Financial Accounting POS System for your business

Let your business be a retail, restaurant, distribution, construction, logistics or service sectors, financial accounting software helps you to manage your day-to-day cash flow, transactions done and taxes around these accounting transactions. Take insight-driven decisions using detailed financial report of your business by adopting a financial accounting POS software. Learn more financial accounting

FREE financial accounting software
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Why choose Gofrugal's Accounting POS software?

The Gofrugal POS and its CRM software are tightly integrated with the accounting module - AccountsEasy. Hence, all bills made and ledgers created in the POS will reflect in AccountsEasy automatically which eliminates the double entry work

The accounting software has simplified voucher creations and has drastically reduced the effort spent on multiple transactions

Gofrugal AccountsEasy is suitable for small businesses till multi-chain outlet businesses

With automated tax calculations, one click is all it requires to export filing ready GSTR, TDS, TCS reports etc.

The bookkeeping software helps to make smart decisions by getting an overview of the business with 160+ insightful reports

Accounting on the go with AccountsEasy mobile app which has dashboards for quick balances of key performance indicators, accounting ratios, pictorial representation of receivables, payables, financial statements, cash positions and cash movements

Approve vouchers anywhere any time: Transactions that need approval can be approved from the AccountsEasy mobile app itself

Benefits of using Financial Accounting POS System

Multiple companies in accounting pos

Multiple companies

Manage multiple accounts of multiple companies under one financial accounting system.

Take smart decisions using accounting pos software

Smart decision

Insightful reports derived from the transactions made in the software enabling a user to make smart decisions.

Audit ready accounting software

Audit ready

Avoid manipulation by freezing and processing the ledgers in the accounting system after any periodical audit.

Banking simplified ready

Banking simplified

Predefined values to simplify recording banking activities.

enables to Purchase and sales

Purchase and sales

Purchase and sell items with/ without inventory management.

Track banking activities

Track banking activities

Have a track of every banking activity by recording in the accounting system.

Control actions of users

Control actions

Ability to control and decide what action has to be taken and by who.

Automated tax calculation using accounting pos software

Tax automation

Easing the effort spent on taxes by auto calculating the tax amount and providing the details in expected format to be directly filed.

Generate vouchers effortlessly using accounting pos

Effortless vouchers

Ability to effortlessly make and track vouchers such as purchase, sales, payments, receipts, journal, contra, debit note and credit note.

How to download free Financial Accounting management system from Gofrugal?

A good accounting software accounts for half of your success; your decision made with the help of the software ensures the rest. If you are looking for a good accounting software, then you can account on Gofrugal and discount your challenges. Get a free trial by clicking the below button.

Free financial accounting software
 Download free financial accounting software

Why do businesses need Financial Accounting software?

1000's of sales bills and 100's of purchase bills will be recorded per month in a medium-sized retail business like supermarket, F&V / a restaurant/ FMCG or pharmacy distributors. Out of these most of them would occur on a credit basis which needs to be recorded, adjusted and paid later. Every transaction made in the ERP software will atleast involve one taxation. Hence, to record and track these high volume cash flow and the taxes involved, every such industry should opt for an accounting software. Also, businesses would need online accounting software to perform accounting, approve transactions, and take decisions on the go, anywhere at any time. The freedom that online accounting POS software provides to a decision-maker is infinity.

Download free financial accounting software
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Key Features of Financial Accounting Software

These accounting software features will help you boost your business with minimal staff and least skills, enabling you to gain complete control over accounting.

Master management

Manage multiple companies

Add/ edit basic details of the company like Address, GST number, PAN to reflect in all GST invoices and returns automatically

Manage opening balance of ledgers and have a flawless balance sheet

Create 'n' number of new companies as required with different PAN and GST number to manage accounting of all company under one roof.

