--- title: "Accounting software for trading companies, with books that keep themselves" description: "1flux is accounting software for trading companies: documents post their own journals, and you pay suppliers, reconcile bank accounts and prepare VAT returns." url: https://1flux.ai/products/accounting last_updated: 2026-10-11 --- 1flux Accounting # Accounting software for trading companies, with books that keep themselves Every receipt, delivery, invoice and payment posts its own journal. Pay suppliers, reconcile your bank accounts, prepare VAT returns and see a profit and loss and balance sheet for each company. ## In short 1flux Accounting keeps complete books for trading companies that buy, stock and sell goods. Goods receipts, delivery notes, sales and purchase invoices and customer payments post to the ledger through one posting gateway, so stock and the ledger stay in step. Each legal entity keeps its own books, with a profit and loss and balance sheet straight from the ledger. You pay suppliers, reconcile your bank accounts against the ledger, prepare VAT returns from the VAT already posted and consolidate the group in one currency. The Accounting overview opens on what needs you, sorted by severity, above the four tiles. View as text 1. The finance manager opens the Accounting overview. 2. The most severe row comes first: AED 96,400.00 overdue across 5 customers. 3. Then goods received not invoiced older than 30 days, and goods receipt reports still at provisional cost. 4. Then draft journals waiting to post and the month-end close reminder: 3 of 6 close steps done. 5. Each row opens exactly the records it counts. The problem ## Do your books run a step behind the business? In most trading companies they do. Invoices are retyped into the accounting package, cost of sales goes in at month-end, and the close starts with the same questions. - “Why doesn't the receivables report agree with the control account?” - “Our stock report and our accounts never match at month-end.” - “Who changed last month after we reported it?” - “Every company in the group has its own spreadsheet, and consolidating takes a week.” Supplier payments sit in one spreadsheet, the bank in another, and the VAT return is rebuilt from both every quarter. The cause is simple: operations and the ledger live in different systems, joined by people re-keying numbers. Books per entity ## Separate books for every company you run 1flux keeps a separate [double-entry](https://1flux.ai/glossary/double-entry-bookkeeping) set of books for every [legal entity](https://1flux.ai/glossary/legal-entity) in your workspace. A trading company and its subsidiary in another country each have their own base currency, accounting periods, journal numbering, costing method and go-live date. Nothing mixes unless you consolidate. - **One shared master chart.** Each entity keeps its own local account codes and names, which roll up to group-wide master accounts. - **Always clear whose books you’re in.** Every accounting page names the entity and currency. Switch company from the top bar (⌘⇧E). - **Entity-level access.** Limit each person to the companies they work in, set when you invite them. - **Country packs.** Legal entities can be set up in the UAE, Saudi Arabia and India, each with its own VAT or GST codes and registration fields. 1. Legal entities - AE · AED Sadaf Building Supplies LLC - SA · SAR Sadaf Trading Company - Holding Consolidation into AED 2. One workspace - Sadaf Group workspace One login, entity-level access Each legal entity keeps its own currency and books, side by side in one workspace. Automatic posting ## Accounting software for trading companies, where every document posts itself When stores post a goods receipt report or the warehouse dispatches a delivery note, 1flux posts the matching journal entry in the same step as the stock movement. Every posting passes one gateway first. Every posting document passes the same four checks, then writes stock, cost layers and the journal in one step. View as text 1. Stores post goods receipt report GRR-2026-0074 for 40 of 50 ordered units. It goes to the posting gateway, the only path to the ledger. 2. Check 1: an open accounting period covers the posting date. 3. Check 2: the entry balances, so debits equal credits. 4. Check 3: every account resolves through the posting account mapping. 5. Check 4: the document can't post twice. A repeated submit replays the first result. 6. In one step, 1flux writes the stock quantity (40 units into Jebel Ali warehouse), the cost layer (40 at AED 14.20) and the journal: Dr Inventory AED 568.00, Cr goods received not invoiced AED 568.00. 