Which accounting systems does Halfkit support?
QuickBooks Online, Xero, Zoho Books and TallyPrime. QuickBooks, Xero and Zoho connect over OAuth: Zoho organisations work in any Zoho data centre, and one Xero sign-in can connect several organisations. Tally connects through a small sync agent. You can mix all four in one group.
How do intercompany eliminations work?
Inside a group, you choose which accounts are intercompany: for example a receivable from a subsidiary and the matching payable. Halfkit removes them from consolidated reports and shows the adjustment in an eliminations column. Eliminating a parent account covers its sub-accounts. If the two sides don't match, the report warns you it's out of balance. Halfkit also suggests likely pairs, such as due from and due to, intercompany sales and charges, or ledgers named after the other company, and eliminates both sides in one click.
How are foreign currencies translated?
Halfkit fetches European Central Bank reference rates every day and stores them as monthly averages for INR, USD, GBP, EUR, SGD and CAD. One monthly rate per currency is used for both statements: the P&L is converted month by month, and the balance sheet at the reporting month's rate. If you set an equity date for a company, its capital and reserves are translated at that month's rate instead. The difference is shown as a Currency Translation Adjustment so the consolidated balance sheet still balances. Any rate you enter yourself always takes priority over the ECB rate.
Can Halfkit handle subsidiaries we don't fully own?
Yes. Set the ownership percentage for each subsidiary. The group is still consolidated in full, as under IFRS 10, so revenue, expenses, assets and liabilities appear at 100%. The consolidated P&L then splits net income into the part attributable to owners of the parent and the part attributable to non-controlling interests, and the balance sheet shows a non-controlling interests line in equity.
Does Halfkit change anything in my books?
No. Halfkit reads reports from QuickBooks Online, Xero and Zoho Books, and receives balances from the Tally agent. It doesn't create or edit transactions.
How does the Tally connection work?
TallyPrime is desktop software, so you run the Halfkit sync agent on the PC where Tally is installed. It's a Windows .exe: run it once with --install and it schedules itself to sync daily, which suits a PC left unattended. If Tally stays open all day on a desk PC, the tray app (halfkit_tally_tray.exe) is the alternative: it starts at logon without admin rights, syncs daily while running, shows the last sync and its result, and has Sync now, Open Halfkit and the log in its menu. The tray app keeps its sync token encrypted in your Windows profile. Either way, the agent reads Tally's built-in connector on port 9000 and sends month-end ledger balances, plus the bill-wise outstanding for parties you track bill by bill. Halfkit builds the P&L, balance sheet and receivables and payables aging from them. Only group names, ledger names, closing balances and open bills (party, reference, dates, amount) leave the PC; no vouchers.
What's in a board pack?
A PDF for the month just ended: headline KPIs, a watch list, the month against the year to date (revenue, gross profit, operating profit and net income), a six-month trend, financial health ratios, budget vs actual when there's a budget, and the consolidated P&L and balance sheet. A cash page shows opening and closing cash, the change, runway, months of costs covered and six months of balances; the operating, investing and financing breakdown is for QuickBooks companies. The email itself shows revenue and net income for the year to date. AI commentary is optional and uses one credit per pack. You choose the company or group, the currency, the recipients and the day of the month it goes out, and you can preview it or use Send now at any time.
How does the 13-week cash forecast work?
It starts from today's cash and goes week by week. Customers' open invoices come in on their due dates; for QuickBooks, the aging is spread across its buckets, and amounts that are very overdue count at a collection percentage you set. Supplier bills go out on their due dates. You add planned items such as payroll, rent, loan repayments and tax, once, weekly, fortnightly or monthly. The forecast shows closing cash for each week, the lowest point and the first week below a minimum you choose, with the assumptions listed, a chart and an Excel export. For a group, intercompany parties with matching names are left out.
What's a rolling forecast?
A view of any budget where the months so far show actuals and the rest are projected: from the remaining budget, a three-month run rate, or last year plus a growth percentage. You can override any projected month. The full year is compared with the budget and with last year, favourable or unfavourable, with a chart and an Excel export, and you can save the forecast as a new budget version.
What does closing a month do?
Closing a month locks it for the whole workspace. Reports for a closed month are served from the figures stored at close, so they stop changing even if someone edits the ledger later. Every close and reopen is recorded in an audit log, and a closed month can be reopened if it needs to change. Separately, reports are stored every night, and if a connection to an accounting system breaks, Halfkit shows the last saved figures with a note.
Does Halfkit produce Schedule III financial statements?
Yes, for Ind AS companies (Division II): a statutory balance sheet and statement of profit and loss, for one company or the consolidated group. Halfkit suggests the Schedule III line for each account from its account type and name, and you can change any mapping. Statements include previous-period comparatives, can be shown in lakhs or crores, and export to Excel.
We're a CA firm. Can we manage all our clients in one place?
Yes. Firm mode gives you one login for many client workspaces and lets you switch between them. The firm dashboard lists each client's companies, subscription status, renewal dates and last Tally sync, and you can add firm members. There's a billing summary across all clients, but payment is still per company.
How safe are share links?
A share link shows a read-only Overview, P&L and balance sheet for one company or group, and nothing else. You choose a fixed period or let the viewer pick one, and you can set an expiry. You can see how many times a link has been viewed and revoke it at any time. Shared pages are marked so search engines don't index them. Anyone with the link can open it without logging in, so send it only to the people it's meant for.
What happens when the trial ends?
Each company you connect gets 14 days free. To keep reporting on it after that, choose the monthly or annual plan for that company.
Can I pay in rupees?
Yes. Pay in USD by card through Stripe, $7 a month or $77 a year per company, or in INR through Razorpay, ₹599 a month or ₹6,499 a year per company.
Can my team use it?
Yes. Plans include unlimited users. Invite colleagues to your workspace; admins can add, edit and remove users.
How do AI summaries work?
From a P&L, balance sheet or cash flow report, request a summary and Halfkit writes a plain-language overview. Each summary uses credits, which you buy in small packs. The P&L summary is also emailed to you as a PDF, and board packs can include a short AI commentary.
Is cash flow available for Zoho Books, Xero or Tally companies?
Not yet. The cash flow statement is currently available for QuickBooks Online companies only. Profit & loss, balance sheet and aging work for all four systems; for Tally, aging covers parties tracked bill by bill.