Entendre and Loop Crypto: Automate Accounting of Crypto Payments

TL;DR Today, we are thrilled to announce our partnership between Entendre Finance and Loop Crypto, a crypto payment solution. 

Automating Accounting for Loop 

Loop Crypto is known for making crypto payments easy, saving companies time and helping them retain customers. This integration leverages Entendre’s capabilities to automate the accounting of payment receivables from Loop, reducing manual effort and providing the requisite context for on-chain data.

The Power of Integration

After we had used the Loop + Stripe integration to enable our own crypto payments and automate our customer payments, it was a no brainer for us to see the power of the joint partnership. Our CEO, Kareem Khattab says on the motivation for this partnership:

“Entendre uses Loop for collecting revenue on-chain from or most Web3 forward teams that want to use their treasuries to pay vendors. The Loop integration with Stripe was a big win for us and, because we use Entendre for our own accounting, partnering with Loop to streamline customer receivables was an obvious next step.”

By simplifying the accounting processes for Loop’s transactions, Web3 teams can focus on growing and scaling their businesses.  This integration marries two important tools into one place: transaction context with a robust crypto accounting platform.  The result is an automated system that ensures accurate and efficient recording of crypto payments.

“Businesses require tooling and automation that integrate with their products and accounting systems. Loop’s mission is to make the crypto payment experience seamless from invoicing to paying contributors to recurring billing. Our product fits into a business's existing operations, saving them time and helping them retain customers. This integration with Entendre is the last mile to automate the full payment process and remove the headache of accounting for crypto payments.” Eleni Steinman, CEO & Co-Founder of Loop

Key Features of the Integration

Getting started with the integration is easy: Generate an API key in Loop, input the key into Entendre, and the data syncs in a matter of minutes.

Automate accounting of payment receivables from Loop 

Handling cryptocurrency payments often involves manual accounting processes. With this integration, businesses can automate the accounting of payment receivables from Loop. This streamlines the entire accounting process, ensuring that payments are recorded accurately and efficiently, eliminating the need for manual data entry. 

Automate deferred revenue with additional Loop tailored conditions

Deferred revenue can be a challenging aspect of financial management, especially for cryptocurrency. In this partnership, we're taking automation a step further by providing additional Loop-tailored conditions for automating deferred revenue. These conditions are specifically designed to meet the unique needs of businesses using Loop Crypto for their payment processing. The result is a more streamlined and precise method for managing deferred revenue, simplifying financial reporting and ensuring that businesses always have an accurate picture of their financial health.

Revenue recognition engine to automate entries every month-end

This integration incorporates a powerful revenue recognition engine that automates these entries, eliminating the need for manual data input. This not only saves time but also reduces the risk of human error, ensuring that all financial entries are made accurately and efficiently at every month-end. Businesses can trust that their financial records are consistently precise.

Book a demo with Entendre to learn more.