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Financial Transaction / Journal Entry

vr.wm-eco-016 · wm-eco-016-financial-transaction-journal-entry

Model the atomic accounting posting: a balanced set of debit and credit lines recording one economic event in a ledger, with the identity, time, provenance, authority, evidence and retention context an agent needs to create, validate, post, correct, audit and export it.

World Models Society, people and institutions SOC.ECO.TXN
Bundle → Layer → Finding → QuestionsClassifiersWhat it isWhy it existsDistinguishing featuresWhat robots and AI may and may not doMoral aspectsOwnersLinks to other meta-modelsIdentity and identifiersDirect propertiesRecognitionCapabilities and actionsHazards and failure modesStandards and interfacesContext of useSources

Bundle → Layer → Finding → Questions Filled

6 bundles · 13 layers · 28 findings · 102 questions

Identity and classification of the posting What this entry is, how it is named, which book it lives in and how it is typed.

Entry and line identification

Identifiers for the entry aggregate and its lines, their scope, and the external references that must resolve.

Entry and posting line identification

How the entry and each of its lines are named by the ledger of record, and which external references must resolve back to them.

  1. Which system of record issues this entry's authoritative identifier, and under what scheme? identity
  2. How is each posting line addressed, and does that address stay stable across export and re-import? identity
  3. Which external references - payment end-to-end reference, bank entry reference, source document number - must resolve back to this entry? relationship
  4. Over what scope and for how long is the entry identifier guaranteed unique and never reused? constraint

Journal assignment and entry typing

Which journal or daybook the entry belongs to and how its nature and origin are coded.

  1. To which journal, daybook or subledger is the entry assigned, and who governs that code list? classification
  2. Was the entry keyed manually, generated by an automated interface, or produced from a recurring template? provenance
  3. Which transaction type or bank transaction code describes the economic nature of the posting? classification
  4. May an entry's classification change after posting, and how would such a change be recorded? lifecycle

Ledger and framework context

The book, reporting entity, accounting framework and functional currency that give the posting meaning.

Ledger, entity and accounting framework context

Which book the entry lives in, which legal entity owns it, and under which framework and functional currency it is measured.

  1. In which ledger or book - statutory, tax, management or parallel framework ledger - is this entry recorded? classification
  2. Which legal entity and business unit own the ledger, and by which governed identifier are they named? ownership
  3. Which accounting framework and jurisdiction govern the ledger, and what is its functional currency? authority
  4. When one economic event is posted to several parallel ledgers, how are those postings linked to each other? relationship
Composition, balancing and measurement How the entry is built from lines, why it must balance, and how each line's amount is measured.

Posting structure

Header-to-line composition, the balancing invariant and the analytical dimensions carried by lines.

Header-to-line composition

What constitutes a complete entry, which attributes sit on the header and which repeat on each line.

  1. What is the minimum and maximum set of posting lines that constitutes a complete entry? composition
  2. Which account does each line debit or credit, and how is that account reference resolved and validated? relationship
  3. Which attributes belong on the entry header and which must be repeated on every line? composition

Balancing invariant and control totals

At which level debits must equal credits, which control totals travel with a batch, and what happens on imbalance.

  1. At which level - line set, entry, batch, ledger or currency - must debits equal credits, and to what tolerance? constraint
  2. Which control totals accompany a batch or export, and how are they recomputed on receipt? validation
  3. What happens to an entry that fails the balancing test at capture, at posting and after export? exception

Analytical dimensions on postings

The non-account qualifiers a line may carry and the rules that make them mandatory.

  1. Which analytical dimensions - cost centre, project, segment, counterparty, product - may qualify a posting line? classification
  2. Which dimension values are mandatory for which account ranges, and who sets that rule? requirement
  3. When a line carries a non-monetary quantity or unit, how is it recorded alongside the monetary amount? measurement

Monetary measurement

Amount, direction, currency, translation to reporting currencies and tax attributes.

Amount, direction and currency of a posting

How a line's value and its debit or credit sense are represented, with scale, rounding and edge cases.

  1. Is direction represented by an explicit debit or credit indicator, by a signed amount, or by both, and which representation is authoritative? measurement
  2. In which currency is the line amount denominated, and how is that currency code governed? measurement
  3. What scale and rounding rule apply to the amount, and where is any rounding difference posted? constraint
  4. Are zero-value and negative-value postings permitted, and what do they mean here? exception

Multi-currency translation and rate provenance

Additional currency amounts stored on a line, the rate used, and how later revaluations link back.

