# Connecting Payroll apps - Gusto

Written by Emily Burrows  
July 15, 2024

## **1. About**

This article describes the key features /benefits of using Gusto as a payroll provider and explains how to integrate Gusto with Finaloop.

Once the integration is active:

- **All payroll expenses, payroll taxes, contractor payments, and reimbursements** are synced from Gusto and recorded directly to your P&L or Balance Sheet (as relevant).
- **Bank payments** to Gusto are matched with the data we sync from Gusto. This ensures granular breakdowns and full reconciliation and prevents double counting of expenses.
- **Finaloop automates the breakdown of salaries & wages** into different P&L categories, like marketing, shipping, G&A etc to the extent this data is broken down in Gusto.

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## **2. Gusto key features**

Here’s a summary of the key features and benefits you get when using the Gusto-Finaloop integration.

### Daily accruals

For books managed on an accrual basis, payroll expenses will be recorded daily.

### Department mapping

Ability to allocate direct/indirect payroll expenses, as well as contractor payments, to specific categories based on employee/contractor names or their departments defined in Gusto. Such as:

- Production
- Marketing
- G&A
- R&D

### Breakdown per personnel type

Detailed breakdown by:

- Employees
- Owners
- Contractors

### Full and automated reconciliation with bank transactions

Full matching to:

- net payments from the bank
- Payments to contractors
- check payments
- tax payments
- reimbursements

Payments to third parties such as trust companies or insurance companies for retirement and benefits (e.g., 401(k)).

### Category mapping

Automates the breakdown of salaries & wages into different P&L categories based on mapping departments in Gusto or based on mapping specific employees.

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## **3. Connect Gusto to Finaloop**

Connect Gusto to Finaloop with just a few clicks.

**> To connect Gusto to Finaloop:**

01. Go to **Settings > Integrations** and scroll down to **Backoffice apps.**  
02. Click on Gusto to connect your account. This will redirect you to the Gusto sign in screen.  
03. **Log** into your [Gusto](https://app.gusto.com/login) account.

04. From **Settings**, click the **Gusto Admin** tab.  
05. Click **Add new admin**. A new screen opens.  
06. Select **Not an employee** as the employment status.  
07. Complete the form with the following information:

- **What does this person do?:** Accountant  
    - **What will they help with?:** Take care of taxes and reporting  
    - **First Name:** Accountant  
    - **Last Name:** Finaloop  
    - **Email:** [accountant@finaloop.com](mailto:accountant@finaloop.com).

08. Click **Add** admin.  
09. That’s it, you’ve now connected Gusto payroll with Finaloop.  
10. From the Finaloop menu pane, navigate to **Payroll > Employees** to access payroll data for personnel in your Gusto account.

11. Click **Payroll > Categories Mapping** and turn the toggle ON if you want to allocate payroll to different categories by department or by personnel.

## **4. When is Gusto data available in Finaloop?**

Once you’ve run payroll, it can take 1-3 days before you see the transactions in Finaloop.