Accounting
Books that close every month.
Invoices, payments, bank and tax post to one set of books. Your accountant sees the same numbers you do.
- Works today on the demo company
- Live demo sign-in from us, on request
- Your server or MyRecords Cloud
- Built for you
- Customised
- to your requirements, by our team
- Users
- Unlimited
- no per-user fees, on any module
- Runs on
- Your server or MyRecords Cloud
- a dedicated system, in any country
What it fixes
What changes with Accounting.
In short
Accounting is the books of MyRecords: sales and purchase invoices, payments, journal entries, bank and payment reconciliation, and the general ledger, trial balance, profit and loss and balance sheet, in Schedule III form for Indian companies. Every bill, stock movement and pay run in the other modules posts here when it is submitted, so the books are never a separate job. It works in your own currency, comes with the ERP core, and has unlimited users.
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Before: Dues noticed only when the bank balance looks low.
With Accounting: “Who owes you” ages every customer by days late, with reminders, statements and promises to pay.
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Before: Bills re-typed into the accounting software every month.
With Accounting: Invoices, payments and purchase bills post to the ledger the moment they are submitted.
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Before: Bank reconciliation takes two days at month-end.
With Accounting: Import the statement and let Auto-match take the clear matches; only the leftovers need you.
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Before: The P&L and balance sheet never agree with the CA's version.
With Accounting: One set of books, a Schedule III balance sheet, and a login for your CA that ends on the date you choose.
What it does
What Accounting does for you.
Everything here works today on the demo company.
- 01
Invoices and notes
Sales and purchase invoices, credit and debit notes (all of it, some items or a price correction) and recurring billing. In India they print as GST tax invoices, with CGST + SGST or IGST by place of supply.
Works on the same records as
- 02
Who owes you
Under Sales, unpaid invoices by customer and by days overdue, with reminders, statements, promises to pay and disputes. The total is the customers' balance in the ledger.
- 03
Bank reconciliation
Import your bank statement (CSV or Excel), then press Auto-match. Each open line shows the payments or entries that could match it; tick one, or create the missing entry from the line.
- 04
Payment reconciliation
Sets payments, credit notes and journals recorded without an invoice against the invoices they pay, in three steps. Auto-match all parties does the obvious ones, and Undo is offered right after.
- 05
Financial statements
General ledger, trial balance, profit and loss, cash flow and the balance sheet, with Schedule III forms and notes to accounts. Click any figure for the entries behind it. The chart of accounts is a tree with balances, and cost centers split income and costs by branch or project.
- 06
Journal entry tools
A quick entry from one account to another, journal templates, recurring journals and an opening-balances wizard. Every journal shows its lines, the debit and credit check and what it posted.
- 07
Close and plan
Close books holds the month-end checklist, the lock date, closed periods, the year-end close, foreign currency revaluation and deferred revenue and expense. Budgets set limits per expense head and cost center, warn or stop when one is crossed, and can start from “Suggest with AI”.
- 08
The Accounting home
Cash and bank, what customers owe and what you owe, bank lines to match, drafts waiting, cash in 30 days from due dates, the day book, and journals worth a second look.
- 09
Read documents with AI
With the AI Assistant add-on, a bank statement PDF or photo in Documents becomes bank entries, a bank guarantee fills in from its document, and Read an allotment document turns a board resolution or PAS-3 into draft share allotments. You check every line before saving.
- 10
TDS on purchases
With India compliance, the TDS tab shows what you deducted, what is due by the 7th, challans, a Form 26Q / Form 140 workbook, and a 26AS or AIS match.
Go deeper
- GST invoicing Tax invoices, credit and debit notes, recurring bills, UPI QR.
- Who owes you Dues by customer and age, reminders, statements and promises.
- Bank reconciliation Import the statement, accept match suggestions.
- Financial statements P&L, Schedule III balance sheet, cash flow, trial balance.
- TDS on purchases Deducted, to deposit, challans, 26Q / Form 140 workbook, 26AS match.