  1. Which additional currency amounts - functional, group reporting or tax - are stored on the line? measurement
  2. Which exchange rate, rate date and rate source were applied, and who published that rate? provenance
  3. How are later revaluation or translation adjustments linked back to the original posting? relationship

Tax attributes carried by postings

Tax codes, taxable base, tax amounts and tax point dates carried at line level for audit and tax reporting.

  1. Which tax code, tax type and tax jurisdiction apply to the line, and against which taxable base? classification
  2. How are taxable base, tax amount and any non-deductible portion recorded as separate values? measurement
  3. Which date determines the tax point, and how does it differ from the posting date? temporal
Time, period and lifecycle Distinct time roles, fiscal period placement, state transitions, correction and settlement finality.

Time semantics

The separate date and timestamp roles on an entry and the fiscal period they resolve to.

Distinct date and timestamp roles

Which dates and instants an entry carries, how event time is separated from capture time, and how each is formatted.

  1. Which distinct date and timestamp roles does this entry carry, and what does each one mean? temporal
  2. How is the accounting event time separated from the system capture or ingestion time on this record? provenance
  3. In what format and offset are instants stored, and how are pure accounting dates distinguished from instants? interoperability
  4. Under whose authority may an entry be dated earlier than its capture time, and how is that flagged? authority

Fiscal period, period state and cut-off

How the entry resolves to a fiscal period, whether that period accepts postings, and how cut-off adjustments are marked.

  1. To which fiscal year and accounting period is the entry assigned, and by which rule? temporal
  2. Is the target period open, soft-closed or hard-closed, and who may post into each state? state
  3. How are cut-off, accrual and post-closing adjustments identified and separated from routine entries? classification

Lifecycle, correction and finality

State model up to immutability, correction mechanics, and the finality of transfer-derived postings.

Entry states and the immutability point

Permitted states and transitions, where the record becomes immutable, and how provisional postings are marked.

  1. What are the permitted states of an entry and the legal transitions between them? lifecycle
  2. At which state does the entry become immutable, and exactly which fields may no longer change? constraint
  3. How is a pending or provisional posting distinguished from a booked one by downstream consumers? state
  4. What becomes of drafts that are never posted, and for how long are they kept? retention

Reversal, storno and correction linkage

How a posted entry is corrected without being altered, and how the corrective chain is made traceable.

  1. Is correction made by reversing entry, storno, or negative posting, and which method is authoritative in this ledger? process
  2. How are the original entry, the reversing entry and any replacement entry linked in both directions? relationship
  3. Into which period is a reversal posted when the original period is already closed? temporal
  4. Who may authorise a reversal, and what reason code and evidence must accompany it? authority

Booking status and settlement finality for transfers

Whether the underlying transfer is final, when it became irrevocable, and how provisional postings are unwound.

  1. What booking status does the underlying transfer carry, and does this posting depend on that status? state
  2. At which moment does the transfer become irrevocable and unconditional, and how is that moment evidenced? event
  3. How are provisional postings unwound when a transfer is returned, recalled or rejected? exception

Reversals, corrections and period-end adjustments

Rare but required cases include auto-reversing accruals, prior-period corrections, consolidating and reclassification adjustments, late or unusual entries, and top-side adjustments that may not appear as formal journal entries in the general ledger.

  1. Is this entry a reversal, a correcting entry, a prior-period restatement, or an auto-reversing accrual, and which original entry does it supersede? lifecycle
  2. Is this adjustment a consolidating, combination, reclassification or other top-side item that is not reflected as a formal journal entry in the general ledger? exception
  3. Was the entry recorded at period end or post-close, to seldom-used accounts, by an unusual preparer, or with round-number or unexplained characteristics? event
Provenance, authority and control Where the entry came from, who made and approved it, what may not be changed, and who was entitled to act.

Provenance and audit trail

Source derivation, actor attribution and the protected change history of the record.

Source system, source event and derivation rule

Which system and business event produced the entry, under which posting rule, and whether it can be re-derived.

