Frequently asked questions
Getting Started
What is Fincaly and who is it for?
Fincaly is a financial tracking software built specifically for small and medium business owners. Whether you run a retail shop, a service business, or anything in between — if you want to understand your numbers, track your profit and loss, and make smarter financial decisions without needing an accountant, Fincaly is built for you.
Do I need any accounting or finance knowledge to use Fincaly?
Not at all. Fincaly is designed for everyday business owners, not accountants. Everything is explained in plain English, and the app guides you through every step. If you know how much you earn and how much you spend, you have everything you need to get started.
How long does it take to set up my account?
You can have your account fully set up in under 3 minutes. Our onboarding flow walks you through everything step by step — your business details, your expense categories, and your first transaction. By the end, your dashboard is already working for you.
What information do I need to get started?
Just the basics — your business name, industry, and a rough idea of your income and expenses. The more transactions you log over time, the more powerful and accurate Fincaly becomes. You can start simple and build from there.
Can I use Fincaly on my phone?
Yes. Fincaly is fully responsive and works smoothly on mobile, tablet, and desktop. Your financial data is accessible wherever you are.
Pricing & Plans
Is Fincaly free to use?
Fincaly is a paid product with a 3-day free trial, so you can try it with your own numbers before you pay. Plans are billed in Naira (₦): Starter is ₦5,000 a month, Growth is ₦10,000 and Pro is ₦20,000. Annual billing costs ten times the monthly price, so you get two months free. Cancel before the trial ends and you will not be charged.
What is included in the Pro plan?
Starter (₦5,000/month) covers Transactions, Profit & Loss, Cash Flow, Budgeting and Goals. Growth (₦10,000/month) adds Period Comparisons, Unit Economics, Insights & Alerts, the Financial Health score and the ability to invite one co-founder or accountant. Pro (₦20,000/month) adds Reports & Exports, Business Valuation, Pitch Ready, Sell Your Business and up to three invited team members.
Can I switch plans at any time?
Yes. You can upgrade or downgrade from Settings → Billing. A change within your current billing cycle applies straight away, with any price difference settled automatically. Switching between monthly and annual billing takes effect at your next renewal.
Is there a free trial for the Pro plan?
Yes. Every plan starts with a 3-day free trial when you sign up from the pricing page. A payment card is needed to start the trial, and you can cancel at any time before it ends without being charged.
Do you offer discounts for annual billing?
Yes. Annual billing costs ten times the monthly price, which saves you the equivalent of 2 months: Starter ₦50,000, Growth ₦100,000 or Pro ₦200,000 a year (monthly is ₦5,000, ₦10,000 and ₦20,000). You can choose your billing cycle when you pick a plan.
Features
What is the Profit & Loss feature?
The Profit & Loss feature gives you a clear monthly and annual breakdown of your income and expenses — in real numbers and percentages. You can see exactly how much you made, how much you spent, and what your net profit was for any given month or year. No spreadsheets, no confusion.
How does the Comparisons feature work?
The Comparisons feature lets you pick any two time periods — any month or year — and see them side by side. For example, you can compare June 2024 versus June 2025, or February 2020 versus March 2024. Fincaly shows you the difference in revenue, expenses, and profit with clear charts and percentage changes so you know exactly how your business is growing.
What does the Financial Health feature do?
Financial Health is your business reality check. It pulls together every number across Fincaly — your transactions, profit and loss, unit economics, budgeting, and cash flow — and combines it with your operational costs to show you the true financial position of your business. It tells you exactly how much cash your business has, what your break-even point is, and what costs need to be reduced.
What is the Unit Economics feature?
Unit Economics lets you track profitability at the individual product level. You enter each product, how much it costs you, how much you sell it for, and the quantity. Fincaly automatically calculates your profit margin per product, tells you if it is a good or poor margin, and suggests a better price if needed. It is perfect for understanding which products are making you money and which ones are not.
How does the Business Valuation feature work?
The Business Valuation feature uses your historical financial data to estimate what your business is worth. It uses three standard valuation methods — Revenue Multiple, EBITDA Multiple, and Seller's Discretionary Earnings — and gives you a valuation range. It also gives you an Investor Readiness Score and tells you exactly what to improve before approaching investors or applying for funding.
What is the Cash Flow feature?
Cash Flow tracks the movement of money in and out of your business over time. It shows you your net cash position, forecasts your cash flow for the next 3 months based on your historical data, and alerts you to potential cash shortages before they happen. It is the difference between knowing your profit on paper and knowing how much cash you actually have.
Can I set financial goals on Fincaly?
Yes. The Goals feature lets you set specific financial targets — like increasing monthly profit by 20% or reducing expenses by ₦50,000 a month. Fincaly tracks your progress with visual milestone indicators and alerts you when you are on track or falling behind.
