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ACCOUNTS
Books that balance because they cannot do otherwise.
Most finance teams don't distrust their software's arithmetic. They distrust the gap between what the books say and what actually happened — the entry someone edited last Tuesday, the opening balance nobody can trace, the ledger that shows ₹4.2 lakh outstanding when the customer says three invoices are already paid. Zeflash closes that gap by construction. Every entry is balanced before it is accepted. Nothing is edited in place — a correction is a reversal you can see. Every account change carries a name and a timestamp that outlive the account itself. The trial balance is zero because it cannot be anything else.
5statement roots every ledger rolls up to
0the trial balance, at every instant
70business tables stamped by the database itself
Chart of accounts
- Five statement roots — Assets, Liabilities, Income, Expense, Equity — that every ledger rolls up to and nobody can delete, move or mis-file.
- Folders and kinds are separate ideas: arrange folders to suit how your team thinks, while the kind of a ledger (cash, bank, customer, supplier, expense, depreciation) is what the rest of the system reads — so reorganising the chart in March is cosmetic, not a risk.
- Numbers are allocated for you from a window reserved per kind: your first HDFC current account takes 16000, the next 16001, and a supplier ledger draws from the supplier window — two kinds can never mint the same number.
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- Add your own kinds with your own number windows; an overlapping window is refused at the point you define it.
- Reclassify only where it is sensible: a Delhi distributor who opened "ICICI Current A/c" as a cash ledger converts it to a bank ledger in one step, while cash-to-expense does not exist as a move.
- Codes carry letters, leading zeros and separators where a jurisdiction demands them, so a French supplier account like 401DUPONT is expressible rather than approximated.
- Special-purpose accounts — round-off, year-end profit, opening difference, tax heads — are bound by role, so renumbering your chart never breaks a posting.
- Merge two ledgers that turn out to be the same thing, carrying the full history onto the survivor; block a ledger from new postings without hiding it or losing a rupee of history.
Opening balances and going live
- Enter each ledger's opening as a plain debit or credit figure — ₹12,40,000 Dr for stock, ₹3,15,000 Cr for a supplier — in whatever order your data arrives.
- The books stay balanced from the first entry: whatever isn't accounted for yet sits in a single "opening balance difference" ledger instead of quietly breaking the trial balance — and that one figure is your onboarding progress bar; at zero, your opening position is complete and provably consistent.
- Prior-year figures cascade forward: correct last year's opening stock and this year's follows, while income and expense correctly start each year at zero.
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- Lock opening balances when onboarding is signed off so nothing shifts under an auditor mid-review — and unlock deliberately, with a record, if a genuine correction is needed.
- Opening balances are a dated document you can open, read and reverse like any other entry — not a hidden field on a form.
Double-entry, balances and the trial balance
- Every entry carries matched debits and credits; an entry that doesn't balance is refused — Zeflash never invents a plug line to make it fit.
- Debit and credit stay distinct, so a customer ledger flipping to credit is visible as the meaningful event it is: they've overpaid.
- Folder totals net properly: ₹1,000 debit in one child and ₹600 credit in another shows ₹400 debit at the parent, not ₹1,600 of something.
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- The trial balance sums to zero at every instant, by design — there is no reconciliation job to wait for and no "known difference" line.
- Profit for the year is computed from income less expense and held in its own account — never keyed in, never stale.
- Control accounts accept entries only through their sub-ledger, so nobody posts a manual journal straight into receivables.
Posting from documents
- Sales and purchase invoices, receipts, payments, credit and debit notes, contra entries, delivery notes, goods receipts, stock movements, journals and year-end entries all produce their accounting entries themselves; quotations, orders, proformas, job-work challans and stock transfers deliberately produce none, so your books aren't polluted by intent.
- Which ledger each leg hits is configuration, not code: point revenue at a different account by item category, warehouse, branch or party, and change it without a release.
- Rules resolve most-specific-first — item beats warehouse beats company default — and the winning rule is recorded on the entry, so "why did this hit that ledger?" is answerable months later.
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- A correction is a mirror entry that reverses the original; the original stays exactly as posted. Rounding lands in a dedicated round-off ledger rather than being smeared across revenue.
- Indian tax postings are built in: goods and services tax output and input by head, reverse-charge liabilities in their own accounts, and tax deducted at source reducing the supplier payable.
Receivables and payables
- One ledger per customer and per supplier, so "what does Sharma Traders in Nagpur owe us?" is a single row, not a filtered report.
- Bill-by-bill matching: a ₹4,50,000 receipt applied across three invoices in the amounts you choose, with any remainder left on account. Advances need no separate account — they carry the party's balance the other way and are consumed as invoices arrive.
- Ageing on your terms: 0–30 / 31–60 / 61–90 / 90+ by default, edited to your buckets, as on any date, counted from due date or bill date to match your trade's convention.
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- Party statements that show opening, every document, how each receipt was applied and the closing figure — the confirmation letter a customer will actually accept.