Manage accounting with area wise, location wise and division wise segment reporting for better clarity in day to day business processes

Create new ledger

Basic ledger groups like sundry creditors/debtors, other accounts payable/receivables, direct/indirect expenses will be available to categorize ledgers

Create new ledger groups if they are not available in default and set cash flow projection amount to predict the cash flow in upcoming days

Add ledgers like bank and cash accounts, sundry creditors, sundry debtors and map it to the appropriate ledger groups along with its basic and tax details

The GST number of party will be validated while creating the ledger and the PAN and state will be auto populated from the GST number

Migrate the ledger details and balances from your previous financial accounting software to AccountsEasy in one shot to avoid manual effort and errors

Control ledger Behavior

Decide whether vouchers made for a ledger should have the amount adjusted against a bill or should be marked as an advance/ on-account

To keep a check on receivables and to pay bills on time, set credit limit and credit days for ledgers especially, customers and suppliers

Assign ledgers to specific company, location and cost centre category to make location wise and cost category wise voucher entries

Set default bank account names for receivable ledgers so that they get mapped automatically while making a receipt voucher

Add/ edit basic details of the company like Address, GST number, PAN to reflect in all GST invoices and returns automatically

Manage opening balance of ledgers and have a flawless balance sheet

Create 'n' number of new companies as required with different PAN and GST number to manage accounting of all company under one roof.

Manage accounting with area wise, location wise and division wise segment reporting for better clarity in day to day business processes

Basic ledger groups like sundry creditors/debtors, other accounts payable/receivables, direct/indirect expenses will be available to categorize ledgers

Create new ledger groups if they are not available in default and set cash flow projection amount to predict the cash flow in upcoming days

Add ledgers like bank and cash accounts, sundry creditors, sundry debtors and map it to the appropriate ledger groups along with its basic and tax details

The GST number of party will be validated while creating the ledger and the PAN and state will be auto populated from the GST number

Migrate the ledger details and balances from your previous financial accounting software to AccountsEasy in one shot to avoid manual effort and errors

Decide whether vouchers made for a ledger should have the amount adjusted against a bill or should be marked as an advance/ on-account

To keep a check on receivables and to pay bills on time, set credit limit and credit days for ledgers especially, customers and suppliers

Assign ledgers to specific company, location and cost centre category to make location wise and cost category wise voucher entries

Set default bank account names for receivable ledgers so that they get mapped automatically while making a receipt voucher

Voucher management

  • Payment and receipt voucher

  • Expense voucher

  • Post dated cheque

  • Journal voucher

  • Purchase/ sell without inventory

Make vouchers based on scenarios with ease

Multiple recurring transactions like rent payables, receivables, salary payments, and daily expenses can be created as templates and converted to voucher entries anytime in one click

Accountants/auditors can also use an accounting system they are used to (like Tally) as Gofrugal integrates with such system for importing sales and purchase transactions directly

Give transparency to payments and make them more meaningful in reports with split-ups by creating multiple elements like salesperson, department. While making monthly employee expenses, we can record the amount given to each sales member and department wise expenses can also be recorded

Give commissions to sales rep based on the commission percentage configured to them while creation as collections are made by them. Fetch collection rep wise reports to track the same

Transactions that might or might not occur in the future can be prepared in advance as a memo. Once the transaction happens in future, it can be converted to a voucher

Never miss out on a payment, schedule them: In the accounting POS software, every payment against a ledger, from supplier payments to monthly rent expense can be scheduled and its a one-time effort

Banking management

Feed bank account details

Feed the details of cheque book like bank name, starting cheque leaf number, number of leaves into the financial accounting POS software so that they get automatically added while making payment vouchers. Also get the cheque details printed on the leaf directly


Almost every bank name in India is already available in the bank master. However, remote bank if any, can be added and loaded during receipt entries

Add bank beneficiary details (bank account number, IFSC, account holder name, bank account type) of parties to auto load while making vouchers. These details of multiple parties can be uploaded in one shot too

Every recurring narration can be pre-loaded in the accounting POS software making it easy to select narrations from the master list during voucher creation

Record banking activities

Maintain the front page of a cheque book in the accounting software which has details of cheque number and payee details

