Onchain Financial Statements

Onchain Financial Statements

Project Description

Create accounting system using Solana programs that frontload accounting logic and populate financial statements at the time a transaction occurs. This increases the accuracy of financial reporting while reducing cost by reducing human error and labor while providing alternative to the just "trust us" audits by accounting firms. Ideally, to provide free open source accounting system to business of any size for accurate record keeping. Refer to video demo as basic proof of concept. All accounts and line items are on-chain, and transactions increment the respective accounts when transaction is approved. (only have the demo ready as proof of concept, no testing instruction because the account names were hardcoded to display the tables on the react frontend, and the accounts to increment were also hardcoded) Hopefully it conveys the general idea!

Additional Information

Thanks for taking a look! Would appreciate any feedback you can provide. Privacy of transaction data (possibly through zero-knowledge proofs) would likely be needed for business use. Additionally, it would require the Solana network to have visibility to all transactions. At the moment it is just a proof of concept!

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