# Your Monthly Finaloop Cheat Sheet

Here's a simple guide to the main actions you'll likely need each month in Finaloop.

Written by Emily Burrows  
December 3, 2025

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# About

Finaloop takes care of about 95% of your bookkeeping for you, and your input on the remaining 5% keeps your financials accurate, up to date, and gives you a full picture of your business.

Here's a simple guide to the main actions you'll likely need to take each month to close the 5% we need from you. Use this as a quick reference whenever you log in, are working through your [Missions](https://home.finaloop.com/missions) or want to double-check how something should be handled.

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# 💳 1. Transactions

There may be some transactions where we still need your input.

1. [Review open transactions](https://help.finaloop.com/en/articles/9820850-categorizing-reviewing-transactions#h_aa6ae7d5bf). Check out this article on selecting a [transaction category](https://help.finaloop.com/en/articles/11424724-choosing-the-correct-transaction-category) if you need some extra guidance.

2. [Split](https://help.finaloop.com/en/articles/9820850-categorizing-reviewing-transactions#h_aa6ae7d5bf) or spread transactions over a period of time.

3. [Record](https://help.finaloop.com/en/articles/9823379-reporting-transactions) personal, related party or any other transactions from non-connected accounts so they’re included in your financials.

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# 📦 2. Inventory & COGS

1. Using our sales-based inventory method? Make sure you [record landed costs correctly](https://help.finaloop.com/en/articles/7175813-how-to-calculate-your-landed-cost-per-unit) so COGS stay accurate.

2. Selling on channels outside Shopify, Amazon, TikTok, or Finaloop Invoices? Update [manual COGS](https://help.finaloop.com/en/articles/6919551-tracking-your-inventory-with-finaloop-everything-you-need-to-know#h_1b7617cd34) for those channels periodically (we recommend at least once a month).

3. Optional (sales-based only): Want to track inventory in process or in transit separately? On your [Purchases](https://home.finaloop.com/inventory/purchases/bills-and-payments) page, adjust the shipping or received dates to track the purchase as inventory in process, inventory in transit, or inventory received.

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# 💰3. Accounts Receivable (AR) & Accounts Payable (AP)

1. Stay on top of customer payments and vendor bills: Have bills with payment terms and don’t use [Bill.com](http://bill.com/) or Settle? [Create your bills](https://help.finaloop.com/en/articles/9477590-managing-your-bills-payables) in Finaloop and [link the payments](https://help.finaloop.com/en/articles/9477590-managing-your-bills-payables#h_d5f951dfad) so open balances stay accurate.

2. Selling wholesale or retail outside of Shopify, Paypal, Stripe, or SPS commerce? [Create invoices](https://help.finaloop.com/en/articles/10313521-managing-b2b-and-wholesale-invoices) in Finaloop to capture those sales!

3. [Link payments to invoices](https://help.finaloop.com/en/articles/10313521-managing-b2b-and-wholesale-invoices#h_ed8b9d395a) to keep your sales and AR accurate or use Finaloop’s [invoice payments](https://help.finaloop.com/en/articles/11651046-getting-paid-with-finaloop-s-online-invoice-payments) to have this done automatically.

4. [Classify and link cash payments](https://help.finaloop.com/en/articles/12284697-tracking-and-managing-shopify-orders-refunds-and-cancellations#h_91b265f035) for Shopify orders so your Shopify AR stays accurate (we’ll take care of any payments through a processor automatically).

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Prefer to speak accounting lingo? If you want to understand the debits and credits behind the scenes in Finaloop check out our in-depth [guide](https://help.finaloop.com/en/articles/11113912-recording-journal-entries-in-finaloop) for a look under the hood.

And, if you need any help at all, reach out to support by chat or email at [books@finaloop.com](mailto:books@finaloop.com). We're here to help!