The Finaloop bookkeeping team covers your ecommerce bookkeeping and eliminates over 90% of manual tasks. Through out the month, we may still need some operational inputs since you know your business better than anyone.

On an ongoing basis we'll need help with the following tasks:

1. Adding input on specific transactions we need help categorizing (approx. 10 mins a month)
2. Updating landed cost per SKU in Shopify or Finaloop for real-time COGS or pulling COGS from IMS, if not using InventoryIQ.

You can also leverage Finaloop's smart tools for your daily financial operations or use Finaloop Premium and get this done with our team. Financial operations include:

1. Adding vendor bills to Bill.com or Settle (which sync to Finaloop), or directly to Finaloop
2. Creating B2B invoices in Shopify, PayPal, or Stripe (which sync to Finaloop), or directly in Finaloop
3. Other financial operations customized for your needs.

Your Finaloop subscription includes full bookkeeping services performed by a team of ecommerce bookkeeping and accounting experts using our real-time ecommerce-tailored software. You can also subscribe to our Premium plan for support with your financial operations and for a monthly review with a dedicated ecommerce accountant.

For both Core and Premium plans, you get 24/7 reconciled financials (P&L, Balance Sheet, Cash Flow); unlimited app & bank integrations, cash and accrual flexibility, inventory for ecommerce and wholesale, real-time transaction categorization, 3-way sales reconciliation (order–>payout-->bank), invoice and bills reconciliation, status of multichannel orders, sales tax liability tracking, income tax deduction optimization, and 24/7 ecommerce expert support!

You can check out more details on our pricing page

Nope! Finaloop is not a DIY tool.

Finaloop is run by your Finaloop bookkeeping team. As a comparison, if Quickbooks or another DIY accounting software is like a car, Finaloop is a car plus a driver. We'll drive it for you, but we may need some directions from you along the way!

The directions we need typically relate to operational inputs. Specifically, on an ongoing basis, we would need input regarding:

• Adding vendor bills in Bill.com or Settle, from where Finaloop can sync the data directly, or uploading a pdf bill directly to Finaloop where we can add it to your books
• Creating B2B invoices in Shopify, PayPal, or Stripe, from where Finaloop can sync the data directly, or issuing invoices directly in Finaloop to your wholesale customers
• Inventory & COGS - Update landed cost per SKU in Shopify or Finaloop for real-time COGS.

For help with the operation inputs, you can also subscribe to our Premium plan.

You can learn more on our pricing page.

Unlike QuickBooks, Xero, or NetSuite, which are all accounting DIY software/ ERPs, Finaloop's Core and Premium bookkeeping plans both include a full-service bookkeeping solution that replaces your accounting software, bookkeeper, app integrations, and even your inventory spreadsheets. If you choose Finaloop Premium, we also cover other aspects of running your back-office.

While DIY software like QuickBooks and Xero require a separate bookkeeper for accuracy and tax readiness, Finaloop is a white-glove service that takes full responsibility for your books and year-end tax closure. Our team of ecommerce accounting experts continuously reviews and supervises your books, ensuring unmatched accuracy at a fraction of the cost of QBO and a bookkeeper.

Finaloop serves as your single, reliable source of truth for your finances, offering 100% accuracy.
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QBO is simply not designed for online brands, while Finaloop is. We offer 100% accuracy as our data is consistently validated against your apps' own data and your banks. Finaloop runs numerous reconciliation processes in the background, including 3-way order-payout-bank reconciliation, independent app validations, 'money-in-transit' reconciliation, timing difference mitigation, FX adjustments, inventory reconciliation, interest recognition, and full revenue reconciliation . It would take hours for a bookkeeper to manage this manually, and even a highly skilled bookkeeper may still make numerous errors, inaccuracies, and omissions due to the challenges of managing the volume, dependencies, and complexities of the data.

You don't have to pay for any additional services if you have the capacity to work with us, and provide the minimum inputs or actions as a brand operator.
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Your Finaloop bookkeepers are always 100% responsible for the full, end-to-end bookkeeping process and getting you fully accurate and reconciled books.

Some brands - typically in a hyper-growth stage - don't always have the internal capacity to perform their own financial operations (e.g., adding vendor bills and creating B2B invoices) or need strategic financial and planning advice that is outside of the scope of pure accounting services. This is what our Premium plan is for.

We help you get set up with the specific services you need.

You don't need to keep your bookkeeper to work with Finaloop!

Your team of Finaloop ecommerce experts is responsible for the complete bookkeeping process and ensuring your books are 100% accurate. 

Depending on the size of your business and the complexity of your financial operations outside of the normal bookkeeping process, you may decide to consider our Premium plan, or keep on a part-time bookkeeper to help with specific operational tasks such as, adding and managing your vendor bills, creating B2B invoices, and updating landed costs per SKU.

Nope! For a lot of our customers, founders prefer to work directly with their Finaloop bookkeeping team and manage their financial operations themselves, especially for smaller brands. 

As your brand grows or your complexity increases, you may decide to reassess and change your financial stack. Finaloop can help set up the best financial stack for your needs.

Finaloop manages your bills (AP) and invoices (AR) in your books whether you are on a cash or accrual basis.

For vendor bills, we can sync your open bills from Bill.com or Settle or you can add them directly to Finaloop - we created tools to help you easily upload your pdf bills to Finaloop, and our system will read them and add them to your books. For invoices, we can sync them from Shopify, PayPal, or Stripe, or you can issue them directly from Finaloop to your wholesale customers. If you are looking to outsource these tasks, check our our Premium package and we can help with your financial operations needs.

Yes! We work with lots of external Fractional CFOs and CPAs brought to us from various customers. We’re happy to answer any questions they have about working with Finaloop and the additional value they can bring to you when using our real-time, ecommerce-focused accounting reports to provide their FP&A services. 

1. Your business’s federal income tax return. International tax forms 5472, 5471, 1042-S, etc., and non-standard tax forms such as Form 2553 are outside of scope.. For details on specific forms, check out this article.

2. Includes 1 State income tax return. Each additional State tax return, if required, is subject to an additional fee of $200 at the time of filing.

3. Tax optimization. We'll work to get you all the tax benefits and deductions available.

For additional tax forms, individual tax return filing, and tax consultancy, a customized fee will be agreed.

No, you don't need a Fractional CFO to work with Finaloop. As your brand grows and complexity increases, you may choose to bring one on.

Typically, when you have cash to invest in growth and you need help making strategic decisions about where to put the cash, it's a great time to consult with a Fractional CFO. Fractional CFOs can help your ecommerce brand with tasks such as financial modeling, cash flow analysis, budgeting and forecasting, risk analysis and assessment, performance measurement and benchmarking, IT system selection, implementation support, and fundraising. 

You have a couple of options for filing your taxes when you use Finaloop. No matter which you choose, Finaloop helps get you tax-ready financials, creating a hassle-free and smooth tax season.

You can use Finaloop’s full service tax solution or you can use an external CPA of your choice to file your taxes. Please note that the tax preparation services are not included in your bookkeeping subscription. Tax is an add-on service you can add to your Finaloop subscription. Check out more details on our pricing page.