  1. Which source system, interface and batch produced this entry? provenance
  2. Which source document or business event does the entry represent, and how is that reference resolved? relationship
  3. Which posting rule, template or algorithm derived the lines from the source event, and in which version? process
  4. Can the entry be re-derived deterministically from its source, and would re-derivation mint a new identifier? quality

Actor attribution and approval

Who prepared, approved and released the entry, and how non-human actors are tied to accountable owners.

  1. Who entered the entry, under which account, and on whose behalf? provenance
  2. Who approved or released the entry, when, and under which approval rule? authority
  3. How are entries created by service accounts, robots or scheduled jobs attributed to an accountable human owner? ownership

Change history, immutability and integrity

What the audit trail must capture, how originals are preserved, and how integrity of a posted entry is proven.

  1. What does the change record capture for every modification or deletion attempt on a posted record? evidence
  2. How are both the original and the modified version of a record preserved and retrievable? retention
  3. What control proves that a posted entry has not been altered since posting? security
  4. Is the record held in non-rewriteable non-erasable form or under an audit-trail alternative, and who attests to that? validation

Authority and accounting policy

Who is entitled to post, and under which recognition and measurement basis the posting is justified.

Posting authority, limits and segregation of duties

Entitlement to post to given accounts, periods and amounts, and the prohibited combinations of rights.

  1. Who is permitted to post to which accounts, periods, amounts and ledgers? authority
  2. Which combinations of preparation, approval and posting rights are prohibited for a single actor? constraint
  3. Which decision record authorises an automated interface to post without human approval, and how is it revoked? decision

Recognition, derecognition and measurement basis

Why the posting is permitted under the applicable framework and on what basis its amount was determined.

  1. Which recognition criterion under the applicable framework triggers this posting? requirement
  2. On which measurement basis is the amount determined, and what is the unit of account? measurement
  3. Which event derecognises the asset or liability, and which posting records that removal? event
  4. Does the amount rest on an estimate or judgement, and how is that flagged for audit attention? quality

Initiate, authorize, record and process

Controls must cover initiation, authorization, recording and processing of both automated and manual journal entries in the general ledger, subsidiary ledgers and other IT systems. Segregation of duties and dual control are expected except where a documented compensating control exists.

  1. Who initiated this entry and who authorized it, and are those persons different under the segregation-of-duties rule? authority
  2. Through which IT systems or interfaces was the entry recorded and processed, including subledger feeds? process
  3. Which roles may read the entry or its supporting evidence, and which fields are restricted as personal or commercially sensitive? access
  4. Was any control overridden, and what management or system override evidence exists? security
Validation, assurance and audit signals Rules that make an entry acceptable, checks that make a population credible, and signals that make it suspicious.

Validation and reconciliation

Acceptance rules for a single entry and assurance over the completeness of a population.

Structural and referential validation

Which fields are required, which references must resolve and be active, and how schema conformance is judged.

  1. Which fields are mandatory for an entry to be accepted, and which are conditionally mandatory? validation
  2. Which referenced objects - account, period, currency, tax code, counterparty - must exist and be active at posting time? constraint
  3. Against which schema version is an incoming entry validated, and what happens to unknown fields? interoperability

Reconciliation and population completeness

Whether postings agree to balances, whether the sequence is intact, and who attests that the extraction is complete.

  1. Does the sum of postings agree to opening and closing account balances for the period? validation
  2. Are there gaps or duplicates in the entry sequence, and how is each one explained? quality
  3. How do subledger postings tie out to the general ledger control accounts? relationship
  4. Who attests that the extracted population of entries is complete for the stated scope and period? evidence

Audit risk signals and evidence

Characteristics that make an entry worth investigating, and the supporting documentation behind it.

Journal entry risk indicators

The account, actor, timing and narrative characteristics used to select entries for fraud-focused testing.

  1. Does the entry touch unrelated, unusual or seldom-used account combinations? quality
  2. Was the entry posted by someone who does not normally post to those accounts? security
  3. Was the entry recorded at period end, after close, or outside normal business hours? temporal
  4. Does the entry carry a meaningful description, or is it blank, round-numbered or templated? evidence

Supporting evidence and documentation

Which documents substantiate the entry, how much is required, and how the link is protected.

  1. Which supporting documents are attached or referenced, and where are they held? evidence
  2. What level of supporting evidence is required for each entry type and amount band? requirement
  3. How is the link between entry and evidence protected against substitution, breakage or loss? security
Access, retention and exchange Who may see the entry, how long it must survive, and how it crosses system and jurisdictional boundaries.

