This section outlines some of the most important FAQs pertaining to the Ledger module. If you have any other queries, please reach out to us at [email protected].
Ledgers are closed-loop data repository which helps businesses reconcile transactions, balances and movement of transactions across multiple sources. Ledgers are primarily used by a platform for their internal consumption and can be used in conjunction with the Virtual Accounts and Payments module to facilitate better reconciliations.
A lot! The ledger module is designed for internal reconciliation and managing fees, charges, etc. Ledgers are not designed to hold actual funds. Virtual accounts, on the other hand, are a core banking product that sits on top of a bank account and can hold actual funds.
Nothing as such. Decentro offers a versatile closed loop ledger module i,e the platform can choose to create journals and ledgers as per their requirements for any use-case as per their business logic. Decentro, on its own, doesn't create journals for the platform.
Not at all! Decentro's ledger module is flexible and the platform can create ledgers for individuals, self, businesses and any other entity deemed relevant to their use case. The platform has the flexibility to decide the specific use cases of a journal.
Not at all! The ledger module is not actual money movement and hence, Decentro doesn't expect the platform to pass any customer/KYC information. If the platform desires to pass the same for their own internal reconciliation, Decentro supports the same.
Yes! All the capabilities of the ledger module are managed by Decentro at its end. There's no external dependency on any partner like Bank partners for the ledger module.
Totally! Decentro provides capabilities to update the associated journals, ledgers as well as transactions. The ability to update journals, ledgers or transactions at our end is one of the key USP of the ledger module.
Not at all! The ledger module allows the platform the flexibility to pass entries in any currency like fiat (INR, USD, EUR, etc.) or digital currencies or even virtual currencies like cashback, etc.
Not at all! The ledger module is designed to be immutable and Decentro doesn't update anything without the platform's explicit API hit.
Updated about 2 months ago