Whenever a cheque gets bounced, record it in the software along with cheque bounce charges. A debit note will automatically be created against the party in case of a cheque receivable. The bounced cheque when submitted again can be marked as represented

At one place, track the status of each cheque issued/ received, whether they are in-transit/ cleared/ bounced/ deposited

Record the bank and cash (contra) transactions like cash transfer, cash deposit, cash withdraw and bank transfer using the contra

Have a track of even 1 rupee spent/ received by reconciling the bank e-statements (BRS) in the software. Achieve 100% accuracy by making sure that the balance as per book is reconciled with the balance as per the bank statement

For certain banks like the ICICI Bank, print the cheques with a digital signature and send them to the bank account owner. These cheques can be given directly to the payees. To get the cheques printed, the bank account owner has to share the details to be filled in the cheque in .xls/ .csv format. Once the cheques payable vouchers are made in the financial accounting software, they can be exported in the required format, reducing hours of manual effort and errors

Most of the urban banks initiate online transactions for their customers, provided, the customer shares the payee details along with the amount in the required format. Once the online payable vouchers are recorded in AccountsEasy, they can be exported in the required format from the bank payment advice and can be uploaded to the net banking portal. Entering OTP for every online transaction gets skipped in this process.

Banking inside Gofrugal ERP with ICICI connected banking

100 payments in one shot: ICICI bank customers can initiate multiple online transactions from the accounting software at one shot, reducing up to 95% effort

Live current balance and payment status: Stay updated on the status of payments for better decision-making by checking the status of payments initiated and by downloading e-statement for any period in the software

One-click BRS: Reconcile ICICI Bank e-statements with one click, provided all transaction entries are available. Even if they aren't, the software will let know the entries which aren't in the software in just one click. E-statements will be fetched from the bank and auto-matched in the software reducing up to 90% effort in reconciliation. New voucher entries can be made for missing entries from the BRS screen itself

Control, audit and take smart decisions

Control
and security

Audit and process
management

Take smart decisions
with reports

Prepare GST
related reports

Pre approval process in the financial accounting system enables the management to decide and select the credit bill that has to be paid first and the accountant makes the payment voucher entries

Set budgets for each month, quarter, year or in customized time frame and keep a watch on your expenses and sales. Budgets can be set for all ledgers in the financial accounting system with 4 enforce types - Approval needed, Do not allow, Proceed, Warn and proceed

Bill enquiry and bill proposal to enable counter person to give payments or to receive cash and make a entry in it. This transaction will be reflected in ledger books upon approval from the accountant

Convey a task/ information to any user in the accounting POS software via the chat window

Control who does what in the organization by enabling, disabling or setting password for the screens like ledger master, payments, receipts with AccountsEasy's security manager

Once the cash handover process is done for the day, freeze the day's transactions by day end processing in the accounting POS software. Regular day-end processing keeps your accounting neat and flawless

Perform a year-end process to transfer the ledger balances from one financial year to another financial year or else every payment/ receipt entry made will become an on-account/ advance entry

Even if auditing happens on a random day rather than on a month-end or a year-end, the accounting book can be frozen till the date of the audit

Periodic stock auditing is mandatory to keep the financial accounting system neat. However, in case of irregular stock auditing or for miscellaneous reasons, the stock value (in amount) can be added manually in the accounting system

In day-to-day business, two suppliers might join to become one organization, transactions of one ledger might be added into another ledger by mistake. In these scenarios, either transaction data of one ledger can be merged into another ledger or an entire ledger can be merged into another

The MCA (Ministry of Corporate Affairs) has mandated the recording of all transactions in a company and to compulsorily have audit trails in the accounting software from 1st April 2022. Every bit of an action occurring in day to day business activities from ledger creation to voucher edit will be available as an audit trail report.

