FAQ
Q: Is the ledger the source of truth for customer balances?
A: Yes. Every wallet balance, every position, every fee — all derived from the balanced double-entry postings.
Q: Does the ledger move money?
A: No. Brokers hold the real money; the ledger reads their statements and mirrors what happened. It never initiates a transfer or places an order.
Q: How do we know the ledger is correct?
A: A background scheduler runs integrity checks continuously — trial balance, per-customer wallet derivation, cash-at-broker recon, share-count recon, LRS↔ViewTrade tie-out — and raises when anything drifts. See Reconciliation.
Q: Why two books instead of one?
A: Different regulators, different custodians, different tax regimes, different blast radius. One codebase runs against both. See Two books, one engine.
Q: Why does the India book NOT hold INR?
A: The India entity is IFSCA-regulated and lives on the USD side. GlomoPay converts INR to USD before the deposit lands. The INR side is captured on the compliance audit rows (for LRS + TCS reporting), not on the trial balance.
Q: What is the FX spread?
A: The margin Valura earns on the INR-to-USD conversion. It's the biggest India revenue line. See FX-spread model.
Q: Can a customer have shares at ViewTrade the ledger doesn't know about?
A: Only if their opening trade predates our ingest (ingest is forward-only —
ViewTrade doesn't have a historical-orders endpoint). The Share-count
recon flags these as viewtrade_only.
Q: What happens if a GlomoPay order fails after we accrued the FX spread?
A: The refund-reversal sweep catches it and posts a reversing entry. Idempotent.
Q: Why does the LRS ↔ ViewTrade recon show unmatched fundings?
A: Some ViewTrade wires come from customers who wire directly, not through LRS. Those are informational — not errors. See LRS ↔ ViewTrade tie-out.
Q: How is capital gains computed?
A: FIFO — first buy in, first sell out. Per (customer, instrument). See Capital gains.
Q: Where does the ledger get dividend data?
A: From ViewTrade's Daily Ledger CSV report. Each dividend has a paired withholding row for the 25% NRA rate. See Dividends.
Q: Can the ledger fail without me knowing?
A: The Category-A trial-balance check runs every hour. If it fails, the alert webhook fires (if configured). Otherwise the reconciliation page shows the failure in the UI. The system is designed to fail loudly, not silently.
Q: How do I read the tax reports?
A: Each report has a per-customer view (drill into one) and a firm rollup (overall totals). The customer view is what the customer sees on their statement. See the tax section.
Q: What are the deferred items?
A: See the Deferred items page. Most are upstream- blocked (waiting on ViewTrade or GlomoPay) or cross-team (waiting on api-global). The ledger side of every M5 use case is shipped.