Access and confidentiality

Default and privileged read rights, mandated third-party access, and personal data carried inside entries.

Access, mandated disclosure and personal data in entries

Who may read entries, what auditors and authorities may demand, and how personal data inside entries is handled.

  1. Who may read a posted entry by default, and at what granularity - header, line, amount, narrative? access
  2. Which roles may see restricted amounts, counterparties or narratives, and under what conditions? security
  3. What obligation exists to furnish entries promptly to auditors, tax authorities or regulators, and through whom? authority
  4. Which personal data can appear in entry narratives, counterparty fields and attachments? privacy
  5. How is an erasure request reconciled with statutory retention and audit-trail immutability? exception

Retention and disposal

How long entries and their evidence must survive, in what accessibility tier, and how disposal is proven.

Retention schedule, legal hold and lawful disposal

The applicable retention clock, accessibility obligations during it, hold mechanics and evidence of disposal.

  1. For how long must this entry and its evidence be retained, under which rule, and when does the clock start? retention
  2. Which portion of the retention period requires immediately accessible storage rather than archival storage? constraint
  3. How is a legal hold applied to entries, and what does it suspend? exception
  4. What record proves lawful disposal at the end of the retention period? evidence

Exchange profiles and mapping

The formats entries must be delivered in and the code-list mappings and conflicts those formats impose.

Export profiles, mapping and profile conflicts

Which exchange profile applies, what it cannot carry, how local codes map to standard ones, and which profile wins on conflict.

  1. Which exchange profile does the receiving authority or auditor require, and in which version? interoperability
  2. Which model fields have no home in the target profile, and how is that loss recorded? quality
  3. What population, period and entity scope does an export assert, and how is that asserted in the file header? composition
  4. How are local account numbers mapped to standard or statutory account codes for the profile? interoperability
  5. Where do required profiles disagree in semantics, and which one prevails? exception

Classifiers Filled

Family
World Models
Category
Society, people and institutions
Entry kind
aggregate
Navigation path
NAV.SOC.ECO.TXN
Domain
SOC.ECO.TXN
Industry
Cross-industry
Tags
financialtransactionjournalentrysoc.eco.txn

What it is Filled

The subject is one journal entry (posting document) treated as an aggregate: an entry header plus two or more posting lines that must balance, together with everything required to establish that the posting is authentic, authorised, correctly timed, correctly measured, and reproducible for audit. It covers the entry as recorded in a ledger of record and as exported for audit or tax inspection. It does not cover the accounts it posts to, the payment or invoice that caused it, or the financial statements derived from it; those are neighbouring models. The model is storage-neutral: SAF-T XML, XBRL GL instances, pipe-delimited audit data files, ERP tables, MongoDB documents and append-only ledgers are projections of the same semantics.

In scope

  • Entry header and posting lines, their identifiers, and the balancing invariant between debits and credits
  • Monetary measurement: amount, direction, transaction currency, functional and reporting currency translation, rounding
  • Distinct time roles: document date, accounting effective date, posting date, value date, system entry (ingestion) time, approval time
  • Entry lifecycle from draft through posting to immutability, plus reversal, storno and correction linkage
  • Provenance: source system, source document reference, derivation rule, preparer, approver, batch and interface lineage
  • Authority and segregation of duties governing who may post what, where and when
  • Fiscal period assignment, period state (open, soft-closed, hard-closed) and cut-off treatment
  • Tax and analytical attributes carried on lines (tax code, taxable base, cost centre, project, segment, counterparty)
  • Validation, reconciliation to account balances, completeness of the extracted population and control totals
  • Audit risk signals on entries, supporting evidence, change-history and integrity controls
  • Access control, regulator and auditor access, retention, legal hold and lawful disposal
  • Export and exchange profiles (SAF-T, XBRL GL, audit data standards, statement entries) and code-list mapping

Out of scope

  • Chart of accounts, account master data and derived account balances (owned by WM-ECO-015 Financial Account)
  • Payment initiation, clearing and settlement mechanics of a payment instruction (owned by WM-ECO-009 Payment)
  • Invoice and other commercial source-document content and their legal validity requirements
  • Financial statements, consolidation output and disclosure taxonomies
  • Legal entity, customer and supplier master records, including LEI issuance and KYC
  • Currency, unit-of-measure and country code registries as registries
  • Budgeting, commitment and encumbrance accounting, and management forecasts
  • Tax return computation and filing obligations
  • Consensus, cryptographic and network mechanics of distributed-ledger platforms

Why it exists Filled

Model the atomic accounting posting: a balanced set of debit and credit lines recording one economic event in a ledger, with the identity, time, provenance, authority, evidence and retention context an agent needs to create, validate, post, correct, audit and export it.

