# Finaloop vs. LinkMyBooks

## Which is better for ecommerce or multichannel accounting?

Trusted by 2,500+ consumer brands

## Bottom line: 
Link My Books posts sales summaries into QuickBooks or Xero — you still need the software and a bookkeeper. Finaloop is the whole solution in one: real-time ecommerce books, inventory and COGS, and an expert accounting team. Connectors sync your data; Finaloop finishes your books.

## 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.

## Pricing
Finaloop offers flexible, growth-aligned pricing with features explicitly designed for today's ecommerce and multichannel brands that includes both accounting services and the accounting software. LinkMyBooks is an app connector tool that will require an external bookkeeper and accounting software.

### Finaloop
Finaloop's starter plan starts at $245/month for brands with annual revenue of up to $1M. All other brands receive a customized scope and fee based on their specific needs.

### LinkMyBooks
LinkMyBook’s pricing starts at $17 and ranges up to over $1,000, depending on the amount of orders and channels. However, the additional costs of external bookkeeping services and software should be taken into account as well.

## FAQs
### When should I hire an accountant for my eCommerce business?
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.

### What are the key features to look for in ecommerce accounting services?
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.

### What benefits does real-time financial reporting provide for ecommerce businesses?
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.

### How can Finaloop’s ecommerce accounting software boost profitability?
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.

### What are the main differences between Finaloop and LinkMyBooks for ecommerce businesses?  
**Finaloop Pros:**
- Flexible, Growth-Aligned Pricing  
- Comprehensive Solution

**Finaloop Cons:**
- Not for Non-ecommerce Brands

**LinkMyBooks Pros:**
- Low Starting Cost  
- Cost-Effective for Smaller Businesses

**LinkMyBooks Cons:**
- Additional Costs for Bookkeeping  
- Manual Setup and Reconciliation