Question 1

What is Beancount and how does BeanFlow use it?

Accepted Answer

Beancount is a powerful open-source double-entry bookkeeping system that stores your financial data in plain text files. BeanFlow provides a modern web interface on top of Beancount, adding AI-powered features like natural language transaction entry, document recognition, and intelligent reporting while keeping your data in the portable Beancount format.

Question 2

Do I need accounting experience to use BeanFlow?

Accepted Answer

No! BeanFlow is designed for both beginners and experienced accountants. The AI assistant helps you enter transactions in natural language, and the system automatically converts them to proper accounting entries. However, understanding basic concepts like the 5 account types (Assets, Liabilities, Equity, Income, Expenses) will help you get the most out of the system.

Question 3

How do I import my existing financial data?

Accepted Answer

BeanFlow supports importing from bank statements (CSV, OFX), existing Beancount files, and other accounting software exports. Use the Import feature in Settings to upload your files. The AI will help categorize transactions automatically based on patterns it learns from your data.

Question 4

What are the 5 main account types?

Accepted Answer

The five fundamental account types are: Assets (what you own - bank accounts, investments), Liabilities (what you owe - loans, credit cards), Equity (owner's stake - capital, retained earnings), Income (money coming in - sales, interest), and Expenses (money going out - rent, supplies). Every account must start with one of these types.

Question 5

How should I structure my account names?

Accepted Answer

Use a hierarchical structure with colons as separators. For example: Assets:Current:Cash:BMO:Checking. The first three levels typically follow Canadian accounting standards (CRA/IFRS), and you customize from level 4 onwards. Use PascalCase (CapitalizedWords), no spaces, and be descriptive.

Question 6

What Canadian tax accounts should I set up?

Accepted Answer

For Canadian businesses, you should have: Liabilities:Taxes:GST-HST-Payable (sales tax collected), Assets:Current:TaxReceivable:GST-HST (input tax credits), Liabilities:Taxes:PayrollTaxes:CPP (Canada Pension Plan), Liabilities:Taxes:PayrollTaxes:EI (Employment Insurance), and Liabilities:Taxes:PayrollTaxes:IncomeTax (withholding tax).

Question 7

Can I rename or merge accounts later?

Accepted Answer

Yes, but it requires careful planning. You can rename accounts by updating all transactions that reference them. For merging, you would typically close the old account and transfer its balance to the new one. The BeanFlow AI can help you identify all transactions affected by such changes.

Question 8

How does the AI understand my transactions?

Accepted Answer

The AI uses a combination of Memory (remembers your conversation context and preferences), RAG (retrieves relevant accounting knowledge and your ledger context), and Tool Execution (runs queries on your data). When you describe a transaction, it analyzes the text, identifies the accounts involved, and creates proper double-entry bookkeeping entries.

Question 9

What tools can the AI assistant use?

Accepted Answer

The AI has access to 6 core tools: get_accounts (list accounts), query_bql (run BQL queries), get_balance_sheet (generate balance sheet), get_income_statement (generate income statement), get_ledger_info (get ledger statistics), and get_transaction_details (view transaction details). All tools are read-only for security.

Question 10

Is my financial data safe with the AI?

Accepted Answer

Yes. All AI tools are read-only and cannot modify your data. There is a strict tool whitelist preventing unauthorized operations, rate limiting to prevent abuse, and full audit logging of all tool executions. Your data never leaves your account without your explicit permission.

Question 11

What is BQL and how do I use it?

Accepted Answer

BQL (Beancount Query Language) is a SQL-like language for querying your financial data. You can ask the AI questions in natural language like "What did I spend on marketing last quarter?" and it will automatically generate and execute the appropriate BQL query. Advanced users can also write BQL queries directly.

Question 12

What is double-entry bookkeeping?

Accepted Answer

Double-entry bookkeeping means every transaction affects at least two accounts, and the total debits must equal total credits. For example, when you buy supplies with cash: Expenses:Supplies increases (debit) and Assets:Cash decreases (credit). This system ensures your books always balance and provides a complete audit trail.

Question 13

How do I record a simple expense?

Accepted Answer

Just describe it naturally to the AI: "Paid $50 for office supplies from my BMO checking account". The AI will create: a debit to Expenses:Admin:Office:Supplies for $50 and a credit to Assets:Current:Cash:BMO:Checking for $50. You can review and confirm before saving.

Question 14

How do I handle multi-currency transactions?

Accepted Answer

BeanFlow supports multiple currencies. When entering a transaction, specify the currency: "Received $1000 USD payment, converted to CAD at 1.35". The system will track both the original currency and conversion, maintaining proper cost basis for foreign exchange calculations.

Question 15

What reports can BeanFlow generate?

Accepted Answer

BeanFlow generates standard financial reports including: Balance Sheet (assets, liabilities, equity at a point in time), Income Statement (revenue and expenses over a period), Cash Flow Statement (operating, investing, financing activities), Trial Balance, and custom reports using BQL queries.

Question 16

How does cash flow classification work?

Accepted Answer

Transactions are automatically classified based on account patterns: Operating Activities (Income/Expenses and working capital), Investing Activities (Assets:Fixed, Assets:Intangible, Assets:LongTerm), and Financing Activities (Liabilities:LongTerm and Equity accounts). Cash accounts (Assets:Current:Cash) are the resulting cash position.

Question 17

Can I export reports for my accountant?

Accepted Answer

Yes! Reports can be exported in multiple formats: PDF for presentation, CSV/Excel for further analysis, and the raw Beancount format for accountants who use Beancount. You can also share read-only access to specific reports with your accountant directly through BeanFlow.

Question 18

How do I track GST/HST in BeanFlow?

Accepted Answer

When you collect GST/HST on sales, record it to Liabilities:Taxes:GST-HST-Payable. When you pay GST/HST on purchases, record Input Tax Credits (ITCs) to Assets:Current:TaxReceivable:GST-HST. The difference is what you owe or are owed. BeanFlow can generate GST/HST reports for your filing.

Question 19

Does BeanFlow support T2125 expense categories?

Accepted Answer

Yes, our account naming standards align with CRA T2125 (Statement of Business Activities) categories. Expenses are organized to easily map to lines on the T2125 form, making year-end tax preparation straightforward. The AI can help categorize expenses according to CRA guidelines.

Question 20

How do I track payroll deductions (CPP, EI)?

Accepted Answer

Use separate liability accounts: Liabilities:Taxes:PayrollTaxes:CPP for Canada Pension Plan contributions, Liabilities:Taxes:PayrollTaxes:EI for Employment Insurance premiums, and Liabilities:Taxes:PayrollTaxes:IncomeTax for income tax withholding. These accumulate until you remit to CRA, then are cleared.

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