For a comprehensive guide, please head on to our developer documentation at https://developers.paymongo.com/docs/ledgers/
What it is: PayMongo Ledger is a powerful, programmable solution that helps businesses record and reconcile financial events in real-time. It acts as a robust Ledger as a Service, giving you a complete, centralized, and auditable record of all your balances and transaction flows, without the need for a complex in-house system.
Business Case & Impact:
PayMongo Ledger is designed to simplify your financial operations, giving you a scalable and accurate way to manage a variety of business needs.
Streamlined Operations: With a single, unified system for tracking and managing all customer balances, it simplifies operations and drastically reduces the risk of human error. It can cut down your monthly financial close time from days to just a few hours through automated reconciliation.
Instant Updates: Balance updates are reflected in real-time for both you and your customers. This is crucial for services like e-wallets, loyalty programs, or gift cards, where customers expect to see their balance instantly updated.
Scalable for Growth: The ledger is built to handle a large volume of transactions, supporting businesses of all sizes. It also supports unlimited sub-ledgers, so you can scale horizontally by assigning ledgers per user, product, or use case as your business grows.
Flexible Use Cases: Beyond core payment processing, you can leverage PayMongo Ledger to power a variety of services, including e-wallet services, loyalty point systems, store credits, and digital gift cards.
In Action (Example):
Imagine you run an e-commerce platform with a loyalty program.
Customer Purchase: A customer buys a product from your online store.
Point Issuance: Your platform's system automatically connects with PayMongo Ledger via API to issue a predetermined number of loyalty points to the customer's balance.
Real-Time Update: The customer's loyalty point balance is updated instantly.
Transaction Record: The entire transaction—from point issuance to redemption—is recorded in the ledger, providing a clear audit trail for you to track and reconcile.