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. This section outlines how the process works for
Create a financial account ledger
Real-world financial accounts are represented by financial account ledgers. You create these ledgers in the same way you create 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
bank automatically sets
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.
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 inacurate.