Distinguishing features Filled

  • The atomic balanced posting of one economic event, not the account, the payment or the invoice.
  • Immutable once posted; corrections are new linked entries.
  • Separates event time from capture time and preparation from approval and posting.
  • Unlike a financial statement, it is source-level detail rather than aggregated reporting.

What robots and AI may and may not do Filled

Must not

  • Post an entry where debits do not equal credits.
  • Edit or delete a posted entry.
  • Approve and post an entry it prepared without a recorded exception.
  • Backdate an entry without marking capture time.
  • Erase entries under retention or legal hold.

Only with a human decision

  • Approving manual or unusual journal entries.
  • Authorising reversals of closed-period postings.

May

  • Draft a posting and validate balance at the declared scope.
  • Attach supporting evidence references.
  • Translate postings to reporting currencies with stated rates.
  • Screen entries for risk indicators and flag them.

Moral aspects Filled

  • Accurate books protect investors, employees, tax authorities and the public from fraud.
  • Entries may include personal data of customers and staff.

Who is affected

  • Reporting entity and its owners
  • Auditors and tax authorities
  • Counterparties named in entries

Owners Filled

Steward

Name the authoritative ledger system of record for each ledger, its identifier scheme, and the scope over which entry identifiers are unique and never reused, before any entry instance is created.

Roles

Ledger owner / financial controller
Declares the ledger profile: framework, functional currency, fiscal calendar, balancing scope and rounding rule.; Owns the posting authority matrix and approves documented segregation-of-duties exceptions.; Authorises period close and prior-period adjustment routes.
Preparer / posting agent
Creates draft entries with complete derivation metadata and meaningful descriptions.; Resolves validation failures before submitting for approval.; Attaches supporting evidence required for the entry type and amount band.
Approver / reviewer
Verifies balancing, period, account and evidence sufficiency before release.; Records approval with identity, timestamp and the rule relied upon.; Authorises reversals with a reason code and refuses in-place alteration requests.
Auditor (internal or external)
Requests complete entry populations with a scope statement and completeness attestation.; Applies risk-indicator screening and inspects supporting evidence for selected entries.; Verifies the storage mode, audit trail integrity and reconciliation to balances.
Tax authority or regulator
Specifies the required export profile, version and filing scope.; Exercises statutory access rights within a logged, scope-limited grant.; Rules on profile conflicts and national code-list precedence.
Records custodian / platform steward
Operates non-rewriteable storage or the audit-trail alternative and maintains its attestation.; Maintains retention classes, expiry calculation, legal holds and disposal certificates.; Maintains code lists, mapping tables and schema versions, and verifies artifact digests and control totals.

Links to other meta-models Filled

child

  • WM-ECO-015 Financial Account - The account is the container that holds postings; this model supplies the postings and takes account identity, status and balance semantics from the parent rather than redefining them.

references

  • WM-ECO-009 Payment - A payment produces one or more postings; the entry references the payment and reads its booking status and finality rather than modelling instruction or clearing mechanics.
  • Invoice / commercial source document model (sibling, identifier not yet assigned) - Supplies the evidencing document referenced by the entry, kept in a separate section in audit file formats and under its own custody and retention.
  • Party / legal entity model (counterparty and reporting entity) - Resolves reporting entity and counterparty references through governed identifiers such as the ISO 17442 Legal Entity Identifier.
  • Currency and unit-of-measure registry model - Supplies governed currency codes, minor units and unit-of-measure codes used by line amounts and quantities.
  • Fiscal calendar and accounting period model - Defines fiscal years, period boundaries and period states that the entry's effective date resolves against.

composes

  • Records retention and legal hold mixin - Contributes retention class, expiry calculation, accessibility tier and hold semantics rather than duplicating them inside the entry model.
  • Actor, role and authorisation mixin - Contributes actor identity, delegation and entitlement structures used by preparer, approver and posting-authority findings.

