Features / Accounting & Books
Proper double-entry books, without a bookkeeper configuring them.
Australian chart of accounts, pre-seeded and correct from day one. Every transaction generates balanced debit-credit journals automatically. Financial statements come out the other end — P&L, balance sheet, cash flow — ready to show an accountant or a bank. The ledger is real, the books are real, no manual journals required.
Features · Accounting & Books
Overview
By what you hold
People and pay
Meeting the ATO
Asking for help
For accountants
A real ledger, not a spreadsheet.
The ledger underneath everything.
Every transaction in myaccountant — a bank feed line, an invoice payment, a payroll finalisation, a property manager statement, a tax estimate — automatically generates the debit and credit journals that proper accounting requires. The books are always in balance. The journal ledger is searchable, exportable, and audit-ready. When an accountant asks for "the journals," you open the same screen they would open.
Financial statements, ready to hand over.
The platform generates fully formatted Special Purpose Financial Statements — cover page, P&L, balance sheet, cash flow statement, and eleven standard notes — for Companies, Sole Traders, Partnerships, and Trusts. The document is entity-aware: the notes that apply to a company do not show for a sole trader. Every field is a live merge from the ledger, so the statements never go stale. Click any number to see the transactions underneath it. Click any sentence to edit it. Export as a polished Word document or PDF.
A commentary that reads like a briefing, not a report.
Alongside the standard reports, the platform writes a plain-English narrative explaining what the numbers actually show — which categories moved, by how much, and why. "Travel expenses are up 40% this quarter; most of the increase is interstate flights in March." The commentary sits next to the report so the owner can read it without an accountant's interpretation.
What else you get.
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Australian chart of accounts — 31 pre-seeded accounts mapped to standard Australian classifications. Correct from day one.
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Opening balances — Set starting cash, asset, and equity balances when migrating to the platform. Mid-year switchovers do not lose history.
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Auto-healing journal seeder — On every system start, the platform checks that every transaction has correct journal entries and quietly fixes any gaps. Books stay correct even after imports, edits, or migrations.
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Cross-module journal posting — Invoices and Payroll automatically post their journals to the ledger. No manual entry between modules.
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Multi-company support — Multiple companies on one login, each with its own ledger. Consolidated views available for owners with several entities.
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Opening balance entry per property — Enter purchase price, loan balance, and settlement date; the platform creates the corresponding journals.
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ATO risk flagging — Transactions that may trigger an ATO audit (large repairs that could be capital, GST inconsistencies, unusual spikes) are flagged during preparation, not during audit.
The reports that come with it.
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Profit & Loss — Standard P&L for any period, with multi-company and comparative views.
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Balance Sheet — Snapshot of assets, liabilities, and equity at any point in time.
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Cash Flow Statement — Money in, money out, opening and closing balance for any period.
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Journal Ledger — Every journal entry across Business, Property, and Personal in one searchable view.
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Special Purpose Financial Statements — Full-format statements for Companies, Sole Traders, Partnerships, and Trusts — entity-aware, live-merged from the ledger, exportable as Word or PDF.
See the rest of the platform.
Every feature of myaccountant follows the same philosophy — show what matters, hide what does not, earn the reader's attention before demanding it. Browse the full Features library to see how each piece of the platform is shaped around that principle.