Finsync Review

Pros:

  • pros Easy to use
  • pros Unlimited number of users
  • pros Great analytics
  • pros Good customer support
  • pros Polished features

Cons:

  • cons Limited integration
  • cons No mobile app
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Score: A

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Product Overview

The Finsync company was founded in 2011. Today, it’s an all-encompassing cash flow management service for US-based small and medium-sized businesses. It’s a scalable subscription model that allows you to choose your own packages based on the specific needs of your business. 

Finsync helps you with payment processing, accounting, and payroll management. It can also match you with a certified bookkeeper, accountant, or business insurance broker for no extra charge. In addition, Finsync functions as a lending marketplace with numerous partners in the industry. 

According to online Finsync reviews, speed is the company’s number one strength. Thanks to its partnership with WorldPay, Finsync is capable of promptly processing ACH and credit/debit card payments. Its intuitive interface simplifies the whole process thanks in no small part to the drag-and-drop system. 

There are no subscription fees or contractual obligations, so don’t worry about getting stuck with a service you don’t need or like. If you want to try it out, just sign up for the seven-day free trial, which doesn’t require a credit card.

Our Finsync payments review highlights the platform’s main features, costs, and benefits.

Pricing Plans

There are three subscription plans:

1. Payments: $10/month 

This is the cheapest and simplest plan that offers only the basic payment processing services. It allows you to send and receive ACH and credit/debit card payments. Note that the flat fee of $10/month does not include additional costs per transaction:

  • $0.50 per ACH payment
  • $1.00 for sending checks to non-ACH-enabled vendors
  • $1.00 for conversion of checks to ACH (through lockbox)
  • 2.9% + $0.30 per credit or debit card transaction

2. Payroll: $40/month

The second Finsync pricing plan jumps to $40/month but offers additional services. The software takes care of your employee paychecks and deals with taxes and contributions.

In addition to the $40 monthly fee, Finsync also charges $4 per employee. Larger companies with a greater number of employees get discounts. To figure out exactly how much you can save, use the site’s free calculator.

3. Accounting & Cash Flow: $45/month

Finsync bill pay, expenses, taxes, and invoicing are all managed under the software’s watchful eye. This type of bookkeeping is far more advanced than popular programs like Quickbooks, with Finsync offering a unique set of features. The information is often organized into charts so you can easily assess your situation and make the necessary adjustments.

This pricing plan also covers financial assistance. Finding the perfect Finsync loan for your company is easy with this established lending marketplace.

4. Complete Solution: $95/month

If you need the full deal with all the aforementioned benefits and options, Finsync, Inc. reviews recommend the Complete Solution. This plan takes a wide range of obligations off your back and allows you to spend your time more efficiently. It might not be cheap, but considering the services you’re getting, it’s worth the cost.

Before you decide on anything, you can sign up for the platform’s seven-day free trial, which doesn’t require your credit card or any other payment. 

Setup Process and Ease of Use

Getting started with Finsync is fairly simple; the website provides a step-by-step guide in the form of a YouTube video.

In order to start using your Finsync payments, you first need to create an account, which only takes a couple of minutes. This allows you to begin accepting ACH deposits and checks through the lockbox service. However, enabling credit/debit card payments requires you to apply for a specialized merchant account. Basically, you fill out a form and wait for the company to review your application. It may sound time-consuming, but in most cases the whole process only takes around five minutes.

According to online Finsync reviews, the platform is a favorite among entrepreneurs because it’s easy to use. To send a payment request, you only need to provide a customer’s email address and choose the method. If you have an understanding with your customers, you can use the Process Now option to automatically charge their credit/debit cards.

Finsync’s smart software makes the process even smoother by remembering preferred methods for each customer. Whenever the customer accepts your invoice, the method used is saved to your account for future use. Your customers don’t need to have an account at Finsync to pay you.

Features & Integrations

Depending on your business needs and budget, Finsync can offer a wide range of services, including online payments, accounting, cash flow management, and payroll. For $10/month, the simplest plan allows you to accept and make payments through ACH or with credit/debit cards. The payment system has a number of useful features that are designed to ensure a smooth experience.

  • Email notifications

Whenever a customer pays an invoice, the recipient gets a notification via email. This way you don’t have to use your Finsync login details to get the confirmation. We’ve included this feature in our Finsync review because of its contribution to convenience. 

  • Resending invoices

Did you get the number wrong in your invoice, or is the recipient demanding changes? Instead of starting from scratch, Finsync allows you to make quick adjustments and resend those rejected invoices. 