7. Delivery notes, sales invoices, customer payments, purchase invoices, write-offs, stock counts and opening balances pass the same gateway. ### Which documents post their own journal? Each of these posts a balanced [journal entry](https://1flux.ai/glossary/journal-entry) automatically: - **Goods receipt reports:** Inventory against [goods received not invoiced (GRNI)](https://1flux.ai/glossary/goods-received-not-invoiced), the liability for goods that have arrived but haven’t been billed yet. - **Delivery notes:** [cost of goods sold](https://1flux.ai/glossary/cost-of-goods-sold) against Inventory, at the entity’s costing method. - **Sales invoices:** the receivable, revenue and output VAT. - **Customer payments:** cash or bank against the receivable, with any realised FX gain or loss. - **Purchase invoices:** GRNI cleared, input VAT, the payable and any price or FX variance. - **Write-offs, stock counts, opening stock and opening balances.** Supplier payments post to the ledger too: pay suppliers and allocate each payment to purchase invoices. ### What does the posting gateway check? Every posting from these documents goes through one posting gateway. It checks that the period is open, the entry balances and every account is mapped. A repeated submit can’t post twice. Each ledger line links back to the document that created it. Stock quantity, cost layers and the journal are written in one step, so stock and the ledger stay in step. A manual journal can still post to the inventory account, so the overview’s **Stock vs ledger** check flags any difference. [How automated posting works](https://1flux.ai/products/accounting/automated-posting) Journals ## Manual journals that can't be quietly rewritten For accruals and adjustments, 1flux gives accountants a fast journal editor and a strict lifecycle. - **Four statuses:** Draft, Posted, Void and Reversed. A draft can be saved out of balance; posting needs debits to equal credits. - **Built for the keyboard:** up to 200 lines, ⇧N to add a line, ⌘S to **Save draft** and ⌘Enter to **Save & post**, with inline account creation. - **Custom fields** on entries and lines, plus bulk **Post drafts** and **Delete drafts** from the register. - **Posted lines can’t be changed.** Editing an amount, account or date posts a reversal and a corrected entry, linked both ways. - **A per-entry audit trail** shows who created, posted, voided, reversed or corrected each entry. - **Preparing and posting are separate permissions,** so accountants prepare while posting stays with the finance manager. [The general ledger and journals](https://1flux.ai/products/accounting/general-ledger) - A manual journal in Sadaf Building Supplies LLC, in AED, dated 30 September 2026, memo "September accruals". - Lines: Office rent debit 12,500.00; Utilities debit 2,180.00; Accrued expenses credit 14,680.00. - Totals: debit 14,680.00, credit 14,680.00, difference 0.00. The entry is Balanced. - Actions: Save draft (⌘S) or Save & post (⌘Enter). A balanced manual journal, ready to save as a draft or post. Posted lines can’t be edited afterwards. General ledger ## Ledgers that drill down to the document The general ledger lists every account with its debits, credits and closing balance for any date range. It groups accounts by nature (assets, liabilities, equity, revenue, cost of goods sold, expenses and more) with subtotals and a “Debits equal credits” check, and works as your [trial balance](https://1flux.ai/glossary/trial-balance). Open any account for its account ledger: every line, a running balance and a link to the journal and source document behind it. - The [chart of accounts](https://1flux.ai/glossary/chart-of-accounts) is a tree with balances. Drag an account by its handle to re-parent it. - **Install trading template** adds a 25-account trading chart (5 headings and 20 posting accounts), including input and output VAT, GRNI, intercompany accounts, price variances and FX. - Import and export the chart as CSV, with Arabic account names supported through import. - Export the general ledger and every account ledger to CSV. 1. General ledger (Debits equal credits). 2. Account ledger (Inventory · running balance). 3. Journal (Dr Inventory · Cr GRNI). 4. Goods receipt report (GRR-2026-0074): Posted. Every ledger line links to its journal and the document behind it. Receivables ## Receivables that tie to the ledger 1flux tracks what customers owe from posted sales invoices, and proves the total against the ledger. Each invoice takes its due date from the customer’s [credit days](https://1flux.ai/glossary/credit-days), counted from the invoice date, the delivery date or the month-end statement date. - One customer payment can settle several invoices. **Apply oldest first** allocates it for you. - [Receivables aging](https://1flux.ai/glossary/accounts-receivable-aging) in five buckets: Current, 1–30, 31–60, 61–90 and over 90 days. - A **Ledger check** reconciles open invoices to the receivable control account and shows **Reconciled** or the difference. - Every customer has a statement with a running balance, exportable to CSV. [Receivables and customer payments](https://1flux.ai/products/accounting/receivables) - Open receivables: AED 964,120.00. Overdue: AED 96,400.00. Over 90 days: AED 9,600.00. Ledger difference: AED 0.00. - Current: AED 867,720.00. - 1–30 days: AED 52,300.00. - 31–60 days: AED 24,800.00. - 61–90 days: AED 9,700.00. - Over 90 days: AED 9,600.00. - Ledger check: receivable accounts in the ledger AED 964,120.00; open sales invoices AED 964,120.00; journals without