Finaloop vs. LinkMyBooks
Which is better for ecommerce or multichannel accounting?
Trusted by thousands of consumer brands
LinkMyBooks is an integration tool. Finaloop is that, plus your full accounting team and software.
Finaloop vs. LinkMyBooks, a quick breakdown
LinkMyBooks helps organize your store and marketplace payouts, but you still need to manage your books in Quickbooks or Xero, and hire a bookkeeper. Finaloop is a one-stop-shop, replacing your bookkeeper, accounting software, and your integration tools to deliver real-time financials, automated COGS and inventory tracking, and a team of ecommerce experts to handle it all for you.
Finaloop is a full-service ecommerce, multichannel and wholesale accounting service and software that includes real-time bookkeeping service, inventory and COGS tracking, tax ready books, multichannel order tracking, and unlimited native integrations to your ecommerce apps and accounts—no bookkeeper or external apps required.
LinkMyBooks is an automation tool that transfers summarized sales data from ecommerce platforms to accounting software like QuickBooks or Xero, but still requires a bookkeeper or accountant (and accounting software). While LinkMyBooks is a powerful bridge tool, it doesn’t offer financial reporting, reconciliation, or inventory logic. Finaloop handles all of that in one system, with expert oversight included.
Core differences
Functionality
Finaloop is a full accounting solution including ecommerce-specific Chart of Accounts, full accounting software and app integrations; LinkMyBooks is an app integration used as a data transfer tool.
Data Flow
Finaloop generates books; LinkMyBooks feeds raw summaries into other systems.
Support
Finaloop includes an expert accounting team taking care of your books for you; LinkMyBooks is software-only with chat support available.
Setup
Finaloop’s native integrations are automatically mapped and synced to your financials when connecting to Finaloop; LinkMyBooks requires manual mapping to Quickbooks or Xero’s Chart of Accounts, often causing reconciliation issues, double counted transactions, and COGS issues.
Platform Coverage
Finaloop natively connects to ecommerce sales platforms, marketplaces, and payment processors providing a 3-way order-payout-bank reconciliation; LinkMyBooks connects mainly online stores and marketplaces to accounting software, which often requires manual reconciliation.
Why leading brands choose Finaloop
 | | |
|---|---|---|
| Ecommerce Integration |  | |
| Organize data flow | | |
| All-in-one Solution Type | End-to-end accounting service, software, and ecommerce app connector |  Ecommerce app connector |
| Real-time Inventory tracking | Real time COGS tracking with deep platform integrations | Periodic COGS entry based on SKU costs provided by user |
| Tax Ready Financials | Tax-ready P&L, Balance Sheet, Cash Flow, SKU-level dashboards | Feeds journal entries into accounting software |
| Bookkeeping support | Bookkeeping team included | Requires external bookkeeping |
| Full suite of App integrations | Shopify, Amazon, Walmart, eBay, Etsy, ShopPay, PayPal, Stripe, AmazonPay, AfterPay, Klarna, Gusto, Banks, Settle, Bill.com, etc. | Shopify, Amazon, eBay, Etsy → QBO/Xero |
Pricing
Alternatively, if you are looking for a white-glove, fully-managed service, try the Premium service which includes the full Core bookkeeping services plus customized financial operations, data-entry, and controllership for $955 per month.
Finaloop also offers tax filing and Fractional CFO services as add-ons.
Finaloop is the only accounting solution tailored for ecommerce.
Accurate ecommerce books, done for you.
Slash your bookkeeping costs by 60% and get better and faster financials
What you get with Finaloop
available 24/7
team, 7 days a week
accounting in one dashboard
COGS tracking
deductions left behind
FAQs
It's time to hire an accountant when you’re managing multiple sales channels, selling in various tax jurisdictions, or struggling with accounting software. An experienced accountant can streamline your bookkeeping, ensure tax compliance, and help with financial reporting to make better business decisions, especially as your eCommerce business grows.
The best eCommerce accounting services offer integrated inventory management, multi-channel sales integration, real-time financial reporting, and a user-friendly interface. These features help eCommerce businesses manage their financial data across various platforms, track profitability, and make data-driven decisions to fuel growth.
Real-time financial reporting offers instant insights into your ecommerce business's performance. By continuously updating your financial data, it helps you make informed decisions, manage cash flow effectively, and adjust strategies based on up-to-date metrics like revenue, profit margins, and inventory turnover.
Finaloop connects directly to your sales channels, banks, and payment gateways, delivers 24/7 accurate books, and shows real-time margins by SKU—freeing you from manual spreadsheets so you can focus on scaling your brand.
Finaloop Pros:
- Flexible, Growth-Aligned Pricing: Scalable pricing based on your business size, with all-in-one software and services, including real-time COGS tracking and integrations, making it ideal for growing ecommerce brands.
- Comprehensive Solution: Provides a full accounting solution, eliminating the need for external bookkeepers or additional software.
Finaloop Cons:
- Not for Non-ecommerce Brands: Finaloop’s services and software are designed specifically for ecommerce, multichannel, and wholesale brands, so it may not be the best fit for other types of businesses (e.g., SaaS).
LinkMyBooks Pros:
- Low Starting Cost: LinkMyBooks offers a lower entry cost for businesses that only need an integration tool to sync sales data with accounting software.
- Cost-Effective for Smaller Businesses: Ideal for smaller ecommerce businesses that already have accounting software and just need help transferring data.
LinkMyBooks Cons:
- Additional Costs for Bookkeeping: Since LinkMyBooks doesn’t include bookkeeping services, you’ll need to hire a bookkeeper or accountant, which can increase your overall costs.
- Manual Setup and Reconciliation: Requires manual work to map and reconcile data, leading to potential errors and additional time spent managing financials.