  • Processing fees

You can choose whether you pay the processing fees or whether the invoice recipient should foot the bill. There is even the option of splitting the fee between the two.

  • Memorizing payment methods

The first time a recipient accepts a payment method, it gets saved in the database as a preferred option. The next time you are dealing with a particular customer, Finsync will automatically select their preferred method.

  • Customizable Finsync invoice templates

The tool lets you create a number of customizable templates with as many details as you like. Templates can include various attachments like downloadable pictures or contracts.

  • Lockbox 

The lockbox option converts checks into ACH, so you can access the funds electronically.

  • Drag and drop system

Thanks to the simple drag-and-drop system, payments are extremely fast and easy.

Finsync can be integrated with Stripe and PayPal. In addition, the company has been collaborating with WorldPay since 2017. According to a joint WorldPay-Finsync press release, the aim of the partnership is to provide customers with a faster way to process payments.

Contract Length and Termination Conditions

Finsync reviews often highlight the fact that users are pleased with the lack of any contractual obligations. Fees are paid monthly and per payment, but there are no sign-up or cancellation fees. You can cancel the contract at any time. 

In addition, Finsync allows you to make adjustments to any selected plan. Start things off with the basic plan to see how this tool helps your business, then slowly work your way up the ladder. Downscaling plans is also great for companies looking to temporarily cut their expenses.

Reviews on Finsync software suggest that users love the option of a seven-day free trial for all plans. Trials can also be cancelled at any time with no penalties or additional fees. Note that even the trial offers multi-user capability.

BBB Rating

Finsync’s BBB rating is a perfect A+. This rating is based on a number of factors, including licencing, customer complaints, and transparency. It allows us to conclude that Finsync is a respectable company with fair business practices. The company currently has only four customer reviews, but these do not contribute to the overall rating unless they’re actual complaints.

Most of these online reviews pertain to the full Finsync cash flow management software. This tool not only enables secure online payments, but also keeps track of the changes. That way you get a full overview of all your financial transactions in a clear and logical way. This is probably one of the reasons why Finsync is often compared with some other popular accounting solutions.

Finsync vs QuickBooks

Numerous reviews all over the web often compare Finsync to another well-known accounting tool: QuickBooks. 

But Finsync isn’t solely focused on accounting and has an impressive set of features that eclipse QuickBooks’ capabilities. Aside from the basics, Finsync offers services like expense tracking, payroll management, and bank reconciliation. These additional features may come with a higher price tag, but the service they provide is worth the cost.

Finsync vs Xero

There are a number of similarities between Finsync and Xero when it comes to accounting. Both cover a wide range of services necessary for small and mid-sized businesses. Since Finsync is focused on US-based companies, it doesn’t have a multi-currency option like Xero. Another advantage of using Xero is the tax management service, which is highly beneficial for smaller companies.

So where does Finsync have the upper hand? The platform is a good choice for companies that require expert payroll management as part of their full package. In addition, Finsync provides project-specific accounting, which isn’t available with Xero.

Customer Service

So what is Finsync customer service like? By most accounts, the agents are knowledgeable and ready to assist customers. Getting in touch with the support team is easy; just click on the support button in the bottom-right corner of your screen, then you can type your questions or  browse through the site’s help section for answers. Of course, live chat is the fastest option. You aren’t expected to divulge any personal information to get assistance.

Conclusion

We conclude our Finsync secure payments review with a recommendation that the software is an ideal option for small or medium-sized businesses. The service is easy to use and intuitive, so even beginners can find their way around.

The free trial is a great way to get acquainted with the service. The absence of a Finsync mobile app could be frustrating for some users, but the software still provides an invaluable service in today’s highly competitive business world.

FAQ

When was Finsync founded?

Finsync was founded in 2011 in Atlanta, Georgia but became fully operational a couple of years later. The company has gone through numerous changes over the years and shifted its focus several times to provide the best possible service to its users. Today, it’s a perfect solution for users looking for reliable cash flow management.

Who is Finsync’s CEO?

The company is led by its founder Tucker Mathis. Finsync reviews reveal that he is also the CEO of two more companies – TM Ltd and Findots. The latter is another invention from the Finsync CEO, who established his software companies with shared goals. We can probably expect to see some new integrations or features in the years to come.

How much revenue does Finsync generate?

According to some estimates, Finsync generates an annual revenue of $5.8 million and has around 80 employees.