Today we are giving you a sneak peek into the Accounting app built on top of Request Network codenamed: Boundless.

Accounting faces problems when it comes to managing cryptocurrency flows:

Spreadsheets are often used to track transactions. This requires manual input which is prone to errors.

Certified Public Accountants (CPA) and accounting experts have no regulatory guidance when it comes to accounting with cryptocurrencies.

Regulators are still deciding on how to integrate tokenized assets into traditional accounting.

The end result is that businesses do not know how to manage their cryptocurrency assets and properly book them into an accounting system.

The solution: Accounting on Request Network

Request provides individuals and businesses with a solution to easily manage their cryptocurrency accounting and taxes. The accounting app’s primary function is two things:

Allow people and companies to send invoices and get paid in cryptocurrency.

Manage the accounting of those transactions.

We allow people and businesses to send dynamic invoices that can be paid with the cryptocurrency of their choice with the click of a button. These invoices include integrated metadata that provides the necessary details for the transaction to be compliant with all existing accounting regulations. This unlocks:

A universal standard for cryptocurrency transactions — transactions are automatically integrated into an accounting system.

— transactions are automatically integrated into an accounting system. An immutable record — the record of transactions are stored on the blockchain, creating a tamper proof and permanent record.

These benefits create an integrated system where invoices and payments are automatically recorded, and entered into an accounting system. With this system, the payment is linked to the invoice.

This has multiple benefits:

No more manual data entry: In the current system, when an invoice is sent it requires two actions: the filing of the invoice, and then later , the actual payment. With an accounting system built on Request Network, the payment is automatically detected and embedded in the invoice. This allows payment to be done natively from within the app.

In the current system, when an invoice is sent it requires two actions: the filing of the invoice, and then , the actual payment. With an accounting system built on Request Network, the payment is automatically detected and embedded in the invoice. This allows payment to be done natively from within the app. This payment processes immediately, providing instant proof of the transaction being completed. This enables real-time accounting .

. This payment history allows for a reputation system of good and bad payers using the most up to date data.

So… What does it look like?