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Why We Built Ledgers

We recently announced Ledgers, our new product that helps businesses manage their books. Here's the story behind why we built it.

Duncan GrahamHead of Design

If you build products that move and store value—a marketplace, digital wallet, or investment app—then you understand how important it is to be able to have a source of truth for your transactions and balances.

Without such a tool, there are a host of problems that crop up: missing funds, customer support costs, and regulatory and compliance challenges. As time elapses, discrepancies and errors become harder to diagnose and the work to fix them compounds. In the best case scenario, this can mean time wasted, and in the worst case, that money can't be accounted for so it's written off.

The workflows that many companies settle for strain engineering teams and leave finance teams playing catch-up and putting out fires.

The Challenge

At Modern Treasury, our mission is to enable everyone to move money with confidence. We're driven to solve the complex money movement problems businesses face so that companies can focus on their core missions.

As we built our Payments product and received feedback from various companies, we heard stories about the challenges engineering and finance teams faced with tracking transactions and balances in their products.

We knew there had to be a better way: a solution that gave engineering teams an API to build against so finance teams could have a real-time accounting of the most granular transaction data available. We needed it to have built-in immutability and idempotency to ensure pristine data quality—a source of truth that was absolutely trustworthy, real-time, and robust at scale.

We looked at what existed in the market and found no fully-featured option that solved the problems above. ERPs lacked essential functionality due to API limits, and open-source options didn't support data needs like idempotency. Seeing a clear opportunity to solve a painful problem, we jumped into action.

The Solution

The work began as an experiment. Andy Qin, one of our talented engineering managers, designed and released an API for Ledgers. When we started getting inbound interest, I put together some flow diagrams and wireframes for how finance teams might work with the transaction data.

With this combination of an API to solve developer workflows and a UI to empower finance teams, we found a resonance in the market and decided to place a bet on this effort. Today, we have a number of customers from consumer marketplaces to investing platforms using ledgers.

This is an exciting launch for us. While Ledgers is a natural complement to our payments product, it's built as a standalone solution—our second product of many to come. There's no need to use our payments product or rely on a bank connection for functionality. You have all you need here and now.

Try it

To try it yourself, sign up or visit your dashboard. If you want to learn more, reach out to us. The first 20 active ledger accounts are free- afterwords each additional ledger account is $2 per month. We can't wait to see what you build.

If you have feedback or want to chat about how you might model your business in a double-entry ledger system, we're here to help. Send us a note at

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