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India postings — worked examples

Every posting rule wired on the India book, with concrete debit/credit examples. All amounts USD (the India entity is USD-only). (cust-x) means "scoped to that customer".

1. Cash flows​

wire_in — USD $10,000 wire to ViewTrade​

DR 1100 Omnibus Cash @ ViewTrade   $10,000   (cust-x)
CR 2010 Customer Cash Wallet USD   $10,000   (cust-x)

The deposit is posted once — on the ViewTrade side. GlomoPay's paid event contributes only the FX-spread accrual (§ 8) and the compliance audit row on lrs_remittances — never the deposit cash.

wire_out — USD $5,000 withdrawal​

DR 2010 Customer Cash Wallet USD   $5,000    (cust-x)
CR 1100 Omnibus Cash @ ViewTrade   $5,000    (cust-x)

opening_balance — historical seed for an existing customer​

Same shape as wire_in, used when a customer arrives with a pre-existing USD balance:

DR 1100 Omnibus Cash @ ViewTrade   $25,000   (cust-x)
CR 2010 Customer Cash Wallet USD   $25,000   (cust-x)

2. Write-path cash lifecycle (two-step)​

Optional. Wallet reflects a pending balance immediately; the omnibus updates on broker confirmation. On failure, only the in-transit leg is reversed.

deposit_in_transit — $10,000 pending​

DR 1500 Cash in Transit (LRS)      $10,000   (cust-x)
CR 2010 Customer Cash Wallet USD   $10,000   (cust-x)

deposit_settle — same $10,000 confirmed at ViewTrade​

DR 1100 Omnibus Cash @ ViewTrade   $10,000   (cust-x)
CR 1500 Cash in Transit (LRS)      $10,000   (cust-x)

Net of the two = one wire_in.

withdrawal_in_transit — $5,000 pending​

DR 2010 Customer Cash Wallet USD   $5,000    (cust-x)
CR 1500 Cash in Transit (LRS)      $5,000    (cust-x)

withdrawal_settle — same $5,000 confirmed​

DR 1500 Cash in Transit (LRS)      $5,000    (cust-x)
CR 1100 Omnibus Cash @ ViewTrade   $5,000    (cust-x)

3. Security trades​

buy_security — 10 AAPL, all-in $1002.20 (bundled 22-bps brokerage)​

Ingest posts placeholder legs; the recost job replaces the revenue leg with the 22 / 4 / 18 bps split (§ 4).

DR 1200 Omnibus Custody @ ViewTrade      $1000.00  (cust-x)   # principal
DR 2010 Customer Cash Wallet USD         $2.20     (cust-x)   # placeholder brokerage
CR 2100 Customer Sec Liab Equity         $1000.00  (cust-x)
CR 2010 Customer Cash Wallet USD         $1002.20  (cust-x)   # all-in charge
CR 4000 Brokerage Revenue                $2.20     (cust-x)   # placeholder

sell_security — 10 AAPL @ $110 (mirror of buy)​

CR 1200 Omnibus Custody @ ViewTrade      $1000.00  (cust-x)
DR 2010 Customer Cash Wallet USD         $1100.00  (cust-x)   # all-in proceeds
DR 2100 Customer Sec Liab Equity         $1000.00  (cust-x)
CR 2010 Customer Cash Wallet USD         $2.42     (cust-x)   # placeholder brokerage
DR 1100 Omnibus Cash @ ViewTrade         $1100.00  (cust-x)
DR 4000 Brokerage Revenue                $2.42     (cust-x)   # placeholder

Realized gain ($100 in this example) lives in the customer's cash wallet. The Capital Gains sub-ledger computes STCG/LTCG on top of these postings — no new GL lines.

custody_adjustment — India-only true-up to ViewTrade holdings​

When the share-count reconciliation surfaces drift (e.g. ledger has 1.00 shares of CELH but ViewTrade holds 0.93), a custody_adjustment corrects the ledger to match reality — same 4-leg shape as a trade, so the book stays balanced, but capital-gains ignores it (this isn't a real disposal).

Reduce over-booked holding (mirror of a sell):

CR 1200 Omnibus Custody @ ViewTrade      $6.50     (cust-x)   # 0.07 CELH at cost
DR 2010 Customer Cash Wallet USD         $6.50     (cust-x)
DR 2100 Customer Sec Liab Equity         $6.50     (cust-x)
DR 1100 Omnibus Cash @ ViewTrade         $6.50     (cust-x)

Increase under-booked holding (mirror of a buy):

DR 1200 Omnibus Custody @ ViewTrade      $x        (cust-x)
CR 2010 Customer Cash Wallet USD         $x        (cust-x)
CR 2100 Customer Sec Liab Equity         $x        (cust-x)
CR 1100 Omnibus Cash @ ViewTrade         $x        (cust-x)

4. Recost (splits the placeholder revenue)​

Every trade/brokerage/custody-fee posting leaves a placeholder revenue leg that the recost replaces with the actual broker/Valura split.

ViewTrade recost — the $2.20 placeholder above​

(remove placeholder CR 4000 $2.20)
DR 5000 Brokerage Cost                   $0.40     (cust-x)   # ViewTrade's 4 bps
CR 2340 ViewTrade Payable                $0.40     (cust-x)
DR 5099 Valura Earnings Share            $1.80     (cust-x)   # 18-bps residual
CR 2330 Valura Payable                   $1.80     (cust-x)

Cross-check on this drift lives in the Broker-fee recon — modelled cost vs configured expected vs actual from the ViewTrade Daily Ledger.

