Welcome to

microbooks.io

The World's first 100% API based Bookkeeping Platform designed to automate routine Accounting to produce financial reports that are compliant with the IFRS and GAAP Reporting Standards.

Examples

The quickstart below should enable you to obtain the following (Text Format) Financial Statements. The Statements can also be retrieved in HTML and PDF formats.
Acme Inc Income Statement For the Period: Jan 01, 2024 to Feb 28, 2024 Operating Revenues Operating Revenue 250 Operating Expenses Operating Expense 120 -------------- Gross Profit 130 -------------- Total Revenue 130 Non Operating Expenses Direct Expense 50 -------------- Total Non Operating Expenses 50 -------------- Net Profit 80 ==============

Quickstart

This quickstart demonstrates how you can use the API to arrive at a set of Financial Statements with a minimal of inputs. After registering/logging in, all you have to do is follow the steps below.

Business Setup

First we need to setup the Entity (business) for which we'll be generating reports.
curl --location --request POST 'https://api.microbooks.io/books/v1/entity' --header "Authorization: Bearer <bearer_token>" --data-raw '{ "name": "Acme Inc", "currency_code": "USD", }'

Accounts

Next we'll need to setup our Chart of Accounts by adding some.
curl --location --request POST 'https://api.microbooks.io/books/v1/account' --header "Authorization: Bearer <bearer_token>" --data-raw '{ "name": "Capital Account", "account_type": "EQUITY" }'
This call sets up the Capital/Equity Account. Repeat the call above with the following parameters to create the rest of the chart:
  • Bank Account

    BANK

  • Sales Account

    OPERATING_REVENUE

  • Client Account

    RECEIVABLE

  • Supplier Account

    PAYABLE

  • COGS Account

    OPERATING_EXPENSE

  • Expense Account

    DIRECT_EXPENSE

  • Asset Account

    NON_CURRENT_ASSET

  • Taxes Account

    CONTROL

Taxes

Then we'll setup some taxes (Vat), both output (for sales) and input (for purchases) types.
curl --location --request POST 'https://api.microbooks.io/books/v1/tax' --header "Authorization: Bearer <bearer_token>" --data-raw '{ "name": "Output Vat", "code": "OTP", "rate": 10, "account_id": <taxes account id>, }'
To create the input tax, repeat the call above with the inputs:
{
    "name": "Input Vat",
    "code": "IPT",
    "rate": 5,
    "account_id": <taxes account id>
}

Transactions

We're now ready to record some transactions.

Cash Sale

curl --location --request POST 'https://api.microbooks.io/books/v1/transaction' --header "Authorization: Bearer <bearer_token>" --data-raw '{ "account_id": <bank account id>, "transaction_type": "CS", "narration": "Cash Sale", "transaction_date": "2024-02-01", "post_transaction": true, "line_items": [{ "account_id": <sales account id>, "amount": 100, "narration": "Cash Sale Line Item", "taxes": [<output tax id>] }] }'

Credit Sale

Repeat the call above with the following inputs:
{
    "account_id": <client account id>,
    "transaction_type": "IN",
    "narration": "Client Invoice",
    "transaction_date": "2024-01-28",
    "post_transaction": true,
    "line_items": [{
        "account_id": <sales account id>,
        "amount": 150,
        "narration": "Credit Sale Line Item",
        "taxes": [<output tax id>]
      }]
 }

Cash Purchase (Operating Expense)

Repeat the call above with the following inputs:
{
    "account_id": <bank account id>,
    "transaction_type": "CP",
    "narration": "Cash Purchase",
    "transaction_date": "2024-01-28",
    "post_transaction": true,
    "line_items": [{
        "account_id": Operating Expense Account
        "amount": 120,
        "narration": "Cash Purchase Line Item",
        "taxes": [<input tax id>]
      }]
}

Cash Purchase (Non - Operating Expense)

Repeat the call above with the following inputs:
{
    "account_id": <bank account id>,
    "transaction_type": "CP",
    "narration": "Cash Purchase",
    "transaction_date": "2024-01-28",
    "post_transaction": true,
    "line_items": [{
        "account_id": <expense account>,
        "amount": 50,
        "narration": "Cash Purchase Line Item",
        "taxes": [<input tax id>]
      }]
}

Credit Purchase (Asset Purchase)

Repeat the call above with the following inputs:
{
    "account_id": <supplier account>,
    "transaction_type": "BL",
    "narration": "Credit Purchase",
    "transaction_date": "2024-01-28",
    "post_transaction": true,
    "line_items": [{
        "account_id": <asset account id>,
        "amount": 70,
        "narration": "Credit Purchase Line Item",
        "taxes": [<input tax id>]
      }]
}

Client Payment (Receipt)

Repeat the call above with the following inputs:
{
    "account_id": <client account id>,
    "transaction_type": "RC",
    "narration": "Client Receipt",
    "transaction_date": "2024-01-28",
    "post_transaction": true,
    "line_items": [{
        "account_id": <bank account id>,
        "amount": 125,
        "narration": "Client Payment Line Item"
      }]
}

Supplier Payment

Repeat the call above with the following inputs:
{
    "account_id": <supplier account>,
    "transaction_type": "PY",
    "narration": "Supplier Payment",
    "transaction_date": "2024-01-28",
    "post_transaction": true,
    "line_items": [{
        "account_id": <bank account id>,
        "amount": 30,
        "narration": "Supplier Payment Line Item"
      }]
}

Financial Statements

All done! Now for the reward for all the effort, lets get some reports.

Income Statement

curl --location --request GET 'https://api.microbooks.io/books/v1/reports/income-statement?format=text' --header "Authorization: Bearer <bearer_token>"

Balance Sheet

curl --location --request GET 'https://api.microbooks.io/books/v1/reports/balance-sheet?format=text' --header "Authorization: Bearer <bearer_token>"

Cashflow Statement

curl --location --request GET 'https://api.microbooks.io/books/v1/reports/cashflow-statement?format=text' --header "Authorization: Bearer <bearer_token>"

This quickstart only demonstrates a small fraction of the capabilities of the platform. Check out our resources page for more information about how to bring out the full power of microobooks.io

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