About FinancePal

Category: Accounting Software
FinancePal's accounting software is built to help small businesses. Its streamlined accounting service solution can manage everyday tax and financial obligations. With multiple integrations at your fingertips and a team of CPAs a phone call away, you can work assured that FinancePal has your back.

Company: FinancePal, LLC.

FinancePal is an outsourced accounting service that provides custom accounting, bookkeeping, and tax services to small and medium-sized businesses. It was launched in 2015 as the accounting/bookkeeping arm of the tax firm Community Tax.

In-Depth Analysis

0 Overall
Price 4.5
Ease Of Use 4.5
Features 4.0
Support 5.0

Pros

  • Customized based on your needs
  • Handles income, sales, and use taxes
  • A mix of software and live professionals
  • Inventory management occurs in the platform

Cons

  • Must speak to a sales rep before starting a free trial
  • Unclear pricing due to customized service

FinancePal Comparisons

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Plans & Pricing

FinancePal offers a free trial to test drive their services before you pay.

FinancePal is most known for providing custom quotes to each customer. You pick and choose which services you’d like FinancePal to provide you, provide them with information about your business (industry, products or services, etc.), and it prices accordingly.

With that said, it has two preset plans that cover their customers’ most common accounting and bookkeeping needs.

Basic
$110
/mo
FREE trial
Plus
$299
/mo
FREE trial

Basic

Basic costs $99/mo if billed annually or $110/mo if billed monthly. Basic includes bookkeeping, monthly financial statement preparation, monthly reconciliations, and tax planning and consulting services. You can connect two bank or credit card accounts with a Basic plan.

Plus

Plus costs $270/mo if billed annually or $299/mo if billed monthly. Plus includes everything in Basic, plus audit defense services, corporate tax return filing, and payroll processing for up to four employees.

Ease of Use

Many current and former FinancePal customers have claimed in reviews that FinancePal has a guided, hands-on onboarding process. FinancePal’s customer service is also top-notch. The account managers are well-versed in accounting and truly show they care throughout your working relationship with FinancePal.

Customer Support

FinancePal pairs you with one of their professionals when you first begin working with them — providing you an unparalleled customer experience. Your FinancePal professional learns the nuances of your business and situation, then works with you on your accounting and tax issues.

Additional customer support:
Blog
FinancePal’s blog covers several small business bookkeeping and taxation subjects.

Phone Support
Phone Support
Phone support is available 8 am - 8 pm EST during the week
Live Online Chat
Live Online Chat
Available as pop-up on FinancePal website
Email
Email
FinancePal offers support via email
FAQ
FAQ
FinancePal has several FAQs available
Features & Functionality
General Features
Catch-Up Bookkeeping

Business often gets in the way of bookkeeping. Fortunately, FinancePal offers catch-up bookkeeping services to clean up your books and get you back on track.

Entity Formation

Picking and setting up a business structure is stressful. FinancePal’s experts provide you guidance on the best structure for your business. Once you’ve chosen one, FinancePal walks you through setting it up — from paperwork to fees to documentation and more.

Income Tax Preparation, Planning, and Consulting

Business taxation is no easy subject. Plus, the IRS likely won’t hesitate to audit you — even if you make an honest mistake. 

FinancePal’s professionals help you maintain accurate records and documentation throughout the year and plan for taxes. When tax season comes, It’ll assist you with filing as well. FinancePal can handle taxation for C-corporations, S-corporations, LLCs, partnerships, and more.

FinancePal also provides an online portal in which all your tax information lives. Through this portal, you can check on your returns’ progress and access tax data as needed.

Sales and Use Tax

Sales and use tax is a significant pain for business owners — especially service businesses. In most cases, you owe sales tax on any products you sell. If the sales tax isn’t charged — because you sold in a different state — then you could owe use tax.

FinancePal helps you track and understand your sales and use tax liability and pay the correct amount on time. 

Regular Financial Statements

With FinancePal doing your bookkeeping, your financial information will always be dead-on. Moreover, it’ll send you weekly and monthly financial statements. You can keep your finger on your business’s pulse and be confident in your decision-making.

Features
  • General Ledger
  • Bookkeeping
  • Manages Accounts Payable/Receivable
  • Income & Expenses Tracking/Management
  • Account Reconciliations
  • Financial Reporting
  • Receipt Scanning
  • Invoicing
Track Expenses
Features
  • Record Expenses
  • Record Mileage
  • Generate Invoices
  • Recurring Expenses
Tax Preparation
Features
  • Tax Compliance
  • Manage Tax Calculations/Reporting
  • Accountant-Prep Friendly
Time-Saving Automations
Features
  • Automation of Invoices/Notifications
  • Suggests Transaction Matches
  • Purchase Order Automation
Add-Ons

FinancePal provides several core services — such as payroll — that would only be add-ons with other products.

Also, FinancePal partners with leading accounting services and software companies such as Quickbooks, Xero, Hubdoc, T Sheets, Bill.com, ADP, and more. Thanks to these integrations, you can pull your data into a single accounting system and get a full view of your finances.

Features
  • Payment Processing
  • Payroll Processing
  • Project Management
  • Time Tracking
  • Third-Party Integrations
Supported Devices
Features
  • Windows
  • Android
  • Linux
  • iPhone/iPad
  • Mac
  • Web-Based
Verdict

FinancePal combines software and live service to help small and medium-sized businesses with their bookkeeping and tax issues while providing a personal touch. It offers customizable packages so you can pick the exact services you need.

Additionally, FinancePal makes managing all your finances easy by partnering with several industry-leading accounting solutions. The FinancePal team comprises knowledgeable, friendly experts committed to improving your business’s financial health. If you’re looking for a solution that mixes software efficiencies with the personal touch of live professionals, consider FinancePal.

Bradley Schnitzer
Author: Bradley Schnitzer
Bradley Schnitzer helps businesses gain loyal customers through informative content pieces and persuasive copy. He is passionate about personal finance and helping budding freelancers further their careers.

FinancePal User Reviews

D
Drew B
11-50 employees
Used for: 1-2 years
16 Jan - 2021

Very portable and simple

Finance Pal is a great accounting solution. The service is super affordable and I feel am getting a lot for my money.

G
Gary J
51-200 employees
Used for: Less than 6 months
27 Feb - 2021

Great great great !

My experience with the service has been great and the staff has been really helpful. We use Finance Pal to do all our accounting plus bookkeeping.

Pros

I like that everything’s customized based on our needs.

Cons

When I first found them and wanted to try it, I had to speak with a sales rep before starting the free trial.

N
Neil P
11-50 employees
Used for: 1-2 years
10 Jan - 2021

Best software!

Wow! They have really helped me get my finances in order and in control. My assigned bookkeeper and CPA are amazing. If something isn’t understood, they’ll educate you so you get it.

Pros

Like that I could pick and choose which services we wanted instead of getting an all-in-one solution.