Finaloop

I am updating my review. Out of frustration on my last review, which was not really the issue on Finaloop but with my banks. Finaloop has gone above and beyond to rectify this for me. I really love the interface and overall seamless integration. They have the best customer support and are there to help. Thank you again Finaloop team.

I 100 percent find Finaloop as my hero! I haven’t been able to subscribe yet because I need 1/1/23 and on but I did the free trial and support was amazing through it. It matched my Shopify 100 percent almost and I could’ve helped make it match all the way. I look forward to coming to them when I get my books done and 2023 taxes filed. However I won’t if I have to keep learning all this on my own and I get it to match on my own. I have been a sole proprietor LLC since 2021. I am one person, I make profit of 8-10k a year and since March of 2024 bc of my books being a mess after a cpa who wasn’t familiar with commerce or Shopify got me for over a year now I have no books. I’m determined to learn this on my own since I’ve invested 80 perfect of my shop income to learn it since March 1 and thrown over $100 in integration apps since then. I never paid Finaloop a dime and they not only keep me from paying for qb but they lay it out and ask questions when not sure via your tasks. 30 for qb online or 65 for them who handles 3rd party payouts and literally all of it for $65 and don’t require qb to send it too!

They even gave me a deal for catch up from 750 to 500.

They are great

Truly amazing!
I don't review much and will sound like a fanboy here because I am. I want to help these guys all I can because they are great.
Finaloop is MADE FOR ECOMMERCE.
Not only is Finaloop a very well designed app with an intuitive, deceptively simple UI that makes it a breeze to use, it's also a FULL FLEDGED bookkeeping and accounting system that replaces QuickBooks, Xero, etc.!
We've been looking for a QBO alternative for years - Finaloop is not only an alternative - it is FAR SUPERIOR.
And that's not all! Finaloop is a real accounting firm so they can literally become your accounting department and even do your (US business) taxes! Your books are monitored by a full staff of human accountants that are always there to help!
Finaloop has revolutionized our bookkeeping/accounting by removing all the stress, reducing bookkeeping time to a few minutes a month (!!) and providing reports that we can trust.
No more reconciling bank, CC, PayPal statements EVER - Finaloop does it all in real time.
Finaloop processes raw data by read-only access to the original sources so the numbers are 100% accurate.
AP and payroll are effortless with Settle and Gusto integrations. Many more integrations are available.
They're also developing an inventory module that will be amazing.

I don't care about the app - I just care about my books being handled accurately while I run my business.

They seem to be unable to handle AR on orders received through Shopify. If you process orders (wholesale especially) that are paid later through stripe, check, anything that isn't shopify payment processing, they are unable to handle it. It's almost as though they haven't seen the situation before where balances move out of AR once they're paid. I've been working with support for over a month trying to get this clean for 2023 taxes - well after I paid for the full "cleanup" to move onto their system - and the numbers are still way off.

The kicker is that I keep getting messages from their support about things I need to do manually in order to classify and clear transactions. If I wanted to do my own bookkeeping, I would do it on QB for less.

As for "real time" advertised, the following quote is the text that's been on my year-end closing page for quite some time. How does this meet the hands-off, real-time ecommerce accounting service that's advertised?

"Our team will review the inputs.
The process takes up to 2-4 weeks after all data is provided, but it can sometimes take as little as a few days.
We will update you if additional info is required."

I chose Finaloop for its ease of use and their boast of 100% accuracy. Unfortunately, both fell short of my expectations. While the platform offers advanced features, I encountered several inaccuracies and found the process to correct them frustratingly slow. The concept is promising, but the execution and customer support need improvement.