Open Accounting makes life so much easier
Take control with Open Accounting and Ledgerflow
We are leading the Open Accounting revolution
‘Opening Accounting’ is the term given to what we do. It takes the Open Banking concept a big step further and allows businesses to grant Trusted Third-Parties (TTPs) access to view all the information available in their accounting ledgers.
Having the ability to access and analyse an SME’s accounting data quickly and thoroughly means you can better understand their business and tailor your services to them accordingly.
In short, Open Accounting can provide your business with a completely new, more efficient way to operate, and can even allow you to launch services that were previously unimaginable.
Why use Open Accounting?
Open Accounting gives you:
- A simple and quick way for customers to share their accounting data
- A greater understanding of your customer’s business activity
- The current financial health of their business
What does Ledgerflow add to the mix?
We provide the data the way it needs to be
- All transactions are ready-categorised in terms of revenue and expense classifications
- Every transaction in the accounting ledgers can be accessed
- Ledgerflow can also provide standard report data including a firm’s most recent month’s Profit and Loss statement and Balance Sheet, sales invoices, credit notes, aged debtors, and aged creditors
We’ve been in the digital accounting world for over 10 years
We’ve spent a decade helping firms such as Xero, Sage and QuickBooks migrate data between accounting platforms, and we’ve used the same battle hardened technology to build a SaaS Open Accounting service to help trusted third parties access valuable accounting information – including a firm’s current and future cash flows – with a greater depth and richness than ever possible before.
Open Accounting isn’t burdensome for the customer or the lender – the granting of permission is handled digitally and all the information is provided for the trusted third party to access electronically. It is tried and tested. And it is an immediately available solution to help app and service providers to offer innovative services that SMEs need.
How does Ledgerfow actually work?
Ledgerflow is a gateway API allowing you to access data from relevant accounting APIs.
All you need is a valid API access account* for any accounting platform you wish to query. Ledgerflow will look after the rest and ensure the data owners’ permissions concerning their financial data are managed appropriately. Your app then simply queries the Ledgerflow API and returns the data.
* All data is subject to the accounting platforms’ API terms and conditions for your access to information belonging to the data owner.