How to sync TikTok Shop sales with Finaloop

Finaloop Accounting, Finaloop's real-time bookkeeping and accounting service, integrates directly with TikTok Shop (TTS) to automatically sync your TikTok Shop data into your books.

This integration pulls your TikTok Shop sales, discounts, fees, promotions, fulfillment charges, and marketing expenses directly into Finaloop. We map them to the correct accounting line items and reconcile them against the payments you receive from TikTok.

The result: your books stay accurate, updated, and aligned with TikTok Shop Seller Center. If you track inventory with InventoryIQ, Finaloop's inventory management product, your TikTok Shop fulfillment data also updates your warehouse data.

Your payouts from TikTok Shop don't typically reconcile back to your orders on their own, because TikTok applies statement-level adjustments, fees and reserves to each payout.

Finaloop gives you visibility into all of these adjustments and fees, so your financials reconcile back to your TikTok Shop statements.

Here's how it works:

Here's how to connect TikTok Shop to Finaloop and how each data point from TikTok Shop is mapped into Finaloop.

Connecting TikTok Shop to Finaloop takes just a few minutes and has two parts: connecting the shop in Finaloop, and giving Finaloop a user role in TikTok Shop Seller Center.

Once connected, we'll start syncing your TikTok Shop data automatically. Your first sync may take a few minutes, depending on your account size. Your TikTok Shop orders then appear in Customers → Orders.

To allow us to validate all your TikTok Shop data in Finaloop and keep your numbers fully reconciled, add Finaloop as a user in your shop. Only the shop owner account can add users in TikTok Shop Seller Center.

TikTok sends an invitation to that email address, and the invitation shows under the Invited User tab until we activate it. Once it's active, Finaloop appears under the Added User tab. For more on user roles, see TikTok's guide How to use User Management.

All synced TikTok Shop orders appear in Customers → Orders. If you also sell on Shopify, click the Marketplaces tab.

Here you can:

The way orders flow from TikTok Shop depends on whether you use cash basis or accrual basis accounting. You can check your method in Settings → Business information, under Accounting method.

On an accrual basis, sales are recognized when an order is fulfilled. Unpaid orders flow into Accounts Receivable (A/R) until the order is paid.

On a cash basis, sales are recognized when a payment is collected, even if the order isn't fulfilled yet. Unpaid orders don't create Accounts Receivable in your books.

Finaloop:

Since TikTok reports don't follow accounting rules, Finaloop provides a TikTok Shop Reconciliation Report that:

Each TikTok Shop statement is made up of two components: the settlement amount and the reserve amount. For each statement, Settlement amount + Reserve amount = Payable amount. The reserve is a percentage of your settlement amount that TikTok holds for each order.

The settlement amount includes all settlements for orders in that statement period and any additional adjustments. It's broken down as:

Finaloop takes the TikTok Shop statement data and maps it into the correct accounts based on accounting best practices. Use the TikTok Shop Reconciliation Report to compare your Finaloop books with your TikTok Shop Seller Center statements.

The report has 3 sections. Click Show breakdown on a section to see all the details. You can also turn on Show more details to see the data broken down into more granular categories, like net sales, shipping, fees, and adjustments.

① Finaloop books, ② Finaloop vs. TikTok Shop comparison, ③ TikTok Shop.

Here's how Finaloop maps TikTok Shop data into your books:

Platform or co-funded discounts that TikTok reimburses to you at settlement are reduced from Discounts & promotions. On accrual basis, discounts only hit your P&L when the order is fulfilled. Until then, they sit in your Deferred revenue account in your Balance Sheet.

As a marketplace, TikTok Shop typically remits the sales tax it collects to the authorities, but there's a timing difference between when sales tax is collected and when it's remitted (only when settled). Until it's remitted, the balance shows in your Sales tax liability account in your Balance Sheet.

When a refund is initiated before fulfillment:

When a refund is initiated after fulfillment, the refund is recorded in your P&L on both cash and accrual basis. Your Sales and Discounts & promotions accounts aren't affected, but the refund is recorded for the full item price, reducing net sales.

Finaloop syncs fulfillment data, including:

When an order is fulfilled, Finaloop automatically:

Free product samples or giveaways to influencers, affiliates, or customers are automatically recorded as marketing expenses under Product giveaways, not as sales or discounts.

If an order is marked as a free sample in TikTok and we see the customer hasn't paid anything, we automatically classify it as a product giveaway. We sync this data automatically, with no manual input needed from you.

To find these orders:

If you use sales-based COGS or InventoryIQ, you can also track this data for each SKU. In Inventory → Products, open a product and click the COGS tab. You'll see a card called Product giveaways.

If an order is cancelled and no payment was ever received, the order is automatically marked as Voided. You'll still see it on your Orders page, but it won't have any impact on your books.

Yes. Finaloop automatically syncs TikTok Shop sales, fees, and payouts into your books. To set it up, connect TikTok Shop in Settings → Integrations and give Finaloop a user role in TikTok Shop Seller Center, as described in "How to sync TikTok Shop with Finaloop".

Under Stores in Settings → Integrations, click TikTok Shop, then click Connect and follow the prompts. Then add accountant+{yourcompanyname}@finaloop.com as a user in TikTok Shop Seller Center with the Finance Specialist, Order Fulfillment Specialist, Product Management Specialist and Customer Service Agent roles. It takes just a few minutes.

Use the TikTok Shop Reconciliation Report in your Report center to compare Finaloop data with your TikTok Shop Seller Center statements.

We track sales, shipping, discounts, commissions, fulfillment fees, promotions, refunds, reserves, and more. The full mapping is in "TikTok Shop line items in Finaloop".

Shopify syncs the overall sales and seller discount numbers for each order, but TikTok Shop often applies other types of discounts, such as platform or co-funded discounts. These can impact the settlement amounts, and Shopify doesn't have the same granular visibility into them. Shopify also syncs order-level data but misses the statement-level adjustments that can impact settlement amounts. To avoid double counting, TikTok Shop orders synced through Shopify are usually set to Excluded in your Shopify sales channel settings, and Finaloop records them from the TikTok Shop integration instead.

If you have questions about your TikTok Shop numbers, reach out to us at [email protected].