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Customer reviews: Finaloop

Develop by Finaloop

Finaloop is a powerful accounting automation app designed to simplify financial management for Shopify merchants. This review covers its features, pros, cons, and real user experiences to help you decide if it’s the right tool for your business.

Reviews (60)

Overall rating
4.9

What Merchants Think

Merchants generally have a positive perception of Finaloop, lauding its ability to simplify the complex world of eCommerce accounting while providing a seamless integration with Shopify and other sales channels. Many users switch from traditional bookkeeping services or platforms like QuickBooks due to the increased efficiency, reliability, and time-saving aspects offered by Finaloop. The app's user-friendly interface and highly responsive support team consistently receive high praise.

Key Strengths

  • Seamless integration with Shopify and other e-commerce platforms.
  • Highly responsive and helpful customer support team.
  • User-friendly interface with real-time financials and accurate reporting.
  • Time-saving automation for inventory and expense categorization.
  • Reduction in bookkeeping costs and elimination of manual reconciliation tasks.
  • Advanced features that replace traditional accounting systems like QuickBooks.

Common Concerns

  • Pricing tier structure based on revenue can be a mismatch for high-margin small businesses.
  • Some users experienced issues with AR handling for non-Shopify payments.
  • Concerns about accuracy and slow issue resolution for certain accounting tasks.
  • Short trial period might not allow enough time to fully assess the platform’s capabilities.

Final Thoughts

Finaloop is widely recognized as a game-changer in the eCommerce accounting space, offering a modern and efficient alternative to more traditional tools like QuickBooks. With its intuitive design and robust feature set tailored for online businesses, the app helps users streamline their financial management. While most feedback is overwhelmingly positive, some users find the pricing and initial adaptation challenging. Overall, Finaloop is highly recommended for businesses seeking an eCommerce-focused accounting solution.

kandi bar

Oct 20, 2024  on Shopify

We love it. Easy to use, great support. rich features.

RopesGear.com

Aug 06, 2024  on Shopify

Promising. I don't like the pricing tier structure since it's based on revenue. If you're a high-margin small biz you might squeeze into the stingy low tier. We're a VERY small retail business with slim retail margins, but our rev puts us just over the line into a somewhat pricey mid tier with companies making 5x what we do. The service seems to work okay, but with only 14 days to try it out I can't say I really got to know its ins-and-outs. Hopefully we can try again with more profit someday.

Guitars on Main

Jun 30, 2024  on Shopify

Finaloop is far more helpful than QuickBooks. You don't have to jump through hoops to get assistance. Bookkeepers assist you in getting everything in order. The software provides automated tasks to keep you on track. It is affordable for small businesses and should pay for itself through the hours you will save. Thanks for a great service!

luxe looks

Apr 24, 2024  on Shopify

perfect support, fast and friendly

glacio

Apr 22, 2024  on Shopify

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.

Mommy && Me Melts LLC

Apr 20, 2024  on Shopify

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

JavaMania Pro

Apr 14, 2024  on Shopify

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."

Mid Century Modern Gal

Mar 27, 2024  on Shopify

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.

MotoTote

Feb 23, 2024  on Shopify

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.

Vayose

Oct 25, 2023  on Shopify

Platform is so easy to use, all my reports are at my fingertips. Anytime, anywhere, 24/7. Whenever I have a problem, the customer service team fixes it SO fast. One of the best customer support teams I've had the pleasure of working with. If you're considering it, dive right in. Hands down the best financial app I've used, and is WAY easier to use and WAY less hectic than quickbooks

Bare Hands

Oct 03, 2023  on Shopify

To say I was frustrated with Quickbooks was an understatement. All of the things that old horse was terrible at — syncing with Shopify, Amazon, Faire and Chase— Finaloop does with ease. Because it's built for a modern e-commerce stack, it has allowed me to reduce my monthly bookkeeping costs by $400/month. I was skeptical of the service before I started, but their team is very responsive and helpful! I wish I'd started this years ago.

BackBadger

May 04, 2023  on Shopify

Finaloop is easy to use and has all the features to keep our business finances organized. The support team was always quick to respond and incredibly helpful. Eli and Thomas, in particular, went above and beyond to make sure that we had everything we needed and were always available to answer any questions we had. Thanks to the great customer service and support team, we were able to get our finances in order and file our taxes with ease. Overall, we highly recommend Finaloop to anyone looking for a powerful and easy-to-use bookkeeping solution.

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