Product
A ledger you can file from
Every payment, invoice, refund and dispute is posted to a real-time double-entry ledger, per legal entity. Balances come from it, and so do your tax returns.
The ledger
Double-entry, in real time
Every transaction balances, amounts are exact integers, and posted entries are never changed: a correction is a new transaction.
Revenue per brand
One legal entity can run several brands. Revenue is kept per brand, while tax payable, registrations and returns are shared by the entity.
Balances you can trust
Prepaid wallets, reservations, tax payable, processor clearing, refunds and chargebacks each have their own accounts, and a trial balance is always one call away.
Invoices and credit notes
Invoices and credit notes are issued in your legal entity's name, with the numbering, fields and wording each jurisdiction requires, as PDF and in your customer's language. Refunds create credit notes that point to the original invoice.
E-invoicing through a certified provider, where your country requires it, is in development.
Filing packages
For each filing period, Ownrecord builds the return from your ledger and invoices, never from processor data:
- EU One-Stop Shop returns, per member state and rate, with corrections of earlier periods;
- EU domestic VAT, UK VAT and Swiss VAT returns;
- US sales tax returns per state, and VAT or GST returns for other regimes.
Each report comes as CSV and XLSX, reconciled with the ledger, with the exchange rates it used. You, your adviser or an agent submits it from a task, and the period records what was filed and paid.
Reconciliation and exports
- A daily run matches your processor's payouts, fees and payments to the ledger and queues anything that doesn't match.
- Bank statements imported as CSV are matched to invoices paid by bank transfer.
- Accounting exports give you the journal with your own chart of accounts, and the invoice and credit note registers, for each period.
Many entities, many brands
An organization can hold several legal entities, each selling under several brands. Each brand has its own catalog, checkout, domain, keys and invoice series; each entity has its own registrations, ledger and returns.