Frequently
asked questions
Innovating is hard and financing it even harder.
Compliance of the R&D tax incentive program is a complex, time consuming process for firms big or small, with substantial financial and legal risks - especially when activity and expenditure is not documented and substantiated extensively.
Finnli makes it easy and fast to get critical cashflows from your R&D tax by automating the complexity of R&D compliance & record keeping.
1) Finnli saves you ~5X more time for record keeping and substantiation of expenditure for R&D activities than the current effort required by most companies surveyed by us.
It does this by seamlessly integrating with popular cloud products like JIRA, XERO and applying smart analytics & AI to identify expenditure by R&D activity and supporting documentation.
This means ZERO additional effort to collate data for you and your team plus not having to worry about copying data across apps, populate complex spreadsheets and keeping track of emails.
All data is easily accessible in a single app - secure, verified and validated .
2) We notify and highlight any compliance risk on a daily basis so that you & your team can proactively remediate risks and avoid unpleasant surprises at the end of the year. All your data is easily searchable with audit trails.
3) By opting to pre comply and pre-fund your R&D tax claim you can cut upto 18 months off your waiting time for a refund and make your capital work twice as much.(Currently for Australian businesses)
After a quick registration, integrate Jira, Confluence * & XERO* in under 5 minutes and you're good to go. Finnli will import all the relevant data from both cloud platforms and immediately start your compliance checks. An easy to use dashboard will get you upto speed to with R&D activities, expenditure and any compliance risks.
Yes, absolutely, we have easy to use project and issue management framework which can be used. If you are a tech orientated business , you probably are using JIRA*already.
Finnli is not a cloud accounting solution and as such is not meant to used as a bookkeeping /general ledger system. We are fully integrated with XERO*. We will be soon integrating with MyOB*,Quickbooks*. Sign up easily for XERO here www.xero.com/signup/?xtid=x30finnli
Finnli gives your equity investors greater assurance by providing transparency on your R&D expenditure and documentation compliance which are critical to claim the R&D tax incentive. A well documented R&D claim in turn helps investors reduce their investment risk and helps their portfolio companies(you!) deploy capital more effectively.
R&D financing firms as well, look to get assurance through high standards of record keeping and documentation in addition to your credit profile. A 'letter of comfort' that is usually provided by an R&D tax advisor to the financier, becomes so much easier with Finnli.
Any registered business on Finnli can add their advisors to their projects who then can review, advise and document all in the platform.
Finnli platform does not offer Tax or professional financial advice. We focus on the heavy lifting through automation & analytics making sure you have well documented & substantiated R&D claim, so that your advisors can spend more time on specialist tax related matters that you might need advice on.
Finnli has been built with collaboration & feedback from industry leading R&D tax advisory firms. Our business model is as much about digitally enabling R&D advisors, as our core mission of enabling innovative firms to manage cashflow through compliance.
R&D advisors can register and manage their client portfolio through specialized management and analytical tools that have built into Finnli.