Ledger Setup and Configuration APIs
The Ledger Setup and Configuration APIs enable users to create and organize the foundational elements of the ledger system. This includes defining charts of accounts, creating accounts within those charts, and establishing wallets for detailed transaction tracking. These APIs ensure a scalable and organized ledger structure to manage transactions efficiently.
1. Chart Management
Charts of accounts are high-level categories used to group related financial accounts. They act as the primary organizational layer in the ledger. For instance, a business might create separate charts for "Corporate" and "Retail" operations.
Check out the Chart Management APIs here.
2. Account Management
Accounts represent specific financial entities within a chart. For example, an account under the "Corporate" chart might track "Receivables" or "Payables." Each account can have unique identifiers and metadata for classification.
Check out the Account Management APIs here.
3. Wallet Management
Wallets are subdivisions of accounts that handle balances for specific currencies or transaction types. For instance, a "Receivables" account might have wallets for GBP and USD balances. Wallets provide fine-grained control over financial operations.