a customer AED 0.00. Reconciled. Receivables aged by due date. The ledger check proves open invoices match the control account. The rest of the books ## The rest of the books: supplier payments, statements, bank reconciliation and VAT returns 1flux Accounting covers the rest of a trading company's books in the same ledger that operations post to. Supplier payments ### Pay suppliers from the same ledger Pay suppliers and allocate each payment to purchase invoices. Payments post to the ledger. - Purchase invoices are built from received goods. - The payable, input VAT and any price variance post first. Financial statements ### Profit and loss and balance sheet Profit and loss and balance sheet for each legal entity, straight from the ledger. Every receipt, delivery, invoice and payment has already posted. Bank reconciliation ### Reconcile the bank Reconcile your bank accounts against the ledger. Customer payments post to the bank or cash account you choose. VAT returns ### VAT returns from posted VAT Prepare VAT returns for the UAE and Saudi Arabia from the input and output VAT already posted. E-invoicing ### E-invoicing built in ZATCA and UAE e-invoicing built in, in the same sales flow that posts the ledger. [E-invoicing in 1flux](https://1flux.ai/products/e-invoicing) VAT codes apply per line at the rate in force on the document date, and [input and output VAT](https://1flux.ai/glossary/input-and-output-vat) post to their own accounts. The overview’s **Net result** tile is a quick dashboard figure; the profit and loss is the statement. Controls ## Periods, policies and mapping keep posting clean Three settings per entity decide when, how and where documents post. When one is missing, posting stops with a message that says what to fix. - ### Monthly periods per entity Open the months you are working in. A closed period refuses every posting, from manual journals to deliveries and payments. - ### Ledger policies The backdating rule for stock postings, the ledger [cutover date](https://1flux.ai/glossary/cutover-date), weighted average, FIFO or standard cost, the negative-stock rule and the month your fiscal year starts. - ### Posting account mapping Each purpose, such as Sales revenue, Output VAT or Goods received not invoiced, maps to one account, with item-level overrides. A missing mapping blocks posting. Multi-currency ## Foreign currency, without guesswork 1flux records each document in its own currency and keeps the books in the entity’s [functional currency](https://1flux.ai/glossary/functional-currency). - Daily exchange rates, up to 8 decimal places. Documents use the latest rate on or before their date. - A missing rate blocks posting with an instruction. 1flux never guesses a rate or assumes a currency. - [Realised FX gain or loss](https://1flux.ai/glossary/fx-gain-and-loss) posts automatically on customer payments and purchase invoices. - Three-decimal currencies such as KWD, BHD and OMR round correctly. A euro invoice, paid at a different rate Example - Sales invoice: EUR 20,000.00 at 4.0120 AED 80,240.00 - Customer payment: EUR 20,000.00 at 4.0310 AED 80,620.00 - Receivable cleared at the booked rate AED 80,240.00 Realised FX gain, posted automatically AED 380.00 Illustrative rates. 1flux uses the daily rates you enter. Needs action ## Open the day on what needs you The Accounting overview is a finance lead’s morning page for the selected entity. It opens on **Needs action**: up to six rows, most severe first, each with one button that opens the exact records behind it. People only see the rows they can act on. Rows such as “Posting is blocked: 3 accounts have no mapping” or “No open period for November 2026” appear the moment something would stop posting. Below the list sit four tiles (Cash and bank, Receivables, Owed to suppliers and Net result), a 12-month Revenue and expenses trend, receivables aging and recent journals. **Books health** shows whether the books can be trusted today: the trial balance, suspense and clearing accounts, stock against the ledger, GRNI over 30 days, output against input VAT for the quarter and the last consolidation. - Accounting: Needs action. - AED 96,400.00 overdue across 5 customers. Action: View aging. - 2 draft journals are out of balance. - Goods received not invoiced: AED 38,250.00 older than 30 days. - Inventory ledger differs from stock valuation by AED 3,150.00. - 4 draft journals waiting to post. - October 2026 closes in 3 days · 3 of 6 close steps done. Rows sort by severity, and each one opens exactly the records behind it. Month-end close ## Close the month from a checklist that ticks itself Each entity’s overview carries a six-step [month-end close](https://1flux.ai/glossary/month-end-close) checklist. Each step ticks itself as the work gets done, using the same data as the Needs action rows: 1. Post or delete draft journals. 2. Clear provisional costs on goods receipt reports. 3. Review goods received not invoiced. 4. Reconcile inventory with the ledger. 5. Match intercompany balances. 