Getting Started Guide
❓What does Pocket do?
Pocket helps emerging eCommerce and omni-channel brands manage finance easily - by providing a one-stop solution for founders to auto-generate accrual based financial books and key analytics, and collaborate with CFOs on key decision making. Over 100 users at modern consumer brands use Pocket to manage their books, file taxes, and prepare financials for financing and fund raising.
🌻Explore Pocket in 2 minutes
💥What are the benefits of using Pocket vs. using an accounting service firm
Unlike the traditional accounting service firm where you are charged by hour and get siloed services, Pocket automatically ingested all your transactional data daily, and automatically categorized them to your personalized chart of accounts. Our AI Copilot then work as a virtual bookkeeper to produce your preliminary books while you are at sleep.
In addition - you get access to a real human CPA, or CFO, to answer your questions on-demand, and to review your monthly statement to ensure they are ready for external lenders and investors.
Ultimately, Pocket helps you organize your financial data and tasks, and have better clarity on your financial health.
🪜 Steps to create and review your first financial statement
- Connect: After sign up with Pocket, head to Connections section, and connect with your banking, commerce and other crucial financial systems for daily data ingestion.
- View instant dashboard, analytics, and income statement: Instantly review your dashboard, analytics, as well as your income statement after data ingestion.
🔥 Popular use cases of Pocket
For omni-channel businesses, track sales by channel
- Have an aggregated view of Sales by channel
- Track sales by DTC channels and by B2B / retail / wholesale channels separately
🛎️ Just signed a PO with a new regional or national retailer? Here's how you can track the sales of it in Pocket!
Manage chargebacks by retailer or wholesaler
- Record chargebacks from retailer / wholesaler using the Split function on transactions page
🛎️ Just received a retailer or wholesaler payout that is much lower than the invoiced amount? Here's how you can link the payout to an invoice and record the chargeback fee altogether!
Manage cash sales
- Gross up cash based sales
🛎️ For B2B customers who do not have invoice and just pay you by check or bank deposit, here's how you can gross up the cash deposit to reflect gross sales and discounts!
More use cases
🗝️ Key features you should know about
| Name | Available In | |
| Connect with crucial systems | Connections page | |
| View Overview dashboard | Overview page | |
| View Financial Analytics | Analytics page | |
| Review Income Statement | Income Statement page | |
| Review Balance Sheet | Balance Sheet page | |
| Reconciliation | Reconciliation page | |
| Review Transactions | Transactions page | |
| View Invoice and bills | Invoices and bills page | |
| Personalize Chart of accounts | Chart of account | |
| Set up vendor rules | Vendor rules page | |
| Set up cost of goods sold rules | COGS rules page | |
| Manage plan | Manage plan page | |
| Invite users | Manage users page | |
| Review my account | My account page | |
| Update a categorization | Transactions page | |
| Match a payment to invoice(s) | Transactions page | |
| Split a payment | Transactions page | |
| Update vendor name | Transactions page | |
| Enter a manual journal entry | Manual journal entry page | |
| Edit or archive an journal entry | Transactions page under All tab | |
| Review sales auto-journal entry | Transactions page under Sales tab | |
| Review invoice auto-journal entry by line item | Transactions page under Invoices | |
| Review bills auto-journal entry | Transactions page under Bills | |
| Review bank and credit card transactions | Transactions page under bank/CC tab | |
| Review uncategorized transactions (rarely) | Transactions page under Uncategorized tab | |
| Review transactions under a combination of search and filter criteria | Transactions page under search and filter criteria | |
| Enter a comment | Transactions, Income Statement, Balance Sheet | |
| Review CPA/CFO Notes | CPA/CFO Notes button | |
| Review all comment threads | Comments icon at the top of the page |
For common FAQs about features or functionality on Pocket, visit the link here.
Still need help? Email support@mypocketcfo.com