Accounting software development

Custom accounting software for finance teams and accounting firms whose transaction volumes, entity structures, or reporting requirements have outgrown QuickBooks, Xero, or Sage. Also for SaaS companies building financial management into their product.

  • General ledger with multi-entity, multi-currency, and consolidation support

  • Automated bank reconciliation and transaction categorisation

  • Accounts payable and receivable with approval workflows and ageing reports

  • Financial reporting, P&L, balance sheet, cash flow, in the format your stakeholders require

Recognition

Sound familiar?

  • Finance team spending days each month on manual journal entries, bank reconciliation, and inter-company eliminations that could be automated if the system understood your entity structure?

  • Reporting that requires exporting to Excel because the accounting platform can't produce the management accounts format your board actually uses?

In short

RaftLabs builds custom accounting software for accounting firms, finance teams, and SaaS companies embedding finance into their product. We deliver cloud accounting platforms with multi-entity consolidation, bookkeeping automation that handles 70 to 85 percent of transactions without human input, AR/AP management with approval workflows, financial reporting, and practice management for accounting firms. Most projects deliver in 10 to 16 weeks at a fixed cost with full source code ownership, typically $45,000 to $180,000 depending on scope.

When standard accounting platforms stop fitting the business

QuickBooks, Xero, and Sage handle single-entity bookkeeping well. The ceiling appears when the business structure grows beyond what the platform was designed for: multiple legal entities with inter-company transactions to eliminate, a reporting format the platform's fixed templates can't produce, a transaction volume that makes manual reconciliation unsustainable, or a sector-specific chart of accounts requirement the platform can't accommodate.

Custom accounting software is also the right choice when you're building financial functionality into a product. A SaaS platform that needs embedded billing, a marketplace that needs automated payouts and fee calculations, or a vertical software product whose customers need accounting features without leaving your application.

01 Diagnosis

Problems we solve in accounting

  1. 01
    Problem

    Your month-end close takes two weeks

    Solution

    When your finance team reconciles transactions between five or more entities by pulling reports, cross-referencing them in a spreadsheet, and posting manual elimination journals, the close cycle stretches into the second week of every month. According to Ventana Research's 2023 Smart Financial Close benchmark, 58% of organisations still take six or more business days to complete their monthly close, unchanged from the 2019 baseline despite years of automation tooling being available. Every period adds risk as headcount and entity count grow. A consolidation engine built to your actual ownership structure brings that process down to hours. Eliminations post automatically, and a clean consolidated P&L is ready when the period closes.

  2. 02
    Problem

    Your board pack requires three days of Excel assembly

    Solution

    When the management accounts your board uses look nothing like the output your accounting platform produces, the finance team rebuilds the report from scratch each period. The platform exports raw data; the Excel model applies the format, the prior-year comparatives, and the KPI overlays. A reporting layer built to your exact board pack format produces the output directly from the ledger. No manual assembly, and no version risk from a spreadsheet twenty people have touched.

  3. 03
    Problem

    Your AP process runs through email threads with no audit trail

    Solution

    When supplier invoices arrive by email, get forwarded for approval, and are paid manually from a bank portal, there's no single record of what was approved, by whom, and when. Duplicate invoices slip through. Invoices above the approval threshold get paid without a second sign-off. A structured AP workflow with three-way matching, approval routing by value and cost centre, and a full audit trail replaces the email thread with a system of record.

  4. 04
    Problem

    Your bookkeeping team categorises transactions manually

    Solution

    When bank transactions land in the system and someone has to decide which account each one belongs to, the bookkeeping team's time is consumed by categorisation rather than analysis. For a business with 500 or more transactions per month, that's a full-time task. A categorisation engine trained on your historical transaction patterns and configured to your chart of accounts handles 70 to 85 percent of transactions without human input. The team reviews exceptions rather than processing the full volume.

02 What we ship

Accounting software we ship

  1. Cloud accounting platform

    General ledger with full double-entry bookkeeping, multi-currency support, and a configurable chart of accounts built to your business structure. Multi-entity management with inter-company transaction recording and consolidation eliminations. Journal entry workflow with approval routing and audit trail. Period close management covering prepayments, accruals, and depreciation schedules. The accounting core that handles entity complexity your current platform can't model without manual workarounds.

  2. Bookkeeping automation

    Bank feed integration pulls transactions from your accounts automatically, with categorisation using rules matched against your chart of accounts. Duplicate detection and anomaly flagging for transactions that fall outside normal patterns. Recurring transaction templates for regular payments and receipts. Expense management with receipt capture, category coding, and approval workflow. The automation layer that cuts the manual data entry consuming your bookkeeping team's time.

  3. Accounts payable and receivable

    AP management covering supplier invoice capture via email or upload, three-way matching against purchase orders and receipts, approval workflow by value and cost centre, and payment run generation for bank upload. AR management covering invoice generation from sales orders, automated payment reminders, cash allocation against invoices, and credit control workflow for overdue accounts. Supplier and customer portals for self-service invoice submission and payment. The AP/AR workflow that reduces processing time and clears the overdue invoice backlog.

  4. Financial reporting and consolidation

    Management accounts in the format your board and investors use: P&L by entity and consolidated, balance sheet, cash flow statement, and KPI dashboard. Budget vs actual variance reporting with drill-down to transaction level. Consolidation engine eliminating inter-company balances and transactions across your legal entity structure. Regulatory reporting in the format required by your jurisdiction: statutory accounts, VAT returns, corporation tax working papers. Report scheduling with automatic distribution to stakeholders by email.