6. Close the period. The **Close period** button on the checklist unlocks once the first five steps are done. As month-end approaches, a Needs action row counts down, for example “October 2026 closes in 3 days · 3 of 6 close steps done”. - The close checklist for October 2026 on the Accounting overview of Sadaf Building Supplies LLC: 3 of 6 steps done. - 1\. Post or delete draft journals: done. - 2\. Clear provisional costs on goods receipt reports: done. - 3\. Review goods received not invoiced: done. - 4\. Reconcile inventory with the ledger: not done yet. - 5\. Match intercompany balances: not done yet. - 6\. Close the period: not done yet. - The Close period button stays locked until the first five steps are done. The close checklist ticks itself from the same data as the Needs action rows. Close period unlocks after step 5. Consolidation ## See the whole group in one currency For groups, a consolidation run combines every operating entity's ledger into one group currency, with the translation difference shown for each entity. Each company keeps its own currency. The run translates them into the group currency and shows the difference. View as text 1. Two companies have closed September 2026: Sadaf Building Supplies LLC keeps its books in AED, Sadaf Trading Company in SAR. 2. Income and expenses translate at the month’s average rate: SAR 1 = AED 0.9790. SAR 400,000.00 of sales revenue becomes AED 391,600.00. 3. Assets, liabilities and equity translate at the closing rate: SAR 1 = AED 0.9800. SAR 180,000.00 of receivables becomes AED 176,400.00. 4. Because two rates are used, the translated books differ by AED 100.00. 1flux shows it as a translation difference for the Saudi company. 5. The final run produces a consolidated trial balance by account in AED: debits and credits of AED 2,410,700.00 each. It is a trial balance, not formatted group statements, and it exports to CSV. Income and expenses translate at the month’s average rate and balances at the closing rate, with the [translation difference](https://1flux.ai/glossary/currency-translation-difference) shown for each entity. Run a draft to review, then a final run once the month is closed: 1flux refuses a final run while any entity’s period is still open. The output is a consolidated trial balance by account, with each entity’s currency and the group currency side by side, and it exports to CSV. [Multi-entity consolidation](https://1flux.ai/products/accounting/consolidation) How it works ## From a new entity to a closed month On a new entity, the overview shows a “Get ready to post” checklist instead of a page of zeros. 1. ### Set your ledger policies Cutover date, costing method, backdating rule and fiscal-year start. 2. ### Set up the chart of accounts Install the trading template, import a CSV or add accounts one by one. 3. ### Map posting accounts Each purpose (revenue, receivables, VAT, inventory, GRNI) knows where to post. 4. ### Open an accounting period For the month you are ready to work in. 5. ### Bring in opening balances Import the opening trial balance and opening stock on the cutover date. 6. ### Work as normal Documents post as your team uses them. Finance records customer and supplier payments, reconciles the bank and adds manual journals. 7. ### Close the month Close from the checklist, prepare the VAT return when it is due, then run consolidation if you have several entities. One flow ## Connected to the rest of 1flux Sell, buy, stock and account. One record. Accounting is fed by the documents your sales, purchasing and warehouse teams already create. 1. [Sales orders](https://1flux.ai/products/sales-orders) Delivery note → cost of sales 2. [Purchasing](https://1flux.ai/products/purchasing/goods-receiving) Goods receipt → Inventory, GRNI 3. [Inventory](https://1flux.ai/products/inventory) Counts, write-offs → at cost 4. [E-invoicing](https://1flux.ai/products/e-invoicing) Sales invoice → e-invoice 5. Accounting - **Sales and fulfilment.** Delivery notes post cost of sales. Sales invoices post the receivable, revenue and output VAT, and customer payments clear them. See [sales orders and fulfilment](https://1flux.ai/products/sales-orders). - **Purchasing and receiving.** Goods receipt reports post inventory and GRNI. Purchase invoices clear GRNI and post input VAT, the payable and any variances, and supplier payments are allocated to them. See [goods receiving](https://1flux.ai/products/purchasing/goods-receiving). - **Inventory.** Write-offs, stock counts and opening stock post at cost, using the costing method set for each entity. - **E-invoicing.** ZATCA and UAE e-invoicing built in. - **CRM.