India chart of accounts (19)
USD-only. Seeded from db/seeds/accounts.india.json. Deliberately excludes AED
accounts, Aldar/GTN payables, VAT (India uses TCS via the GlomoPay quote), Gold,
and private markets.
Assets
| Code | Name | Purpose |
|---|---|---|
| 1010 | Bank Operating - USD | Valura's own USD bank (op cash + FX-spread settlement drain) |
| 1100 | Omnibus Cash @ ViewTrade (USD) | Pooled customer USD cash at ViewTrade IFSC |
| 1200 | Omnibus Custody @ ViewTrade | Pooled US-equity custody at ViewTrade |
| 1300 | GlomoPay FX Receivable | FX-spread accrual pre-settlement (India-new) |
| 1500 | Cash in Transit (LRS Remittance) | In-flight deposits (optional GL lifecycle) |
Liabilities
| Code | Name | Purpose |
|---|---|---|
| 2010 | Customer Cash Wallet - USD | Per-customer USD wallet |
| 2100 | Customer Sec Liab - Equity | Customer's equity holdings claim |
| 2110 | Customer Sec Liab - Bonds | (dormant for now) |
| 2200 | Withholding Tax Payable (US Dividend) | 25% NRA WHT on US dividends |
| 2220 | Regulatory Fee Payable (SEC/TAF) | SEC / TAF on US trades |
| 2330 | Valura Payable | Valura's residual margin |
| 2340 | ViewTrade Payable | ViewTrade's brokerage cost (India-new) |
Income
| Code | Name |
|---|---|
| 4000 | Brokerage Revenue |
| 4020 | Custody Fee Revenue |
| 4030 | FX Spread Revenue (India-new — Valura's main India margin) |
Expense
| Code | Name |
|---|---|
| 5000 | Brokerage Cost |
| 5020 | Regulatory Fee Cost (SEC/TAF) |
| 5030 | Custody Cost |
| 5099 | Valura Earnings Share |
Bold codes / names are India-specific additions beyond the UAE CoA vocabulary.
Why USD-only
The India entity doesn't hold INR. GlomoPay converts INR at the customer's
rate and delivers USD to ViewTrade. The customer's INR journey is captured on
lrs_remittances (audit table), not in the trial balance.
Why a separate FX-spread receivable account
The FX-spread is EARNED at order-paid time but SETTLED at batch time. The accrual → settlement lifecycle needs a receivable in between:
On GlomoPay order paid → post fx_spread:
DR 1300 GlomoPay FX Receivable $x
CR 4030 FX Spread Revenue $x
On GlomoPay settlement batch → post fx_spread_settle:
DR 1010 Bank Operating - USD $x
CR 1300 GlomoPay FX Receivable $x
1300 = the sum of unpaid FX-spread revenue we're owed by GlomoPay.
Why a separate ViewTrade payable
Same reason as 2310 GTN Payable on the UAE book — the recost splits the
customer's brokerage charge (22 bps) into the broker's cost (4 bps → 2340)
and Valura's residual (18 bps → 2330).
See India postings for worked examples.