The first step to submitting your user’s transactions is to map their real-world financial accounts, such as their bank account, to a corresponding ledger in their chart of accounts. The process works a bit differently depending on the end user’s accounting package.

1

Create a financial account ledger

Real-world financial accounts are represented by financial account ledgers. You create these ledgers like any ledger by using the Create Ledger endpoint.

Financial account ledgers must have a financial_account_type. By selecting the financial account type, we set smart defaults to ensure that the accounting treatment is accurate. For example, setting financial_account_type to bank automatically sets type to asset, debit_credit to debit, and report_cash_flow to true.

Each real-world financial acount should have its own individual ledger. You can see the complete list of supported financial account types here.

2

Map the ledger

Once you have created a financial account ledger, you must store the association between the ledger_id of the financial account ledger and the real-world financial account it represents.

We call this mapping, and you will use this mapping for various use cases such as submitting transactions.

3

Set the opening balance

It is important that the balance of the financial account ledger matches that of the real-world financial account on your user’s start date, or else their accounting will be inaccurate.

If the real-world financial account was opened before your user’s start date, an opening balance must be set via the Opening Balance endpoint.

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