About
Many of our customers sell on Faire and successfully track their sales, inventory, and COGS using our platform.
While Finaloop doesn’t have a direct integration with Faire, we’ll explain how Finaloop syncs your Faire data in two common scenarios:
When Faire is connected to Shopify
When Faire is not connected to Shopify
Each setup works a bit differently, so we’ll walk through how your sales and COGS are handled in both cases.
1. Scenario 1: When Faire is connected to Shopify
Many brands connect Faire to Shopify using an app or direct integration. In this case, Finaloop syncs data from Shopify, and we offer granular control over which parts of Faire’s data to include in your books.
How it works
In your Finaloop settings, you have flexibility on whether we should include sales, COGS, both, or neither for Faire orders synced through Shopify.
Here are the available sync statuses:
Status | Includes sales? | Includes COGS? |
Included | ✅ Yes | ✅ Yes |
Excluded | ❌ No | ❌ No |
COGS only | ❌ No | ✅ Yes |
Sales only | ✅ Yes | ❌ No |
You can view the status of Faire by:
Going to Customers > Branded Store orders
Clicking the Settings tab
Clicking the Sales Channels tab
You should be able to see the status of Faire listed. You can learn more about our Shopify integration and how these connections work here.
If you want to change a status, just reach out to our team and we're happy to help!
Sales
If set to "Included" or "Sales only":
You can view your orders on the Branded Store Orders page.
Finaloop will sync Faire orders from Shopify on an order-by-order basis
Sales will appear in your P&L as: “Sales - Faire (via Shopify)”
Shipping income and discounts will also be included.
If set to "Excluded" or "COGS only":
We’ll skip syncing Faire orders from Shopify
Instead, we’ll use bank payouts to recognize sales by categorizing the net Faire payouts into sales
This ensures there is no overinflation / double counting of sales.
COGS
If set to "Included" or "COGS only":
Finaloop syncs the sales quantity from Shopify to calculate the COGS
We’ll automatically calculate real-time COGS per order
You can view your orders on the Branded Store Orders page.
Works for both sales-based and InventoryIQ COGS methods.
If set to "Sales only" or "Excluded":
You’ll need to manually enter COGS.
You can manually enter COGS by sales channel (sales-based COGS only) or by SKU/ product (both sales-based COGS and InventoryIQ (unit-based COGS)). See details on the differences between sales channel below.
>Manually entering COGS
To enter COGS by sales channel (sales-based only)
Go to Inventory
Click on the COGS tab at the top
Select Report per channel
Enter the COGS for the Faire sales
To enter COGS by SKU/product (Sales-based or InventoryIQ)
Enter the COGS by SKU/product and Finaloop will calculate COGS automatically by multiplying the number of units sold x cost per unit.
Go to Inventory
Go to your Products page
Click the product sold on Faire
Inside the product page, click the COGS tab, then + Add to COGS
Select Sales channel
Choose “Faire” from the dropdown
Click the edit icon (✏️) to enter fulfilled/restocked unit
Alternatively, you can also bulk upload units sold on Faire on the Products page, click Actions > Bulk unit edit.
2. Scenario 2: When Faire is not connected to Shopify
How it works
If you don’t connect Faire to Shopify, Finaloop still tracks your Faire sales using your bank transactions.
Sales
If Faire is not connected to Shopify, we'll recognize your Faire sales based on the Bank Transactions by categorizing the net Faire payouts into sales without the breakdown of the expenses, i.e. on a net basis.
The net impact on the P&L report is the same so it is up-to-date, 100% accurate, and ready for taxes.
COGS
How your COGS are handled depends on your COGS setup.
No action needed. We calculate your COGS from your inventory bills and payments.
You’ll need to manually enter the COGS either by sales channel or by SKU.
You’ll need to manually enter the COGS by SKU.
>Manually entering COGS
You can manually enter COGS by sales channel (sales-based COGS only) or by SKU/ product (both sales-based COGS and InventoryIQ (unit-based COGS)).
To enter COGS by sales channel (sales-based only)
Go to Inventory
Click on the COGS tab at the top
Select Report per channel
Enter the COGS for the Faire sales
To enter COGS by SKU/product (Sales-based or InventoryIQ)
Enter the COGS by SKU/product and Finaloop will calculate COGS automatically by multiplying the number of units sold x cost per unit.
Go to Inventory
Go to your Products page
Click the product sold on Faire
Inside the product page, click the COGS tab, then + Add to COGS
Select Sales channel
Choose “Faire” from the dropdown
Click the edit icon (✏️) to enter fulfilled/restocked unit
Alternatively, you can also bulk upload units sold on Faire on the Products page, click Actions > Bulk unit edit.