These are so in-depth that we can even ascertain at what time, by who, in which counter, was the change/ manipulation made. Any edit that happens in the software will be brought to attention immediately via our WhatsNow app

Get to know what happened in business today and plan the next day with the daily reports such as daybook, cashbook, bank book, day-wise transaction summary and session wise summary

Get an overview of how a particular segment (i.e) a group of ledgers, has functioned for a period with the group-wise report.

Build a relationship with the parties namely, suppliers, customers and creditors by knowing their outstanding amount to be paid, and its due date from reports such as customer/ supplier outstanding, ageing report, bill-wise settlement, balance status, rep/ area wise outstanding

From looking for cheque status till bank reconciliation Statement (BRS), all functions related to banking can be viewed in 10+ in-depth reports

To submit an accurate balance sheet for auditing, the trial balance report will act as a guide. The difference in opening balance of ledgers if any will be reflected in the trial balance

Estimate the efficiency of an organization using the profit and loss (P&L) report. Expenses and income will be netted off and the gross profit/loss, as well as net profit/ loss, will be showcased. The financial accounting software also provides uncleared party ledgers, negative outstanding balance, manual sales/ purchase, mismatch in opening/ closing balance, GSTR troubleshooting report, Cheque in hand journal entries

Determine the efficiency of the organization with accounting ratios and percentages like gross margin, profit margin, return on investment, asset turnover, DSO ratio, receivables turnover ratio, payables conversion period

Plan your investments and expenses by checking out the predicted cash flow depending on your existing transactions done in the financial accounting software. Also, view how your cash flows and fund flows have performed in the past

Add Interest on receivables and payables using interest calculation reports and also pass a journal voucher directly from the report

Even though all GSTR related reports are available in the GOFRUGAL's Tax filling app, GSTR reports are also available along with other statutory reports inside AccountsEasy like TDS forms (16A, 17, 27A, 26Q,24Q), TDS deductions and calculations, GSTR register wise summary, GSTR inward summary, GSTR-1, GSTR-2A, GSTR-2B, TCS reports, Kerala flood cess deductions

Export an accurate GSTR-1 (B2B, B2CS, B2CL outward supplies, exported supplies, credit/ debit note, bill rated supplies, advance received, advance adjusted) from the tax filing web app in excel/ CSV format. The exported file is ready to upload and requires zero manual changes

Export a ready to upload GSTR-2 (B2B inward supplies, unregistered reverse charge supplies, credit/ debit note, nil rated supplies) from the tax filing web app in excel/ CSV format

The consolidated GSTR-3B with details of Outward Supplies and inward supplies liable to reverse charge, details of inter-State supplies made to unregistered persons, composition taxable persons and UIN holders, details of eligible ITC, details of values of exempt, nil-rated and non-GST inward supplies and TDS/ TCS tax credit can be exported in ready to upload, excel/ CSV format

Annual returns have to be filed in GSTR-9. The GSTR-9 report will be accurate enough to upload right away in the GST government portal, provided every transaction is recorded correctly in the accounting POS software with proper GSTR details.

GSTR-2A can be downloaded from the tax filing web app directly and updated to verify the sales and purchases booked by the organization,

In GSTR - 1 and GSTR - 2, we can fetch HSN code summary item wise giving us an overview of items that were sold and bought during a period

In case of any mismatch in the HSN of items sold/ purchased, tax calculation of any sales or purchase and mismatch in an invoice for registered users will be identified by the tax filing web app, enabling us to edit and clear the mismatch in GSTR

Any taxpayer can be identified in the tax filling software if we have the GST number of the party. Details such as the legal name of business, centre and state jurisdiction, date of registration, the constitution of business, taxpayer type can be fetched

Details of every filling done by the GOFRUGAL's tax filling portal user can be fetched from the tax filing web app itself along with GST amount and date of payment

E-invoices can be generated for the applicable businesses based on turnover and either IRN can be generated automatically or by a manual push from the user. Either way, the effort is reduced down to one click or negligible

Once, the E-way bill portal is linked with the tax filling solution, for every dispatch invoice with a bill amount above the cut off limit, an E-way number will be automatically generated

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