# Accounting overview

**Category:** [Accounting](https://help.totalctrl.app/hc/totalctrl/totalctrl-help-center/en-US/categories/accounting)
**Updated:** 2026-08-19

TotalCtrl Accounting is a full **double-entry** accounting platform. Every business event — an invoice, a bill, a payment, a bank import, a Stripe charge, a payroll run — posts a balanced journal entry to a real chart of accounts, so your trial balance, balance sheet and profit & loss always tie out.
## What's included

- **Invoices, bills & expenses** with Stripe payment links and AI receipt OCR.
- **Multi-currency** general ledger with automatic FX conversion and gain/loss.
- **Bank reconciliation** with AI categorization (via Plaid).
- **Sales tax** rates and a tax-liability report.
- **Inventory & cost of goods sold**, with live **Square POS** import.
- **Payroll** via Gusto (or manual entry).
- **Subscription revenue** — live MRR/ARR and deferred-revenue recognition.
- **Budgets, fixed assets, and a month-end close** with period locking.

## How money flows

Issue an invoice → it debits Accounts Receivable and credits Sales. Take the payment → it moves A/R into your bank account. Connect Stripe, Plaid, Square or Gusto and those entries post automatically. See [multi-currency](base-currency-and-multi-currency) and [month-end close](month-end-close) to get the most out of it.

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## Related Articles

- [Payroll: connect Gusto or record runs manually](https://help.totalctrl.app/en-US/articles/payroll)
- [Sales tax: rates and the tax report](https://help.totalctrl.app/en-US/articles/sales-tax)
- [Accounting overview](https://help.totalctrl.app/en-US/articles/accounting-overview-1)
- [Create and send an invoice](https://help.totalctrl.app/en-US/articles/create-an-invoice)
- [Creating and Sending Invoices](https://help.totalctrl.app/en-US/articles/creating-and-sending-invoices)

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