Chart of accounts
Applications on the Verified Network use a standard chart of accounts for transaction accounting.
Account Holders are users or managers with delegated permissions. Any account holder would transact with another account holder which is its counter party in the transaction.
The following ledger names and groups are for users.
Ledger name
Ledger group
Digital cash transfers
Indirect expenses
Fees
Indirect expenses
Bond issues
Sundry creditors
Bond purchases
Sundry debtors
Security token
Purchase accounts
Digital Cash
Cash-in-hand
Cash
Cash-in-hand
Digital asset
Current assets
Bank
Bank
The following ledger names and groups are for managers.
Ledger name
Ledger group
Digital cash issues
Sales accounts
Bond issues
Sundry creditors
Security token issues
Sales accounts
Fees
Indirect expenses
Digital Cash
Cash-in-hand
Cash
Cash-in-hand
Digital asset
Current assets
Bank
Bank
Transactions need to be posted according to rules of double entry book keeping, with each transaction requiring two entries, one for debit and another for credit.
The following entries are for user transactions.
Transaction
Party
Counter party
Party’s Ledger name (Debit)
Party’s Ledger name (Credit)
Account name
Voucher type
Request issue digital cash
Investor address
Manager address
Cash / Digital asset
Digital cash
Cash issue
Cash
Redeem digital cash
Investor address
Manager address
Digital cash
Cash / Digital asset
Cash redemption
Cash
Borrow money (Issue bond)
Investor address
Manager address
Digital asset
Bond issues
Bond issue
Journal
Sell bond
Investor address (bond issuer)
Bond buyer address
Bond issues
Digital cash
Bond sale
Sale
Buy bond
Investor address (buyer)
Bond seller address
Digital cash
Bond purchases
Bond purchase
Purchase
Sell bond
Investor address (bond reseller)
Bond buyer address
Bond purchases
Digital cash
Bond sale
Sale
Buy other securities
Investor address (buyer)
Seller’s address
Digital cash / Cash
Security token
Securities purchase
Purchase
Sell other securities
Investor address (seller)
Buyer’s address
Security token
Digital cash / Cash
Securities sale
Sale
Peer to peer cash transfer / payment
Investor address (remitter)
Receiver address
Digital cash
Digital cash transfers
Payment remittance
Journal
Peer to peer cash transfer / payment
Investor address (recipient)
Sender address
Digital cash transfers
Digital cash
Payment receipt
Journal
Withdrawing digital cash
Investor address (withdrawer)
Manager address
Digital cash
Bank
Cash withdrawal
Cash
Redeeming bond (by issuer)
Investor address (bond issuer)
Manager address
Digital cash
Bond issues
Bond redemption
Journal
Redeeming bond (by investor)
Investor address (bond purchaser)
Bond seller address
Bond purchases
Digital cash
Bond redemption
Journal
Fees paid to Verified
Investor address
Verified address
Digital cash
Fees
Service fee
Journal
The following entries are for manager transactions.
Transaction
Party
Counter party
Party’s Ledger name (Debit)
Party’s Ledger name (Credit)
Text
Voucher type
Issue digital cash
Manager address
User address (cash requestor)
Digital cash
Cash / Digital asset
Cash issue
Cash
Redeem digital cash
Manager address
User address (cash redeemer)
Cash / Digital asset
Digital cash
Cash redemption
Cash
Borrow money (Issue bond)
Manager address
User address (bond issuer)
Digital asset
Bond issues
Bond issue
Journal
Redeeming bond (by issuer)
Manager address
User address (bond redeemer)
Digital cash
Bond issues
Bond redemption
Journal
Fiat pay in
Manager address
User address (depositor)
Cash
Bank
Cash pay in
Journal
Cash withdrawal
Manager address
User address (withdrawer)
Digital cash
Other security token issues
Cash payout
Cash
Fees paid to Verified
Manager address
Verified address
Digital cash
Fees
Service fee
Journal
Copy link