Bookkeeping Ledger & Financial Statements

About the Bookkeeping Ledger & Financial Statements

Keep the double-entry books of a freelancer, a services business, a trader or a small manufacturer in your browser. Start from a chart of accounts made for the kind of business, with the statement headings of India (Schedule III), the UK (FRS 105 micro-entities) or the US (GAAP-style captions), or import your own chart. Record sales, purchases, money in and out, cash–bank transfers, credit and debit notes and journals; every voucher must balance to the last cent or paisa, because amounts are kept as whole minor units, never as rounded decimals.

Bring in a bank statement (CSV, Excel or OFX) with payee rules that choose the accounts, or an invoice file from the Invoice Generator. The books give the day book, every ledger with its running balance, receivables and payables ageing bill by bill, the trial balance, the profit and loss account, the balance sheet, an indirect-method cash flow statement, budget against actual and a period close that locks finished months. No books? The quick statement turns totals you type into a one-off profit and loss account or balance sheet.

Everything stays on this device — encrypted with your passcode if you set one. The free preview keeps one business and one financial year: the books work in full, and every report shows as marked page images with its figures hidden. A Premium pass shows the reports in full and unlocks their PDFs and printing, the Excel workbook, the trial balance for the Schedule III Financial Statements tool, the vouchers for Excel to Tally XML, and several businesses and years.

Common uses

• A freelancer or consultant who wants real books and statements without an accounting subscription.
• A small trader keeping purchases, sales, GST or VAT and the bank in one place before the accountant’s visit.
• A business owner who needs a profit and loss account and balance sheet for a loan, a lease or a visa application.
• An accountant who keeps a client’s books on a laptop and hands over a trial balance for Schedule III statements or vouchers for Tally.

Where each account goes in the statements

Every account has a nature — cash, bank, trade receivables, inventories, trade payables, borrowings, capital, revenue, employee costs, depreciation and so on. The nature puts the account on a line of the statements of the framework you choose:

• India: the headings of Schedule III to the Companies Act, 2013 (Division I) — shareholders’ or owners’ funds, non-current and current liabilities and assets; revenue from operations, other income, cost of materials consumed, purchases of stock-in-trade, changes in inventories, employee benefits, finance costs, depreciation and other expenses.
• UK: the micro-entity formats of FRS 105 — fixed assets, current assets, prepayments and accrued income, creditors within and after one year, provisions, accruals and deferred income, capital and reserves; turnover, other income, cost of raw materials and consumables, staff costs, depreciation, other charges and tax.
• US: the captions of SEC Regulation S-X, Rule 5-02 and Rule 5-03 — cash and cash items, accounts and notes receivable, inventories, property, plant and equipment, accounts and notes payable, long-term debt, equity; net sales, costs applicable to sales, selling, general and administrative expenses, interest and income tax.

An account on the unusual side moves to the line where it belongs: an overdrawn bank is shown under borrowings, a customer’s advance under other liabilities and an advance to a supplier under loans and advances.

How the books stay exact

• Whole minor units. Every amount is stored in cents or paise as a whole number, so the debits of a voucher equal its credits exactly and no total drifts by a rounding error.
• Foreign currency. A voucher typed in another currency is converted at the rate you give, rounded half away from zero, and remembers the original amount and rate. For euro pairs the ECB’s reference rates are a published rate to use; the ECB publishes them for information.
• No closing entries. Reports carry the profit of earlier financial years as retained earnings and the current year’s as the profit for the period, so the trial balance and the balance sheet always balance.
• Opening balances. When they do not balance, the difference is shown as its own line in the trial balance and the balance sheet until you correct it, never hidden in another account.

The cash flow statement

The cash flow statement uses the indirect method: the profit before tax, with depreciation and finance costs added back and interest income taken out, then the change in each working-capital account (receivables, stock, payables, taxes), income tax, then investing activities (fixed assets, investments, loans given) and financing activities (capital, drawings, borrowings, interest paid). Every balance-sheet account other than cash and bank sits in exactly one section, so the net change always equals the change in cash and bank balances — the statement says so when it does not, which only happens when the books are incomplete.

Stock, depreciation and the period close

The books follow the periodic method for stock: purchases are expensed, and at the end of a period you record the closing stock with a journal (debit the stock account, credit “Changes in inventories” for an increase). Depreciation is a journal too (debit Depreciation, credit Accumulated depreciation). When a month or a year is complete, close it on the Reports tab: vouchers on or before that day can no longer be added, changed or deleted until it is reopened, and the edit log records both.

Bank statements and payee rules

A statement saved as CSV or Excel is read by its column names (date, narration or description, withdrawal and deposit — or one amount with a Dr/Cr column — and a reference); rows above the heading and rows without a date are left out. OFX and QFX files are read from their transactions. Each line is matched to an account by your payee rules (words in the description, money in, out or both); lines without a match go to Suspense until you edit them. Every voucher remembers its bank line, so importing an overlapping statement again adds only the new lines.

Limitations

• One browser on one device: there is no shared login or sync. To move the books, restore an encrypted backup on the other device.
• It does not file tax returns or e-invoices, run payroll, or track stock quantities: closing stock and depreciation are journals you enter.
• Exchange rates are typed, not fetched: the books never contact any rate service.
• This is a bookkeeping tool, not accounting advice; have an accountant review statements you file or give to a bank.
• Clearing this browser’s site data deletes the books: keep encrypted backups.

Privacy

Everything happens in your browser. The chart of accounts, vouchers, rules, budget and edit log are kept in this browser’s IndexedDB on this device — encrypted when you set a passcode — and are never uploaded; bank statements and invoice files are read on the device.