---
title: Ledger Accounts
slug: ledger-accounts
docTags: 
createdAt: 2024-07-24T00:47:33.044Z
---

For use cases where segregating funds and reporting or keeping a running account balance is required, ledger accounts are available. These virtual ledgers can be creating under a virtual account number, extending its functionality. 

Funds can be paid out from the ledger directly. As each ledger maintains its own balance, this allows you to use the ledger as a separate pool of funds, so only the amount paid into the account is able to be paid out. 

| **Feature**                            | **Virtual Account Numbers**        | **Ledger Accounts**                |
| -------------------------------------- | ---------------------------------- | ---------------------------------- |
| BSB and Account Number                 | <font color="#6639B7">**✔**</font> | <font color="#6639B7">**✔**</font> |
| PayID available                        | <font color="#6639B7">**✔**</font> | <font color="#6639B7">**✔**</font> |
| Funds segregation from mAccount        | ❌                                  | <font color="#6639B7">**✔**</font> |
| Consolidated transaction history       | ❌                                  | <font color="#6639B7">**✔**</font> |
| Current balance                        | ❌                                  | <font color="#6639B7">**✔**</font> |
| Account statement with running balance | ❌                                  | <font color="#6639B7">**✔**</font> |
| BPAY                                   | ❌                                  | <font color="#6639B7">**✔**</font> |

The following payment types settle directly into ledger accounts via the BSB and account number:

- NPP transactions, including PayTo
- Direct Credit
- RTGS and IMT
- Payments from your mAccount or other ledger accounts

The following payment types can be paid directly from a ledger account:

- NPP payments to a bank account or PayID
- Direct credit payments to a bank account
- BPAY, using a biller code and CRN
- External direct debits; where funds are debited from your ledger account by a third party
- Payments to your mAccount or another ledger account

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## Creating a Ledger Account

:::hint{type="info"}
Ledger accounts are not enabled by default in Sandbox. Please contact Monoova to enable this feature on your sandbox account.
:::

Ledger accounts are created using the [Create Ledger Account](docId\:K4p-xliiHGLlPnA3jHK8S) endpoint and can be linked to an existing virtual account number, or a new account number can be provisioned as part of the creation process.&#x20;

Only one virtual account number may be linked to a ledger at any time, and the virtual account number must remain active while the ledger is active.&#x20;

After creating a ledger account you can create a PayID linked to the attached virtual account number. If you are using an existing virtual account number any pre-existing PayID associated with the account will remain attached and can be used to pay into the ledger account.

Ledger accounts are queried using the `ledgerUniqueReference` you supply during the creation process, and the `ledgerAccountNumber` we provide in the response. These IDs are used when retrieving reports and when closing a ledger account.&#x20;

## Closing a Ledger Account

Ledger accounts can be closed with the [Close Ledger Account](docId:2pcOdDgRmSbWTOfbolA46) endpoint. Before closing a ledger account the balance must be $0.00.&#x20;

You can choose whether to deactivate the attached virtual account number and PayID at the same time the ledger account is closed by setting `forcedClose` to true. This parameter is false by default.&#x20;
If the attached virtual account number remains active you can choose to attach it to a new ledger account.

## Balance and Financial Reporting

Each ledger keeps a record of receivables and payables made within the ledger allowing you to request a segregated report showing all transactions with a running balance, and the current balance of the ledger.&#x20;

To query the ledger balance, call the [Retrieve Current Ledger Balance](docId\:I724r1GdAjBvtJcJJNQY6) endpoint. This is a lightweight endpoint that returns the balance at the time we receive the request, along with information about the ledger and its status.&#x20;

For detailed reporting, call the [Retrieve Transactions for a Ledger](docId\:jQfpSvDzeeRv6odX_AMdX) endpoint. This returns a paginated list of transactions in or out of the ledger, including the datetime, amount, rolling balance, and payer or payee information. This endpoint can be used in place of other receivables reporting endpoints if you primarily rely on the ledger account.

The [Retrieve Financial Details of a Ledger](docId\:QWVGlAb5s4jW9HigDMBOq) endpoint returns the available balance, transaction limits, last transaction date and attached virtual account number details for a ledger account. Each ledger account has its own transaction limits, so this endpoint is helpful when identify if you're close to reaching the available limit.

## Transferring Funds Between Accounts

Funds can be transferred between mAccounts and Ledger accounts using the [Execute a Transaction](docId\:NMknOvkiPahGVaeV5znxp) endpoint. It may be necessary to transfer between mAccounts or ledger accounts in instances where funds cannot settle to the ledger account directly, such as BPAY or card payments.