General Ledger
Learn how to use the General Ledger to organize the flow of funds in your system.
A general ledger is conventionally defined as the accounting record of a company or organization.
The General Ledger is the default ledger created when you install and deploy Blnk in your application. It helps you group and manage all ledger balances owned by your organization. These ledger balances are called “internal balances”.
Why you need a General Ledger
Your ledger is a tool to not only record the transactions happening between user balances in your system, but also for transactions happening between you (the organization) and your users.
For most fintechs, they earn revenue from processing fees, card creation fees, etc. They also have to remit account or BaaS provider fees, or pay out interest and commissions to their users. These transaction activities need to be represented in your ledger.
Since all transactions require a source and destination, organizational balances have to be created in your ledger and grouped for easy navigation and reference.
Need help?
We are very happy to help you make the most of Blnk, regardless of whether it is your first time or you are switching from another tool.
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