Unit Economics
Can I edit or delete a product I have already added?
Yes. Every product entry in Unit Economics is fully editable and deletable at any time. You can click directly on any field in the table to edit it inline, or use the edit icon to open the full edit panel. Changes to prices or costs update all calculations instantly.
How do I update the quantity sold for a product?
Each product row has an "Update Sales" button that opens a quick panel where you can add more units sold. You can choose to add to your existing quantity or replace the total. All figures — revenue, profit, margin — update automatically.
What does Fincaly consider a good profit margin?
Fincaly uses the following as a general guide — Poor: 0–15%, Fair: 16–30%, Good: 31–50%, Excellent: 51% and above. These are general benchmarks and can vary by industry. Fincaly also suggests the exact selling price you would need to hit a healthier margin for each product.
Can I filter my products by month or category?
Yes. The Unit Economics page has a full filter bar where you can search by product name, filter by month and year, filter by category, and filter by margin health. You can also sort by highest profit, lowest margin, most sold, or recently added.
Business Valuation
How accurate is the business valuation estimate?
The valuation estimate becomes more accurate the more financial data you have logged in Fincaly. We recommend having at least 3 months of transaction data for a meaningful estimate. Fincaly will show you a data sufficiency warning if your data is too limited and guide you on how to improve it. The valuation is always shown as a range, not a single number, to reflect the natural uncertainty in business valuation.
What valuation methods does Fincaly use?
Fincaly uses three standard methods — the Revenue Multiple Method (most common for early-stage businesses), the EBITDA Multiple Method (for established businesses with consistent profit), and the Seller's Discretionary Earnings method (best for small owner-operated businesses). Fincaly highlights the most relevant method based on your business size and stage.
Can I export my valuation as a document to show investors?
Yes. Fincaly generates a professionally designed one-page Investor Summary that includes your estimated valuation, investor readiness score, key financial metrics, revenue and profit trends, and industry benchmark comparisons. You can export it as a PDF and share it directly with potential investors or lenders.
What is the Investor Readiness Score?
The Investor Readiness Score is a score out of 100 that tells you how strong your financial position is from an investor's perspective. It is broken down across six categories — Revenue Health, Profit Margins, Growth Rate, Cost Control, Unit Economics, and Financial Documentation. Each category is scored and explained so you know exactly what to improve.
Billing
What payment methods do you accept?
Payments are processed securely in Naira by our payment partner, Bachs. The payment methods available to you are shown at checkout, and Fincaly never stores your card details.
Will I be charged automatically when my trial ends?
Yes. Your card is saved when you start the 3-day trial, and your first payment is taken automatically when it ends unless you cancel before then. You can cancel at any time from Settings → Billing.
How do I cancel my subscription?
You can cancel your subscription at any time from the Billing section in your account settings. There are no cancellation fees. Your access continues until the end of your current billing period.
Can I get a refund?
Refunds are handled under our Refund and Cancellation Policy. Subscription fees are generally not refunded for unused time in a billing period, but if you believe you were charged in error, email hello@fincaly.com and we will look into it.
Security & Privacy
Is my financial data safe with Fincaly?
Yes. Fincaly uses bank-level encryption to protect all your data. Your financial information is encrypted both in transit and at rest. We never sell your data to third parties and we never use your business data for advertising purposes.
Who can see my financial data?
Only you can see your financial data. Fincaly staff do not have access to your individual business figures. Your data is yours — private, secure, and never shared.
Can I delete my account and all my data?
Yes. You can permanently delete your account and all associated data at any time from your account settings. Once deleted, your data is permanently removed from our servers within 30 days.
Technical Support
What do I do if something is not working correctly?
First try refreshing your browser or clearing your cache. If the issue persists, use the Help & Support page inside Fincaly to chat with our support team directly. We typically respond within a few hours during business hours.
Does Fincaly integrate with other accounting software?
Direct integrations with third-party accounting tools are on our product roadmap. For now, Fincaly works as a standalone financial tracking platform. You can export your data as PDF or Excel at any time for use in other tools.
What browsers does Fincaly support?
Fincaly works on all modern browsers including Chrome, Safari, Firefox, and Edge. We recommend keeping your browser updated to the latest version for the best experience.
Reports & Exports
What reports can I generate on Fincaly?
Fincaly lets you generate Monthly P&L Reports, Annual Summary Reports, Unit Economics Reports, Financial Health Reports, and Investor Summary PDFs. All reports can be exported as PDF or Excel files.
Can I use Fincaly reports for tax preparation?
Yes. Fincaly's detailed P&L and transaction reports are designed to make tax preparation easier. You can filter by any date range, export a full breakdown of income and expenses by category, and share it with your accountant or tax advisor.
How far back can I generate reports?
You can generate reports for any period that you have data logged in Fincaly. Reports and exports are included in the Pro plan.