Structured chart of accounts
Accounts are typed — asset, liability, equity, revenue, expense — and organised into a hierarchy you define to fit the business.
A real double-entry ledger, not a list of invoices with a total at the bottom.
Farexa Accounting is a full general ledger — chart of accounts, posted journals, accounting periods, and statements that tie out — so the trial balance is something the system produces, not something your accountant rebuilds.
A lot of software marketed as accounting is really invoicing with a running total. It can tell you what you billed, but ask it for a trial balance or a balance sheet at a date and it has nothing to give you, because there was never a ledger underneath. Farexa Accounting is the ledger. Every account has a type — asset, liability, equity, revenue, or expense — and sits in a chart of accounts you structure to match how the business is actually run.
Entries are double-entry and go through a real posting lifecycle: a journal is raised as a draft, checked, approved, and posted, and only posted entries move the ledger. Sales, purchases, and payments in the other apps post here automatically, and the posting monitor shows what came from which source and flags anything that failed to post — so you find a gap when it happens, not at month-end. Cost centres, projects, and departments attach to entries as dimensions, so the same numbers can be read by the business unit that produced them.
Because the ledger is genuine, the statements are genuine. Trial balance, balance sheet, profit and loss, and general ledger all render from posted entries against an accounting period you control and close. Tax codes distinguish standard, zero-rated, and exempt, so tax-aware records are a property of each line rather than a calculation bolted on at the end — and the VAT summary is built from those same lines.
Key features
What the ledger gives you.
Double-entry journals with a posting lifecycle
Journals are raised as drafts, approved, then posted; only posted entries move the ledger, and each carries its debits and credits.
Accounting periods you open and close
Post into an open period and close it when the month is done, so a closed month's numbers stop moving.
Statements that tie out
Trial balance, balance sheet, profit and loss, and general ledger render from posted entries — not reconstructed from invoices.
A posting monitor over every source
See which subledger each posting came from and catch anything that failed to post, instead of discovering the hole at month-end.
Cost centre, project, and department dimensions
Tag entries with dimensions so the same ledger can be read by business unit, project, or cost centre.
Tax codes with standard, zero-rated, and exempt
Tax treatment is a property of the line, and the VAT summary builds from those lines rather than a separate calculation.
Multi-currency accounts
Accounts and statements carry their currency, for businesses that don't keep their books in a single one.
How it works
From chart of accounts to closed month.
01
Build the chart of accounts. Set up typed accounts in a hierarchy that matches the business, and define the dimensions — cost centres, projects, departments — you want to report on.
02
Let the other apps post to it. Sales, purchases, expenses, and payments post to the ledger automatically; the posting monitor shows their source and flags failures.
03
Raise and approve manual journals. For adjustments and corrections, raise a journal as a draft, review its debits and credits, approve it, and post it into the open period.
04
Watch the period. Keep an eye on postings through the month via the monitor, correct anything that failed, and reconcile as you go rather than in a rush at the end.
05
Close and read the statements. Close the period and pull the trial balance, balance sheet, P&L, and VAT summary — all from the same posted entries.
Who it's for
Who runs their books here.
- Finance teams that need real books — A ledger that produces a trial balance and a balance sheet on demand, not on request to a bookkeeper.
- Multi-entity and multi-currency operators — Typed accounts, dimensions, and per-currency statements for businesses that aren't one company in one currency.
- Trading and contracting businesses — Where cost centres and projects need to be readable in the ledger, not just in a side spreadsheet.
- Accountants, controllers, and owners — Accountants post and reconcile; controllers approve; owners read statements that tie out.
Works with
Where the postings come from.
- Finance — The owner-facing money view — budgets, cash flow, aging, and assets — sits on top of this ledger.
- Sales — Invoices and payments post to the ledger as they happen.
- Procurement — Supplier invoices and receiving post through to accounts payable.
- Expenses — Expense claims and petty cash post to their accounts with tax treatment intact.
- Analytics — Statements and ledger data export to Excel, CSV, and PDF for board and audit packs.
FAQ
What finance teams check first.
Is this a real general ledger or just invoicing?
A real ledger. Accounts are typed into asset, liability, equity, revenue, and expense; entries are double-entry and posted through a draft-to-approval lifecycle; and the trial balance, balance sheet, P&L, and general ledger render from posted entries. Invoicing is a source that posts into it, not the whole of it.
Do sales and purchases post automatically?
Yes. Sales, purchases, expenses, and payments in the other apps post to the ledger as they happen, and the posting monitor shows which source each entry came from and flags anything that failed to post.
Can I report by cost centre or project?
Yes. Entries carry dimensions — cost centre, project, department — so the same ledger can be read by business unit without keeping a parallel spreadsheet.
How is tax handled in the accounts?
Tax codes distinguish standard, zero-rated, and exempt, and the treatment is a property of each line. The VAT summary is built from those lines, so tax-aware records and the VAT return come from the same data.
Can I close a month so the numbers stop moving?
Yes. Postings go into an open accounting period, and closing the period fixes that month's figures. Statements are always pulled against the period you choose.
See your own trial balance come out of it.
Book a walkthrough with your chart of accounts and tax rules, and watch sales, purchases, and journals post to statements that tie out.