Finaloop – Transforming Ecommerce Bookkeeping for Better Financial Management

Managing finances for ecommerce businesses can be a daunting task. Many businesses struggle with inaccurate books, missed deductions, and limited visibility into their financial performance using traditional bookkeeping methods that are not tailored to their unique needs. To overcome these challenges, businesses need a solution that is designed specifically for ecommerce and provides real-time, accurate, and hands-off accounting. 

That’s where Finaloop comes in. Finaloop is a specialized accounting solution built by brand founders for brand founders, offering tailored bookkeeping services to help ecommerce businesses streamline their finances and make informed decisions based on reliable financial data. 

How does Finaloop Work?

Finaloop simplifies the bookkeeping process for ecommerce businesses. Once you connect your banks, credit cards, business apps, and loans to Finaloop, their team of human experts, combined with automation technology, will build your books in real-time. This means that your financial data will be reconciled and categorized accurately without the need for extensive manual input. You’ll have access to flawless ecomm-tailored profit and loss (P&L) statements, real-time reports, and sales stats on a smart dashboard, providing you with actionable data to make informed decisions.

Moreover, Finaloop’s team of accounting experts is available to provide you with expert support whenever you need it. They can help you catch up on your bookkeeping, breeze through tax time with federal and state tax returns, and provide tax-planning insights to optimize your taxes. With Finaloop, you can rely on their expertise and specialized services tailored to ecommerce businesses to streamline your finances and gain better visibility into your financial performance.

What are the Unique Features of Finaloop: 

Here are the main features of Finaloop that make it an indispensable tool for easing the bookkeeping process for ecommerce businesses:

Automated Data Syncing:

Finaloop simplifies the task of managing multiple financial accounts by automating the syncing of data from your banks, credit cards, business apps, and loans in one centralized platform. This eliminates the need for manual data entry, saving you time and effort in managing your finances.

Real-time Reconciliation and Categorization:

Finaloop leverages automation technology to reconcile and categorize your financial data in real-time. You no longer have to spend hours identifying and categorizing transactions, as Finaloop automatically categorizes most transactions accurately. You only need to provide input for transactions that cannot be automatically categorized. This ensures that your books are accurate and up-to-date at all times, without any manual effort.

Smart Dashboard with Real-time Reports:

Finaloop provides a user-friendly dashboard that gives you real-time access to comprehensive reports and sales stats. You can easily track your profit and loss (P&L) statements, monitor key performance indicators (KPIs), and gain valuable insights into your financial performance. This empowers you to make informed decisions for your ecommerce business, backed by accurate and up-to-date financial data.

Expert Support:

Finaloop understands the unique challenges of ecommerce businesses and has a team of human experts who are well-versed in accounting and ecommerce. They are available to provide you with personalized support whenever you need it. Whether it’s catching up on your bookkeeping, navigating through tax time, or optimizing your taxes with tax-planning insights, Finaloop’s experts are there to assist you. This ensures that you have the necessary expertise and guidance to manage your finances effectively.

Catch-up Bookkeeping:

If you’re behind on your bookkeeping, Finaloop can help you catch up from the beginning of the year upon request. This feature allows you to quickly get your books up to date, ensuring that your financial data is complete and accurate.

Tax Returns and Tax-planning Tools:

Finaloop simplifies the process of filing your taxes by providing federal and state tax returns. Additionally, it offers tax-planning tools that provide valuable insights to help you optimize your taxes and ensure compliance with tax laws. This helps you stay organized and prepared during tax season, avoiding any last-minute hassles.

With these comprehensive features, Finaloop streamlines the bookkeeping process for ecommerce businesses, providing you with automated data syncing, real-time reconciliation and categorization, a user-friendly dashboard with real-time reports, expert support, catch-up bookkeeping, and tax returns and tax-planning tools. These features empower you to efficiently manage your finances, make informed decisions, and stay compliant with tax laws, saving you time, effort, and potential headaches.

Wide Range of Integration Options: 

Finaloop supports integrations with popular ecommerce platforms such as Shopify, Amazon, Woo, Etsy, Square, Facebook, Instagram, Walmart, Bigcommerce, eBay, Faire, Mercari, Squarespace, Wix, and many more. This extensive integration options make it easy for businesses to connect their preferred apps and consolidate their financial data in one place.

Grow Smarter with Strong Financial Data: 

By leveraging Finaloop’s integrations, businesses can access robust financial data from their various business apps in real-time. This allows them to make data-driven decisions, gain insights into their key performance indicators (KPIs), and stay ahead of the competition.

Data Security and Privacy: 

Finaloop prioritizes data security and privacy, utilizing bank-grade encryption and secure API protocols to safeguard the information of its users. Finaloop ensures that no third-party sharing of data occurs, giving businesses peace of mind that their information remains secure and confidential.

Free Trial and Easy Setup: 

Finaloop offers a 14-day free trial with no credit card required, allowing businesses to test out its features and functionalities before committing. Additionally, Finaloop boasts a user-friendly setup process that takes less than 15 minutes to connect apps and set up an account, making it easy for businesses to get started with the platform.

Streamlined Order and Inventory Management:

Finaloop offers seamless integration with popular ecommerce platforms, allowing you to easily track your orders and inventory. This helps you stay organized and ensures that your financial data accurately reflects your sales and inventory levels.

Customized Chart of Accounts:

Finaloop allows you to create a customized chart of accounts tailored to the needs of your ecommerce business. This ensures that your financial data is organized in a way that makes sense for your specific business, making it easier to track and analyze your finances.

Multi-channel Sales Tracking:

Finaloop supports tracking sales from multiple sales channels, such as Amazon, eBay, Shopify, Etsy, and more, in one centralized platform. This provides you with a holistic view of your sales performance across different channels, making it easier to monitor and analyze your business’s financial health.

How to Use Finaloop?

Here are the simplified steps to use Finaloop:

1. Sign up for a free trial: Sign up for a 14-day free trial of Finaloop, and get an exclusive $100 credit.
2. Connect your business apps: Connect your ecommerce business apps to Finaloop, including popular platforms like Shopify, Amazon, WooCommerce, Etsy, and more.
3. Gain insights from robust financial data: Access powerful financial data and track important metrics in a centralized dashboard.
4. Simplify your financial processes: Automate tasks like data entry, reconciliation, and financial reporting to streamline your financial processes.
5. Ensure bank-grade security: Finaloop prioritizes the security of your data with bank-grade encryption and secure API protocols.