less (ballpark) of your transactions are cash based, Finaloop can still support and serve your business.

What are the differences between Finaloop and QBO, Xero and others?

Bookkeeping software, as QuickBooks Online (QBO), Xero and others, is a program that lets you manage your bookkeeping and accounting. As such, it requires a bookkeeper's work, thinking and time. Your bookkeeper will use the bookkeeping software to classify transactions, enter bills, collect invoices, match wires and payments, prepare ongoing filing and reconcile discrepancies. A Tax CPA will then plan and prepare your ongoing and year-end tax filings.

Finaloop is your bookkeeper, accountant and tax CPA. Finaloop subscriptions include a modern dashboard, tailored specifically for your needs, that integrates with your existing tools and composes your most important financial and tax data, in real time.

Let's think about cars for a second. A car will not drive (…not yet) without a driver. So does bookkeeping software without a bookkeeper and Tax CPA. Finaloop provides the perfect car, and a great group of exceptional drivers for a fraction of the cost you would have otherwise pay.

How does the transition from my bookkeeping software work?

It is very simple.

As part of your onboarding process, we will securely connect your current bookkeeping software (e.g., QBO or Xero) with Finaloop. We will securely sync your historical information into Finaloop, and start your free trial. Once you decide to subscribe with us, you will no longer need an active bookkeeping software account. <br

You are the sole owner of your information. If you ever decide to cancel your subscription with Finaloop, your financial information will be saved to a QuickBooks Online, account that you use with any other bookkeeping or accounting firm. It cannot be easier.

I currently do not use a bookkeeping software, can I still subscribe to Finaloop?

Of course, you can!

If you have offline financial reports such as Balance Sheet and Profit and Loss reports (for instance, financial reports issued by your current bookkeepers or accountants), you will upload them as part of your onboarding process, and we will use them to create your opening balances with Finaloop.

If no financial reports are available, Finaloop will compose your financial picture based on your other financial applications, and immediately start working on your books.

Can Finaloop support if I’m behind with my bookkeeping?

In general, catch up accounting is required when your books are not up to date when subscribing to the Finaloop service. When you join Finaloop, we want to create a clear baseline for starting our work. We charge $85 fee for every month of bookkeeping catch up, a fraction of what you would be anywhere else.

Once you onboard with Finaloop, we assess your books and can let you know more about the level of catch up required.

If you have specific questions about the status of your books, feel free to contact our bookkeeping experts.

Does Finaloop support accrual as well as cash bookkeeping?

Yes. We choose the best bookkeeping method based on the nature of your business, your tax filing history with the IRS, and your bookkeeping history. You can always choose if you wish to switch bookkeeping method.

Our pricing is just the same regardless of the chosen bookkeeping method.

How will my chart of accounts look?

After interviewing and working with hundreds eCommerce brands, retails, and startups, Finaloop has come up with a perfected chart of accounts to fit the needs and nature of each of our focus groups. As a Finaloop customer, you will have access to your suggest chart of account following your onboarding process. We constantly improve our suggested chart of accounts based on valuable feedback received from our customers.

If you have specific requests for customizations, contact us, and our expert team will make the best effort to accommodate.

Does Finaloop prepare consolidated financial reports?

At this stage, a Finaloop account can service a single business managed by one person or legal entity. We can work on multiple businesses, yet each business will have its own Finaloop account.<br?

We do not offer consolidated financial reports.

Who will I be working with?

A professional accounting team, comprised of bookkeepers, CPAs and tax experts will be working on your account, to support your bookkeeping, operational and tax tasks.

Your account team will take care of all the data entry, bookkeeping, accounting and tax tasks for you. Our team of experts is only an email, a phone call or a chat away, for any question you may have.

Our moto at Finaloop is 'smart platform, human heart'.

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