5. Standalone fees (each with a placeholder recost path)​

brokerage — standalone (rare on India; usually bundled into trades)​

DR 2010 Customer Wallet USD        $2.20     (cust-x)
DR 5000 Brokerage Cost             $2.20     (cust-x)   # placeholder
CR 4000 Brokerage Revenue          $2.20     (cust-x)   # placeholder
CR 1100 Omnibus Cash @ ViewTrade   $2.20     (cust-x)   # placeholder offset

Then recost splits into 2340 + 2330 (§ 4).

trade_fees — same 4-leg shape as brokerage (alternate label)​

Same posting.

custody_fee — recurring custody fee (currently dormant)​

DR 2010 Customer Wallet USD        $10.00    (cust-x)
DR 5030 Custody Cost               $10.00    (cust-x)   # placeholder
CR 4020 Custody Fee Revenue        $10.00    (cust-x)   # placeholder
CR 1100 Omnibus Cash               $10.00    (cust-x)   # placeholder offset

6. Pass-through taxes & fees​

taf_sec_fee — $0.02 US SEC / TAF fee on a trade​

DR 2010 Customer Cash Wallet USD   $0.02     (cust-x)
CR 2220 Regulatory Fee Payable     $0.02     (cust-x)

wht_tax — $2.50 NRA withholding on a $10 US dividend (DTAA-claimable)​

DR 2010 Customer Cash Wallet USD   $2.50     (cust-x)
CR 2200 Withholding Tax Payable    $2.50     (cust-x)

2200 is claimable by the customer as a DTAA foreign-tax-credit on their Indian ITR (Schedule TR). Every event is also recorded in the dividend_events sub-ledger.

vat_tax — not used on India​

India uses TCS collected by the AD bank on the LRS quote (see LRS + TCS), not VAT. The posting rule exists but no India event type maps to it.

7. Income events​

dividend — $10 gross US-equity dividend​

DR 1100 Omnibus Cash @ ViewTrade   $10.00    (cust-x)
CR 2010 Customer Cash Wallet USD   $10.00    (cust-x)

Ingested from the ViewTrade Daily Ledger's DIV row. The paired DIVNRA row fires a separate wht_tax posting (§ 6). Net effect on the customer = +$7.50.

coupon — bond coupon (dormant on India for now)​

Same shape as dividend if it ever fires:

DR 1100 Omnibus Cash @ ViewTrade   $100.00   (cust-x)
CR 2010 Customer Cash Wallet USD   $100.00   (cust-x)

interest — upstream-blocked (no event source from ViewTrade)​

The posting rule exists but the ledger has no upstream feed for interest events on the India book yet. Same 2-leg shape as dividend when wired.

corp_action — bidirectional (follows broker DR/CR)​

Credit direction (money in — e.g. a spinoff cash distribution):

DR 1100 Omnibus Cash @ ViewTrade   $50.00    (cust-x)
CR 2010 Customer Cash Wallet USD   $50.00    (cust-x)

Debit direction (money out — e.g. a fee assessment):

DR 2010 Customer Cash Wallet USD   $50.00    (cust-x)
CR 1100 Omnibus Cash @ ViewTrade   $50.00    (cust-x)

8. India-specific FX-spread lifecycle​

Valura's INR→USD margin. Accrues on GlomoPay paid, clears when the merchant batch settles. Dormant when GLOMOPAY_FX_SPREAD_BPS = 0.

fx_spread — accrue $50 on a $10,000 remittance @ 50 bps​

DR 1300 GlomoPay FX Receivable     $50.00    (cust-x)
CR 4030 FX Spread Revenue          $50.00    (cust-x)

No cash impact — the ViewTrade wire_in already booked the $10,000 deposit. This entry just recognises Valura's margin on the conversion.

fx_spread_settle — clear the receivable when the merchant batch pays out​

DR 1010 Bank Operating - USD       $50.00    (cust-x)
CR 1300 GlomoPay FX Receivable     $50.00    (cust-x)

Net of the accrual + settle = revenue earned and cash collected, receivable cleared.

9. fx_in / fx_out — not used on India​

Same posting rules as UAE, but the India book is USD-only. Present in the dispatcher for API symmetry; no India event type maps to them.

10. Reversal (direction from DR/CR)​

Broker correction — mirrors the original event to unwind it.

Credit direction (cash returned to the customer):

DR 1100 Omnibus Cash @ ViewTrade   $x        (cust-x)
CR 2010 Customer Cash Wallet USD   $x        (cust-x)

Debit direction (cash taken back):

DR 2010 Customer Cash Wallet USD   $x        (cust-x)
CR 1100 Omnibus Cash @ ViewTrade   $x        (cust-x)

Also available:

  • Manual reversal — POST /v1/transactions/{id}/reverse mirrors the ACTUAL posted lines of a specific transaction, correct even for recosted fees.
  • Refund-reversal sweep — job that walks cancelled/failed/expired GlomoPay orders and reverses their FX-spread accrual (and settle leg if any). See Refund / cancellation reversal.

The invariant​

Across every customer, every transaction, every account: debits equal credits, in USD, always. Under Valura's omnibus custody model, the tax-side reports (capital gains, dividends, Schedule FA) are reporting layers on top of these balanced postings — they never introduce new debits or credits that could break the invariant.