No, 1Flow.io is not an accounting system. It is meant to serve a different purpose.
While Accounting systems need to follow strict accounting principles, enforce strict rules, and have complete data.
1Flow.io is meant to operate on partial data, but still allows a quick view of the data and a way to manipulate it.
| Feature | Accounting System | 1Flow.io |
|---|---|---|
| Data Source | Manual input by humans | Automatically extracted from documents |
| Source of Truth | Accounts (documents are supporting evidence) | Documents are the ground truth |
| Data Completeness | Complete data required or system blocks | Partial data accepted, still provides useful view |
| Automation | Limited automation | AI-powered automation built in |
| Speed of Data Entry | Slow - manual entry per transaction | Fast - bulk upload and automatic extraction |
| Compliance | Built for GAAP/IFRS compliance | Flexible schema adapts to your structure |
| Output | Financial statements (balance sheets, P&L) | Customizable to your workflow needs |
1Flow.io is ideal when:
1Flow.io can also integrate with your existing accounting system to enhance your workflow.
Use 1Flow.io to upload documents and implement a custom data entry process. Send the extracted data to your accounting system only after documents are fully processed and validated.
Process documents in 1Flow.io alongside your accounting system to get quick insights and manipulate data before committing to your accounting records.
Use 1Flow.io to validate and organize data using AI, automatically reconcile transactions, get a clear view of money flow, identify issues, and generate reports.