Finaloop vs TaxCloud Sales Tax Automationfor Shopify (2026)
In 2026, both Finaloop and TaxCloud Sales Tax Automation boast perfect 5/5 ratings on the Shopify App Store, indicating high user satisfaction. However, they cater to distinct needs within the finances category. Finaloop offers comprehensive accounting and inventory management services, aiming to provide real-time financial visibility for ecommerce and multichannel brands. It focuses on full-service bookkeeping delivered by a team of expert accountants through its software, including generating tax-ready financial statements like P&L, Cash Flow, and Balance Sheets. TaxCloud Sales Tax Automation, on the other hand, specializes in sales tax management, including registration, filing, and nexus tracking. TaxCloud's strength lies in automating the complexities of sales tax compliance, especially for multi-channel sellers dealing with sales tax in multiple states. Its participation in the Streamlined Sales Tax (SST) program offers potential discounts for merchants in participating states. Finaloop is tailored toward businesses needing assistance with complete financial management, including inventory syncing and cost of goods sold (COGS) calculations. TaxCloud addresses sales tax, while Finaloop handles broader accounting challenges.
At a Glance
Finaloop
60 reviews
TaxCloud Sales Tax Automation
52 reviews
Detailed Overview
Finaloop
Accounting software + service for ecommerce. Get real-time fully accurate bookkeeping & inventory
Key Features
- Tax-ready P&L, Cash Flow, Balance Sheet, and payable and receivable tracking
- Inventory sync & management (FIFO unit tracking) for ecommerce & retail
- Real-time financial dashboard built for founders
- Full history catch up - whether your books are messy or non-existent
TaxCloud Sales Tax Automation
The sales tax filing partner for your brand, handling registration, filing, and multi-channel nexus.
Key Features
- Sales tax registration and filing with SST savings in 24 member states
- Daily sync of Shopify orders for timely and accurate tax filing
- Responsive U.S.-based support to guide you at every step
- Nexus tracking with alerts for state-by-state compliance
- Automatic TIC mapping using Shopify’s product categories
Feature Comparison
| Rating | 5/5 | 5/5 |
Rating Finaloop5/5 TaxCloud Sales Tax Automation5/5 | ||
| Reviews | 60 | 52 |
Reviews Finaloop60 TaxCloud Sales Tax Automation52 | ||
| Core Function | Full-Service Accounting & Inventory Management | Sales Tax Automation & Filing |
Core Function FinaloopFull-Service Accounting & Inventory Management TaxCloud Sales Tax AutomationSales Tax Automation & Filing | ||
| Target Merchant | Ecommerce & Multichannel Brands Needing Full Bookkeeping | Multichannel Sellers Requiring Sales Tax Compliance |
Target Merchant FinaloopEcommerce & Multichannel Brands Needing Full Bookkeeping TaxCloud Sales Tax AutomationMultichannel Sellers Requiring Sales Tax Compliance | ||
| Ease of Use | Software-driven with Expert Accountant Support | Automated System with U.S.-Based Support |
Ease of Use FinaloopSoftware-driven with Expert Accountant Support TaxCloud Sales Tax AutomationAutomated System with U.S.-Based Support | ||
| Value Proposition | Real-time Financial Visibility & Tax-Ready Financials | Simplified Sales Tax Filing & SST Discounts |
Value Proposition FinaloopReal-time Financial Visibility & Tax-Ready Financials TaxCloud Sales Tax AutomationSimplified Sales Tax Filing & SST Discounts | ||
| Inventory Management | Yes (FIFO Unit Tracking) | No |
Inventory Management FinaloopYes (FIFO Unit Tracking) TaxCloud Sales Tax AutomationNo | ||
| Tax Focus | Comprehensive - Tax-Ready Financials | Specific - Sales Tax Registration & Filing |
Tax Focus FinaloopComprehensive - Tax-Ready Financials TaxCloud Sales Tax AutomationSpecific - Sales Tax Registration & Filing | ||
Our Verdict
The choice between Finaloop and TaxCloud Sales Tax Automation hinges on the merchant's specific needs. For businesses seeking a complete outsourced accounting solution, including real-time inventory management and tax-ready financial statements, Finaloop is the superior choice. It's ideal for businesses struggling with bookkeeping or seeking deeper financial insights. However, if the primary concern is streamlining sales tax compliance across multiple states and channels, especially for those seeking potential discounts through the SST program, TaxCloud Sales Tax Automation offers a more specialized and targeted solution.
In essence, TaxCloud is a specialized sales tax tool, while Finaloop is a comprehensive accounting solution that can handle all facets of finances and inventory in your business. Consider both, but prioritize the one whose capabilities align better with your top-of-mind business needs.
Common Questions
Does Finaloop handle sales tax filing?
While Finaloop provides tax-ready financials, its primary focus is comprehensive bookkeeping and inventory management. It does not specifically state that it directly handles sales tax filing, unlike TaxCloud.
Is TaxCloud suitable for single-state sellers?
TaxCloud can be used by single-state sellers, but its benefits are most pronounced for businesses operating in multiple states due to its nexus tracking and SST participation.
Can Finaloop integrate with other business software?
While not explicitly stated, accounting software like Finaloop generally integrates with other business tools, which would improve a merchant's ability to handle the overall accounting processes.
Does TaxCloud handle international sales tax?
The description mentions responsive U.S.-based support and participation in the Streamlined Sales Tax (SST) program, implying a focus on U.S. sales tax rather than international sales tax.
What kind of reporting can you get with Finaloop?
Finaloop provides various reports, including Profit & Loss, Cash Flow, Balance Sheet, and payable and receivable tracking. It also includes a real-time financial dashboard built for founders.
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