Books & Financial Reports
Books & Financial Reports extends Iraca's built-in journal with tools for month-end close, financial reporting, and export to your accounting software. It is included in the Standard plan and above (it used to be sold as the Accounting & Close add-on). Workspaces still on an older Sprout, Grove or Canopy plan keep it as the add-on they bought.
Your books record on every plan, Free included: each sale, receipt and payment posts to the ledger as it happens. On Free you can't open them — the journal, trial balance, statements, close tools and exports are Standard features — but nothing is lost. Upgrade and everything recorded since the start is there. And if you ever leave, you keep a read-only copy of what you paid for and one closing export (both described below).
What's included
| Feature | Free | After you leave Standard | Standard and above |
|---|---|---|---|
| Entries recorded as you work | ✅ | ✅ | ✅ |
| Journal entry list | — | Read-only, through your last paid day | ✅ |
| Trial balance (activity or as-of balance) | — | Read-only, through your last paid day | ✅ |
| Profit & Loss and Balance Sheet | — | Read-only, through your last paid day | ✅ |
| Manual journal entries | — | — | ✅ |
| Void entries | — | — | ✅ |
| Period locks (month-end close) | — | — | ✅ |
| Chart of account mappings | — | — | ✅ |
| QuickBooks / Xero CSV export | — | — | ✅ |
| One closing export of your books | — | ✅ (for 90 days) | — |
Getting it
On the Standard plan there's nothing to activate — the tools are already in Reports and Settings → Chart of Accounts, and the Billing page lists Books & Financial Reports under Included in your plan. On Free, upgrade from Billing: the plan card for Standard is at the top of the page.
What you see on Free
Open Reports on the Free plan and, where the books would be, you'll see how much is waiting for you: "Your books are ready: 214 entries since Mar 2, 2026. Upgrade to Standard to view and export them." Iraca never shows balances to a workspace without the plan, only that the books exist and that they balance. Upgrade from Billing and the whole history opens at once.
After you leave Standard: read-only access
If you move from Standard to Free (or your Standard subscription ends), you keep read-only access to the periods you paid for. A banner on Reports says "You're viewing your books through Jun 30, 2026." (your last paid day, shown as a date).
- You can view the journal, the trial balance, the Profit & Loss and the Balance Sheet.
- Anything dated after your last paid day is hidden, even if you ask for a later date: reports stop at that day.
- You can't post or void entries, lock periods, change your chart of accounts or export to QuickBooks or Xero. Those need the Standard plan.
- Iraca keeps recording new entries in the background, so if you come back to Standard they're all there. If you leave again later, your read-only date moves forward to your new last paid day; it never moves back.
The closing export: one last copy of your books
When you leave Standard, you get one closing export of your books, available for 90 days. Go to Settings → Download your books. The card only shows while the export is still available.
The download is a ZIP with:
- the journal in QuickBooks format, and in Xero format too when every account has a number in your chart of accounts;
- your trial balance as of your last paid day;
- a Profit & Loss and a Balance Sheet for each calendar year.
A few things to know:
- You can download it once. If you try again, Iraca tells you it's already been downloaded.
- It's a backup, not a hand-off to your accounting program. It doesn't mark your entries as exported, so if you return to Standard later, your next real export still includes them and won't warn about sending them twice.
- It covers the periods you paid for, up to your last paid day.
- It's separate from Export your records, which gives you your orders, invoices and bills on any plan.
What each feature does
Manual journal entries — post a balanced entry for any purpose: opening balances when you first set up Iraca, reclassifications, write-offs, or any adjustment not tied to an inventory or sales event. See Journal Entries.
Void — cancel a posted entry without deleting it. Voided entries stay visible in the journal with a strikethrough for the audit trail but are excluded from the trial balance. See Journal Entries.
Trial balance — a period-bound summary of every account's net debit or credit balance, grouped by Assets, Liabilities, Equity, Revenue, and Expenses. Confirms your books are in balance before close. See Trial Balance.
Period locks — close a calendar month so no new journal entries can be posted to it. Protects finalized periods from accidental backdating. See Period Locks.
Close the month guide — a five-step checklist (loose ends, check, review, export, lock) that runs the month-end routine in order. See Closing the Month.
Chart of account mappings — map Iraca's nine built-in account types to the names and numbers your accounting software uses (QuickBooks, Wave, Xero). The export uses these names so the CSV imports cleanly. See Chart of Accounts.
QuickBooks / Xero CSV export — download a date-range export of all posted journal entries, formatted for import into QuickBooks Online, Wave, or Xero. Available from Settings → Chart of Accounts.
Setting product costs after marketplace import
When Iraca auto-creates a product from a marketplace order, it does not populate a unit cost — the item's selling price is not the same as what it costs to produce or procure. Go to Inventory → Products, open each imported product, and enter the correct Unit Cost. Once set, all future journal entries for that product (COGS, inventory valuation) will use the correct cost.