India compliance
For businesses in India, built in.
India is our first fully supported market. Each line says whether it works today, once you connect your account, or in part.
Outside India
Outside India, the books work the same in your own currency. Your country pack sets the tax invoice layout and the VAT or sales-tax return report; we build and test it before go-live.
What works in your country- Works today
Indian number formats
₹ with lakh and crore grouping, dates as 27 Nov 2026, and an April–March financial year.
- Works today
Schedule III and the share register
The balance sheet and profit and loss follow Schedule III (Division I), with notes and earnings per share. The share register prints the register of members (MGT-1), share certificates (SH-1) and transfer forms (SH-4).
- Works today
GST from the books
The same invoices feed GSTR-1 and GSTR-3B files in India compliance, so the return matches the ledger.
- Works today
UPI QR on unpaid invoices
An amount-coded UPI QR from your own UPI ID prints on every unpaid invoice. The customer pays from any UPI app.
- Works today
MSME payables
Bills from micro and small suppliers are checked against the 45-day limit. The Accounting home shows what is unpaid beyond it, which is not deductible until paid.
- In part
TDS workbook
Form 26Q for quarters to March 2026 and Form 140 from April 2026, as an Excel workbook for the return utility. Filing on TRACES stays with you or your CA.
Try it
See it work on sample data.
We show you the live system on a call, signed in as the demo company's accountant: a journal entry and its ledger, the bank reconciliation page and the trial balance. Ask for a demo sign-in to explore it yourself, or join the pilot programme and see it on your own books.
Bank reconciliation
Match each line of your bank statement to a payment or entry in your books, so the books agree with the bank.
Canara Bank Current ···· 4417
From1 Oct 2026To31 Oct 2026
Closing balance as per statement
₹18,47,219.50
Closing balance as per books
₹18,45,613.50
Difference
₹1,606.00
Statement minus books
Lines to match
2
| Date and description | Amount | Status |
|---|---|---|
| NEFT KAVERI AGENCIES INV 0039102 Oct 2026 · N27526100412 | ₹1,15,734.00 | Matched ACC-PAY-2026-00512Kaveri Agencies |
| UPI MYSURU BUILDMART06 Oct 2026 · 627914583310 | ₹23,600.00 | Matched ACC-PAY-2026-00518Mysuru Buildmart |
| NEFT SALARY OCT 202621 Oct 2026 · N29426102133 | -₹3,42,800.00 | Matched ACC-JV-2026-00144Salary, Oct 2026 |
| BANK CHARGES OCT22 Oct 2026 · CHG261022 | -₹236.00 | To match No match: create the entry from the line |
| INTEREST CREDIT SEP QTR25 Oct 2026 · INT261025 | ₹1,842.00 | To match No match: create the entry from the line |
Left for you to review 2 of 5 lines
Fictional sample. Statements come in as CSV or Excel files; no automatic bank feeds yet.
Reports and roles
What you see, and who sees it.
Reports come ready on day one. Each person sees only the screens and records their role allows.
Reports you get
- General ledger
- Trial balance
- Profit and loss, also in Schedule III form
- Balance sheet, notes to accounts and the pack for the bank
- Cash flow statement
- Day book
- Who owes you and Who you owe (receivables and payables by age)
- Customer ledger summary and Supplier outstanding summary
- Sales invoice register and Purchase bill register
- Bank reconciliation statement and Bank clearance summary
- TDS details and TDS summary report
- Budget variance report, Key financial ratios and Combined financial statement
Who sees what
- Owner
- See every figure and approve; nothing is hidden from the owner.
- Accountant
- Post invoices, payments and journals; reconcile; run every report. An Accounts Manager also closes the year, makes budgets and gets a money summary by e-mail at 8 am.
- Your CA
- “Invite your CA” gives access to the accounts until a date you choose; it ends by itself. The trial balance can reach them as a PDF every month.
