AscendryxProduct · In production
LedgerKit
Accounting and BIR books for lending and financing companies. Your loan system keeps your borrowers; LedgerKit keeps your books. It connects to the loan system you already use, books every release and collection automatically, and prepares the books and tax reports BIR requires.
The problem
Loans in one system, books by hand
Most finance companies run a loan system for borrowers and a separate, mostly manual process for the company's books and BIR. General accounting software does not close that gap, because it was not built for lenders.
Everything typed twice
Releases and collections are re-encoded from the loan system into the books, or summarised in spreadsheets first. Every copy is a chance for the two to disagree.
Lender accounting by spreadsheet
Add-on interest earned month by month, deferred loan fees, gross receipts tax and stamp tax on every loan. General packages leave all of it to your accountant's spreadsheets.
Month-end that never ties
Loans receivable in the books rarely match the loan system on the first try. Finding the difference takes days, every month, and it is what auditors ask about first.
What is inside
The books, the loans and the BIR, in one system
Powerful enough for your accountant, simple enough for your whole team. LedgerKit handles the complex parts automatically; your staff can view, print and upload without accounting training, and your accountant reviews instead of re-typing.
Loan events booked automatically
Releases to dealers or borrowers, collections, penalties, bounced checks, restructures, early payoffs with rebates, repossessions and the sale of repossessed units. Each record carries your loan system's own ID, so nothing is ever posted twice.
Accounting that understands lending
Add-on interest is recorded as unearned at release and earned month by month for each loan. Loan fees are spread over the term under PFRS 9. Insurance, chattel and registration fees collected for others are kept apart from income.
BIR books of accounts
General Journal, General Ledger, Cash Receipts Book, Cash Disbursements Book and a clients' subsidiary ledger. Printed loose-leaf with your company name, TIN and page numbers, or exported for computerised books.
Lender taxes
Gross receipts tax under NIRC Section 122, documentary stamp tax on loans and chattel mortgages, expanded withholding with 2307s and the quarterly alphalist, and quarterly income tax worksheets. Prepared as you go, with a filing calendar on the dashboard.
Loan subledger, reconciled
Every loan with its schedule and every posting against it. Loans, unearned interest and unearned fees are tied to the general ledger every month, to the centavo. Past-due aging and the loan-loss provision come from the same data.
Everyday bookkeeping
Journal entries with balance checks, bills and supplier payments with automatic withholding, bank reconciliation, fixed assets and depreciation, and month-end and year-end close. Closed months are locked.
Financial statements
Trial balance, income statement and balance sheet for any date or period, per branch and consolidated. The owner's dashboard shows cash, loan portfolio, profit and upcoming BIR deadlines.
BIR e-invoicing, ready when you are
The invoice register and BIR EIS data are prepared for every invoice. Transmission is switched on under your own Permit to Issue e-invoices, with LedgerKit on your infrastructure or through an accredited provider.
Connecting your loan system
Whatever your loan system is, we connect it
Your loan system stays exactly as it is. LedgerKit only reads from it and never writes to it. Your field names are mapped once and tested with your real data before anything is booked.
Controls and security
Books that stand up to BIR and your auditor
Anything that cannot be booked, such as an unknown loan number or amounts that do not add up, waits in an exceptions list with the reason. Nothing is guessed, and every figure traces back to the loan it came from.
- Nothing is deleted. Corrections are reversals, and voucher numbers have no gaps.
- Closed months are locked. Nobody can post into a period that has been closed.
- Roles and two-step sign-in. Viewer, bookkeeper, accountant and admin, with an authenticator app.
- Full audit trail. Who did what, when and from where, including failed sign-ins.
- Encrypted and monitored. Encrypted connections and credentials, daily backups, and alerts to our team on any probing.
Choosing software
General accounting software, or accounting built for lenders?
A general package fits if…
you sell goods or services and need inventory, sales orders or a point of sale, lending is a small side activity, and you mainly need invoices and basic BIR filing.
LedgerKit fits if…
you run a lending or financing business with a loan system, you pay gross receipts tax and stamp tax on loans, and you want the books to agree with your loans every month, without spreadsheets.
See your own transactions in it
Explore a demo financing company with ten months of loans, collections and BIR reports, then send us a few sample records from your loan system and we will show them booked. Pricing is based on your number of active borrowers, and every plan includes unlimited branches and staff. We set up all your branches, run a one-month parallel run beside your current books, and help you register the books with BIR.