** Each customer’s credit days and their basis flow into invoice due dates. Who it's for ## Who is 1flux Accounting for? Finance teams at trading companies and groups that want the ledger current every day, not at month-end. - ### [Finance managers and CFOs](https://1flux.ai/products/accounting/general-ledger) Keep the ledger current every day and finish the close you start. - ### Accountants Prepare journals, record customer and supplier payments and reconcile the bank. - ### [Owners of business groups](https://1flux.ai/solutions/business-groups) Run several companies with separate books and see the group in one currency. FAQ ## Questions, answered Still deciding? [Talk to sales](https://1flux.ai/contact) ### Does 1flux produce a P\&L and balance sheet? Yes. 1flux produces a profit and loss and balance sheet for each legal entity, straight from the ledger. Behind them sit a trial-balance-style general ledger with a "Debits equal credits" check, account ledgers that drill down to the source document, and CSV exports. The overview's Net result tile and Revenue and expenses chart are quick dashboard figures; the profit and loss is the statement. ### Can 1flux pay suppliers? Yes. In 1flux you pay suppliers and allocate each payment to purchase invoices, and payments post to the ledger. Purchase invoices are built from received goods, so the payable, input VAT and any price variance are already posted when you pay. The Accounting overview shows what you owe suppliers. ### Does 1flux do bank reconciliation? Yes. You reconcile your bank accounts against the ledger in 1flux. Customer payments post to the cash or bank account you choose when you record them, and supplier payments post to the ledger, so the ledger side of the reconciliation is current. The Accounting overview shows cash and bank balances for each entity. ### Does 1flux prepare VAT returns? Yes. 1flux prepares VAT returns for the UAE and Saudi Arabia from the input and output VAT already posted. UAE (5%) and Saudi (15%) VAT codes apply per line at the rate in force on the document date, and input and output VAT post to their own accounts. Books health compares output against input VAT for the quarter. ### Does 1flux handle ZATCA and UAE e-invoicing? Yes. 1flux issues ZATCA-compliant e-invoices for Saudi Arabia, covering Phase 1 (generation) and Phase 2 (integration with ZATCA's Fatoora platform). 1flux supports UAE e-invoicing under the Federal Tax Authority's programme, ready for the 2027 go-live dates. Which dates apply to you depends on your business, so confirm yours with your tax adviser. Read about [e-invoicing in 1flux](https://1flux.ai/products/e-invoicing). ### Can 1flux keep the books for several companies? Yes. Each legal entity in a 1flux workspace keeps its own double-entry books, base currency, periods and journal numbering, on a shared master chart. People can be limited to specific entities when you invite them. A consolidation run combines every operating entity's ledger into one group currency, as a consolidated trial balance by account. ### How does 1flux correct a posted journal? 1flux locks posted journal lines, so posted figures can't be quietly rewritten. Memo and custom-field edits save in place while the period is open. Changing a date, account or amount posts a reversal and a corrected entry in one step, linked both ways, and the entry's audit trail records who did it. Automatic journals are corrected from their source document instead. ### How do we bring our opening balances into 1flux? 1flux imports your opening trial balance. Set the ledger cutover date, then upload a CSV or Excel file (or paste rows) with account code, debit and credit. Review it in a grid and post one opening journal. 1flux checks that it balances exactly, posts it once per entity and refuses anything dated earlier. Opening stock comes in through its own import. ### Does 1flux handle customers who pay in foreign currency? Yes. Invoices and payments can be in any currency, using the daily rates you enter. A payment clears the receivable at the invoice's booked rate and posts the realised FX gain or loss automatically. If a rate is missing, posting stops and points you to the exchange rates setting, so 1flux never guesses a rate. ### Can 1flux run our day-to-day books? Yes. 1flux keeps the day-to-day books of a trading company. Goods receipts, deliveries, invoices and payments post their own journals, finance manages receivables and purchase invoices in any currency with realised FX, and each legal entity keeps its own books. The opening trial balance import brings your balances across on the cutover date. Related ## Keep exploring ### [Automated posting](https://1flux.ai/products/accounting/automated-posting) Receipts, deliveries, invoices and payments post balanced journals through one gateway. ### [General ledger and journals](https://1flux.ai/products/accounting/general-ledger) A chart of accounts in minutes, journals that can't be rewritten and periods that stay closed. ### [Receivables and receipts](https://1flux.ai/products/accounting/receivables) Apply payments across invoices, age every balance and prove the total against the ledger. ### [Multi-entity consolidation](https://1flux.ai/products/accounting/consolidation) Every company's ledger in one group currency, with a visible translation difference. ### [E-invoicing](https://1flux.ai/products/e-invoicing) ZATCA and UAE e-invoicing built in, in the same flow that posts your books. ### [Multi-company and multi-entity](https://1flux.ai/platform/multi-entity) Several legal entities in one workspace, each with its own registrations, currency and books. Last updated 11 October 2026