What Fynance Does and Doesn't Do
Understand what Fynance takes care of and what still needs you or your accountant.
Fynance is your AI bookkeeper: it keeps your books organized and ready for your accountant. Knowing where it stops helps you plan the rest.
What Fynance does
- Imports transactions from your banks, cards and Stripe automatically.
- Suggests a category and contact for every transaction, so you only review and confirm.
- Pairs transfers between your own accounts so nothing is counted twice.
- Creates and sends invoices, including recurring ones, and lets clients pay online with Stripe.
- Generates your Profit & Loss and Balance Sheet for any period, in PDF or Excel.
- Answers questions about your books and how to use the app through Fyn.
What Fynance doesn't do
- It does not file taxes. Your accountant or tax preparer files your returns using the reports from Fynance (see Getting Tax-Ready).
- It does not move money. Bank connections are read-only. Payments to vendors and contractors are made from your bank or payment platform.
- It does not track Accounts Receivable, Accounts Payable or inventory. Your books are kept on a cash basis (see Cash Basis Accounting).
- It does not run payroll or pay contractors.
- It does not store receipt files yet. Keep them in a cloud folder (see What to Do With Your Receipts).
- It does not replace professional advice. For tax and legal decisions, talk to your accountant.
What you still need to do
- Review and confirm transactions every week (see Your Weekly 10-Minute Routine).
- Keep your receipts.
- Record anything that happens outside your bank accounts, such as cash (see Recording Cash Payments).
- Share your reports with your accountant before you file.