- Sales staff
- See invoices and what their own customers owe; accounts staff see every customer.
Before you decide
What works today, and what does not.
Said plainly, so you can plan around it. What comes next is on the roadmap.
Works today15
On the demo company, now.
- Invoices and notes
- Who owes you
- Bank reconciliation
- Payment reconciliation
- Financial statements
- Journal entry tools
- Close and plan
- The Accounting home
- Read documents with AI
- TDS on purchases
- Indian number formats
- Schedule III and the share register
- GST from the books
- UPI QR on unpaid invoices
- MSME payables
In part1
The feature text says exactly which part.
- TDS workbook
Not in Accounting yet
Left out on purpose, or planned.
- Automatic bank feeds from your bank (import the statement file instead).
- Filing TDS returns on TRACES; the workbook is ready for your utility.
- TCS return (27EQ).
- On a phone
- Works in any phone browser and installs to the home screen. Accounting needs a connection; only point of sale, the shop floor, attendance check-in, maintenance visits, asset physical checks and bill photos for Read a bill keep working offline.
- Bringing data in
- Opening balances through a wizard, unpaid invoices through the opening invoice tool, Tally masters and Day Book vouchers as journals (checked before anything posts; tested on Tally's own sample export so far), or our Excel templates through Import data, which checks the columns first and can undo an import that created new records. Bank statements as CSV or Excel.
- Getting data out
- Every report and list exports to Excel, CSV or PDF, and a journal can go to Tally for a CA who still uses it. You can take a full copy of your data at any time; on your own server, the database is yours.
- Integrations
- UPI QR works today with your UPI ID. Razorpay and Cashfree payment links with automatic matching, and gateway settlements (each payout with its fees and the GST on them), work once you connect your own account. Automatic bank feeds are not available yet.
- Where it runs
- Runs as your own dedicated system: on your server under an AMC, or on MyRecords Cloud for a monthly fee. Either way the books are yours, and you can export everything when you leave. Data ownership and exit
Questions
Questions people ask
Something else on your mind?
Ask us anything about modules, a quote or moving across. A person from our team replies.
Ask a question01Can my CA work in MyRecords?
Yes. “Invite your CA” on Close books gives your accountant the access you choose, accounts by default, until a date you set; it ends by itself. The trial balance can also reach them as a PDF every month. Users are unlimited.
02Does it replace Tally for accounting?
For most small and medium firms, yes. It also runs billing, stock, payroll and CRM on the same books. We move your Tally masters, balances and Day Book and check the totals with you. See switching from Tally.
03Do invoices post to the ledger automatically?
Yes. A sales or purchase invoice, payment, stock movement or pay run posts its accounting entry when it is submitted; a draft posts nothing. There is no separate posting run.
04Which financial statements does it produce?
General ledger, trial balance, profit and loss, cash flow and the balance sheet, plus the Schedule III balance sheet, profit and loss and notes to accounts. They run from the same books in real time.
05Can it reconcile my bank automatically?
Auto-match marks every line with a clear match (the same reference, or the same amount near the date), and every other line shows its suggestions for you to accept. Statements come in as CSV or Excel files. Direct bank feeds are not available yet.
06Can I bill in another currency?
Yes. An invoice can be in the customer's currency while the books stay in yours. At year end, “Revalue foreign currency” on Close books books the exchange difference.
07Is there a per-user charge for accountants?
No. Users are unlimited on every module. You pay for the modules you switch on, never per person.
08Can I run more than one company?
Yes. Each company keeps its own books, GSTIN and reports, and the consolidated statements add them up. Extra companies beyond your plan's allowance are added to your quote.
Last updated Applies to MyRecords 3 Nov 2026 release Expert review pending
Next step
See it on your own numbers.
A live demo on our sample company, with the modules you would switch on. Or ask us for a quote first.
Live demo
Book a walk-through
- On our sample company, for your kind of work
- A quote for the modules you need
- Your questions, answered by our team