- Credit control adds up what a party really owes you — open invoices, undelivered orders, delivered-but-unbilled goods and cheques in hand, each switchable — with a per-party limit enforced at entry.
- Post-dated cheques are registered on both sides, deposited automatically on maturity, and a bounce reverses the receipt, restores the invoice and counts against that party's record.
- Bank reconciliation imports your statement (HDFC, ICICI, SBI, Axis and Kotak layouts pre-configured), auto-matches on amount and date, cheque number or transfer reference, and leaves only genuine exceptions on a review screen — with unmatched charges and interest offered as ready-to-post drafts.
- Micro and small enterprise dues under the 45-day rule are tracked per bill, with a projection of what would be disallowed at year end — the number a chartered accountant wants in February, not April.
Multi-currency and revaluation
- Each company keeps books in one base currency, locked the moment the first entry is posted so history can never be re-denominated.
- Rates live at two levels — a group-wide table you import once, and a company-level table where your own negotiated bank rate wins outright — and are dated, so a Pune exporter's 14-March invoice converts at the 14-March rate even if a better rate lands the following week.
- The rate used is stamped onto the document at entry; correcting a rate later never silently rewrites a posted transaction. If no rate covers the date, entry stops and asks rather than guesses.
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- Realised gain and loss on settlement and unrealised gain and loss on period-end revaluation post to their own named ledgers; you see the revaluation entry before you commit it.
- A ledger can be restricted to a single currency, so a dollar bank account cannot accidentally receive a rupee entry.
Financial years, period locks and year-end
- Financial years are real records with real dates, unlimited history, no gaps and no overlaps — April–March, January–December, or whatever your entity actually uses, chosen per company.
- More than one year can be open at once, so last year stays open for the audit while you trade in this one; "today" is resolved in your company's timezone, so an 8 pm entry on 31 March in Chennai lands in the right year.
- Lock a month, a quarter or a year — company-wide, or narrowed to one branch or one book — as a hard block or a soft warning, always with a reason and a name; a rolling edit window closes entries automatically once they pass the age you choose.
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- Once a tax return is filed for a period, that period can lock itself, so nothing drifts behind a filed figure.
- Year-end close sweeps income and expense into retained profit and carries balance-sheet balances forward as a visible, reversible document — not a batch you run at midnight and hope.
Financial statements and custom views
- Profit and loss, balance sheet and trial balance are computed from live balances — the books as they stand this second.
- Build as many layouts as you need — "Management dashboard", "Bank-facing P&L", "Board pack" — without touching the chart of accounts; a layout row can gather any set of accounts and total them regardless of where they sit in the real chart.
- Formula rows compute what accountants actually present: gross profit, working capital, contribution, a margin percentage — combining by sum, difference, ratio, percentage or a written expression, one row referencing another, with a definition that chases its own tail refused.
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- Show contra accounts sign-reversed; keep memo lines visible without letting them into a subtotal.
- Statutory presentation formats are mapped rather than hand-built — Schedule III of the Companies Act with comparatives and rounding units, and the equivalent formats where you trade abroad.
- The on-screen layout and the exported snapshot come from the same calculation and agree to the paisa.
Audit trail and controls
- Every change to an account — created, renamed, moved, reclassified, deactivated, restored, blocked, or bound to a role — is recorded with the person and the moment, and that history outlives the account.
- Every business record carries who created it and who last changed it, captured automatically. Posted entries are append-only; a correction is a reversal both parties can see.
- An account that something depends on — a role binding, a posting rule, a report layout — cannot be deleted out from under it.
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- The genuinely sensitive verbs — writing off a balance, merging two accounts, releasing a period lock — are separated from everyday rights; entries made by the system itself are marked as such, so an auditor tells machine writes from human ones at a glance.
- This is the substance behind India's audit-trail requirement for accounting software: an unalterable log of entries and master-data changes, retained for the statutory period.
Multi-company
- Each company keeps its own chart, calendar, currency, numbering and locks, held separately — there is no shared pool where one company's data can surface in another's report.
- One login moves between companies; permissions decide which companies a person can even see. A group runs an Indian entity on April–March in rupees beside a US sister company on January–December in dollars.
- New companies are provisioned complete — chart, number windows, roles, tax heads, reconciliation rules — in minutes, so entity number four looks exactly like entity number one; rate tables and report layouts are maintained once at group level and overridden where a company needs to differ.
A Day In The Life
Priya, CFO, closing the September quarter across two companies. She opens the group's trading company in Ahmedabad: the trial balance is zero, as always. The management P&L layout she built in June shows gross profit and contribution as formula rows — no export, no spreadsheet. She revalues the dollar receivables, reviews the unrealised loss entry before committing it, and locks September for both companies with the reason "Q2 board pack". The Coimbatore unit closes the same way, on its own calendar, in the same fifteen minutes.
Talk to us about accounts.
Bring the hardest thing you have had to prove — the lot that failed, the return nobody could place, the audit that cost you a week. That is the demo.