Introduction to Accounting on Refrens
With accounting, you can create & manage ledger accounts, pass journal entries, record cash/non-cash transactions, generate balance sheet & P&L reports, and more - everything in one place.
This article will give you an overview of all the accounting features, who can access them, and how to use them.
What are the accounting features?
The accounting features consist of -
1. Accounts
Simplify your financial management with organized accounts (ledgers). Record all your business transactions & track respective ledger entries for each.
2. Account Groups
Streamline and improve financial reporting for your business by segmenting all your accounts into different groups, categories, and types.
You can classify each account into different categories like current assets, non-current assets, current liabilities, non-current liabilities, and more. You can further assign them different account types like Assets, Liabilities, Income, Expenses, and Capital.
3. Voucher Books
Voucher Books help you record & track all your cash/non-cash transactions with ease.
4. Balance Sheet Report
Automatically generate a Balance Sheet to quickly get a snapshot of your business’s financial position.
5. Trial Balance Report
Ensure that all entries in your company's bookkeeping system are mathematically correct with the trial balance report.
6. Income Statement (P&L) Report
An income statement (or P&L statement) helps you track your profitability, understand where your money is going, and make informed decisions about how to increase revenue, reduce costs, or both.
How to get started with accounting features?
How to activate accounting features for your account?
To get started, go to business settings > advanced accounting options > update your financial year details.
Then select "sync" to sync the selected documents & automatically pass journal entries for each of them.
What happens when you click on “Sync Selected”?
After you click on sync selected, the system will start working on syncing all the selected documents & payment records that you have already created.
Depending on the number of documents you have, the time for the sync to get completed will vary. You will get notified via email when the sync is completed.
In rare cases, the syncing might fail. In that case, our engineering team will automatically get notified. You will also receive an email regarding this. Rare cases like this are handled on a priority basis, so rest assured that our team will start working on it at the earliest & will reach out to you regarding the progress.
What to do once your documents are synced successfully?
If all your documents are synced successfully, that means you can start using the accounting features from now!
First, let's understand what happens when the documents are synced.
After the sync is done successfully, these four things will happen:
- The system will automatically create & sync accounts for all your clients & vendors
- It will also create & sync accounts for sales tax a/c, purchase tax a/c, invoice credit a/c, expense debit a/c, credit note debit a/c, etc.
- Different Vouchers for invoices, expenses, credit notes, debit notes, payments, receipts, etc. will be created & synced automatically.
- The system will automatically pass the ledger entries for all the synced accounts.
Now, let's see how you can get started.
Well, start exploring all the accounting features. If you don't know where to start, here's your little guide:
Step 1: You can view reports like balance sheets, trial balances, income statements, etc. from Accounting > Account Reports (or just click here!)
Step 2: Go to Accounting in the sidebar. Explore all the accounts, voucher books, and account groups. You can edit or create new ones according to your preference.
Step 3: Add your team members and accountant to Refrens. See How>
Refrens will automate most of the accounting for your business. So unless you are an accountant, you don't really have to worry about these functionalities.
As a business owner, all you need is the accounting reports to get insights into your business finances. However, as Refrens automatically passes all necessary journal & voucher entries for you, it makes it a whole lot easier for you to coordinate with your accountant. So, add your CA to Refrens and remove unnecessary back-and-forth for all the minute details!
Now, let's understand how to use each feature in detail.
What are account groups, categories, and types?
How to create, edit, and download account groups?
What are voucher books & voucher types?
How to create new voucher books & add voucher entries?
How to create accounts (i.e. ledgers) and track ledger entries?
How to upload accounts in bulk?
Updated on: 03/07/2026
Thank you!