  5. Accounting practice management

    For accounting firms: client management covering all entities and contacts per client, engagement tracking from proposal through delivery, time recording against client matters, and fee billing with WIP management. Workflow management assigns recurring compliance tasks (tax returns, VAT filings, accounts preparation) to staff with due date tracking and client document request management. Client portal for secure document exchange, approval sign-off, and deadline communication. The practice management system that runs the firm's workflow without relying on spreadsheets and email chains.

  6. Embedded accounting for SaaS

    Accounting and billing features embedded directly in your product: subscription billing with proration, usage-based charges, and invoice generation; revenue recognition in line with ASC 606 or IFRS 15 for SaaS metrics; automated payout calculations for marketplace operators; and ledger APIs that give your product financial data without requiring a separate accounting integration. The embedded finance layer that makes your platform stickier and removes the need for your customers to manage a separate accounting tool for the activity your product generates.

03 How we work

How we build accounting software

  1. 01

    Discovery

    We map your chart of accounts, entity structure, consolidation requirements, and reporting format before any code is written. For firms, we document the engagement workflow, time recording model, and billing logic: the business rules that make your financial system different from a generic ledger.

  2. 02

    Architecture

    We design the data model around your specific accounting structure: double-entry ledger schema, inter-company elimination logic, multi-currency handling, and the reporting data layer. Integration points with banks, ERPs, and payroll systems are scoped and confirmed before development begins.

  3. 03

    Build

    Two-week sprints with working software at each checkpoint. The core ledger and transaction engine ships first, followed by AP/AR workflows, reporting, and integrations. You review real functionality, not wireframes, at each sprint review.

  4. 04

    Launch and support

    We run in parallel with your existing system through the first close cycle so any discrepancy is caught before full cutover. Post-launch support covers period-close issues, new entity additions, and reporting changes as the business evolves.

Companies we've built for

Vodafone
Nike
Microsoft
Cisco
T-Mobile
Aldi
Heineken
GE

04 Track record

What we've shipped in accounting

Products shipped
100+
Industries served
24+
Cost delivery
Fixed
Week delivery cycles
10-16

05 Case studies

Case studies

06 Client voices

What our clients say

Three-year average engagement. Founders and operators describing the work in their own words. No marketing varnish.

Charles E.
Charles E.
USA flagUSA
Entrepreneur at Aggie Technologies

All of the sprints were completed on schedule and on budget. We highly recommend RaftLabs!

01 / 02

07 Why us

Why choose us?

  1. 01

    Only what you need

    Every feature ties to a specific business goal. You get what you need to launch. Not a bloated spec that takes twice as long and ships half-baked.

  2. 02

    We show up

    Production fire at 11pm? We're there. We take ownership, fix fast, and keep your business running when it matters. No hiding behind tickets.

  3. 03

    Expert, not yes-men

    If the idea won't work, we say so before a line of code is written. Honest advice saves you more than a team that nods along.

08 Questions

Frequently asked questions

Standard platforms cover single-entity bookkeeping and basic reporting well. Custom makes sense when you have multiple legal entities requiring consolidation, a chart of accounts or reporting format the platform can't produce, a transaction volume where manual reconciliation is unsustainable, or sector-specific compliance requirements. It's also the right path when you're building financial features into a product rather than managing the finances of a single business. We'll tell you honestly if a configured standard platform would cover your requirement.

Yes. Accounting systems typically need to exchange data with sales platforms (revenue recognition from CRM deals), procurement systems (AP matching against purchase orders), and payroll systems (salary journals). We scope the integration during discovery, confirming the API access each system provides and the data flows required. Common integrations include Salesforce, HubSpot, SAP, NetSuite, and custom internal systems.

Multi-currency support covers transaction recording in any currency, exchange rate management (spot and average rates), unrealised and realised gain/loss calculation, and reporting in your functional and presentation currency. Consolidation covers inter-company elimination of transactions and balances, minority interest calculations, and the production of consolidated financial statements. The complexity of the consolidation, including the number of entities, ownership structures, and reporting currencies, determines the development scope we assess during discovery.

A cloud accounting platform covering the general ledger, bank reconciliation, AP/AR, and financial reporting typically runs $45,000 to $90,000. A more complete system with multi-entity consolidation, practice management, or embedded accounting features for a SaaS product typically runs $90,000 to $180,000. Fixed cost is agreed before development starts.

The core requirement is a double-entry ledger with enforced debit/credit integrity. On top of that: multi-entity consolidation logic, AP/AR workflow engines, automated bank reconciliation using transaction pattern matching, and a reporting layer that produces output in your specific format. Integration with banks, ERPs, and payroll systems adds complexity we scope during discovery. The failure mode in accounting software is almost always integration gaps, not missing features.

Accounting software by product

Related services

  • Business Process Automation, Automate invoice processing, payment matching, bank reconciliation, and month-end close workflows
  • AI Document Intelligence, Extract structured data from invoices, purchase orders, receipts, and financial statements
  • AI Agent Development, Autonomous agents for anomaly detection, expense categorisation, and regulatory compliance monitoring
  • Custom Software Development, Custom accounting platforms, consolidation tools, and practice management systems built for your entity structure and reporting requirements

Talk to us about your accounting software project.

Tell us your entity structure, your current platform's limitations, and what your finance team needs the system to do. We'll scope the right system and give you a fixed cost.

  • Scope and cost agreed before work starts. No surprises. No obligation.
  • Working prototype within 3 weeks of kickoff.
  • Pay by milestone. You see progress before each invoice.
  • 60-day post-launch warranty. Bug fixes, UI tweaks, and deployment support. No retainer.
  • All conversations are NDA-protected.