Practical, example-driven guides on multi-entity bookkeeping, intercompany automation, financial statements and the accounting API. Written for accountants, finance leads and developers.
Multi-entity accounting software lets one person or team keep a separate, complete set of books for each company (its own currency, chart of accounts, fiscal years and members) while switching between them from a single login.
Intercompany transactions automation means that when one company posts a sale, invoice or payment to a sister company, the matching entry is created in the other company's books automatically, with the same amount, date and reference, so both sides always agree.
An accounting API lets your online store, ERP or billing system create balanced journal entries, read balances and pull financial reports over HTTPS, so sales reach the ledger in seconds instead of being retyped at month end.
IFRS financial statements are the balance sheet, income statement, statement of cash flows and statement of changes in equity, plus notes. Profit flows into equity, equity matches the balance sheet, and closing cash matches the bank line.
A chart of accounts template is a ready-made, numbered list of asset, liability, equity, revenue and expense accounts that matches your reporting standard. Pick one for your standard, keep it short with parties, cost centers and projects, and give every account the right category.
Year-end closing entries zero every revenue and expense account through the income summary and move the net profit or loss into retained earnings. Balance sheet accounts are not closed; they start the next year through an opening entry.
Multi-currency accounting records each transaction in its own currency and converts it to one base currency at the rate for its date. When the rate changes before settlement or at period end, the difference is booked as a foreign exchange gain or loss.
Double-entry bookkeeping records every transaction in at least two accounts, with total debits equal to total credits, so the books always balance. Online, you enter each transaction as a journal entry (voucher), post it when it is reviewed, and the trial balance proves the ledger still balances.