aligned

  • OECD Standard Audit File - Tax, Version 2.0 - Alignment target for export structure, control totals and the separation of master files, general ledger entries and source documents. National profiles constrain and extend it; conformance is asserted only per delivered profile version.
  • XBRL Global Ledger Taxonomy Framework - Alignment target for entry header and detail representation, multi-currency handling and explicit mapping to financial reporting taxonomies.
  • AICPA Audit Data Standards - General Ledger Standard and ISO 21378 audit data collection - Alignment targets for system-independent field definitions, actor and date fields, and validation and completeness routines used by auditors.
  • ISO 20022 Bank-to-Customer Cash Management message definitions - Alignment target for account servicer entry semantics: credit/debit indicator, reversal indicator, booking status, booking date and value date, and bank transaction codes.
  • IFRS Conceptual Framework for Financial Reporting - Supplies element definitions, recognition and derecognition criteria and measurement bases that justify whether and at what amount a posting may be made.
  • ISO/IEC 15944-4 accounting and economic (REA) ontology - Boundary alignment separating business-level economic events, resources and agents from the accounting artifact modelled here. Asserted at catalogue level only and flagged as an evidence gap.

extends

  • Audit engagement and assurance evidence model - Extends the entry with audit selection, testing and working-paper context without importing audit methodology into the ledger model.

neighbor

  • WM-ECO-015 Financial Account (parent, CONTAINS) - The account owns the chart-of-accounts record and derived balances; this model owns the posting event and its balancing invariant. Account existence and status are referenced preconditions, never redefined here. Audit data and SAF-T structures likewise separate the chart of accounts and trial balance from general-ledger entries.
  • WM-ECO-009 Payment (COMPOSE, produces postings) - A payment is an instruction and a value transfer; a journal entry is its accounting representation. One payment may produce several postings in several ledgers, and a bank statement entry is the account servicer's own posting, not the customer's journal entry. Booking status and settlement finality are read from the payment side and only referenced here.
  • Invoice and commercial source-document model - SAF-T and comparable audit files place source documents in a separate section from general-ledger entries. The entry carries a resolvable reference and a document archive number, but the legal content and format of the invoice belong to the source-document model.
  • Financial reporting and disclosure model - Aggregation into statements, and the taxonomies used to report them, sit outside. XBRL GL provides an explicit mapping module (SRCD) to financial reporting taxonomies precisely because the two layers are distinct.
  • Party / legal entity model - Counterparties are referenced by governed identifiers such as the ISO 17442 Legal Entity Identifier; the entry never becomes the master record for entity reference data or ownership structure.
  • Economic event ontology (ISO/IEC 15944-4 REA) - REA models resources, economic events and agents at business level. This model deliberately covers only the accounting artifact derived from such events; duplicating resource and agent modelling here would collide with that ontology. The alignment is asserted at catalogue level only and is marked as an evidence gap.

parent

  • WM-ECO-015

What else AI and robots need to interact with it Filled

Identity and identifiers required Filled

  • Authoritative master-system identifier issued by the ledger system of record - for example the ERP journal identifier plus line number, or the audit-file transaction and record identifier - is used first, qualified by ledger and reporting entity.
  • Governed global identifier or IRI where one exists and is authoritative for the object, such as the ISO 20022 end-to-end or account-servicer reference for a settled transfer, or an ISO 17442 Legal Entity Identifier for the entity namespace.
  • UUID or ULID minted by the adopting Dimension, used only where neither of the above exists, recorded explicitly as a surrogate together with its minting authority and the natural key it stands for.
  • A date, period, amount, description or filename is never an identifier; such values may be recorded as attributes and used for search, but must not carry identity.

Direct properties not applicable Not applicable

Not applicable

Institutional or informational subject: no invented physical properties.

Recognition optional Filled

  • An entry has a ledger identifier, date, lines with accounts, amounts and debit or credit sides, and a source reference.
  • Often confused with a payment, an invoice, an account balance and a bank statement line.

Capabilities and actions required Filled

  • Draft a posting: Create an unposted entry with header context and candidate lines, derived from a source event or entered manually.
  • Validate an entry: Apply structural, referential, balancing and business rules to an entry and report severities.
  • Post an entry to the ledger: Commit a validated, authorised entry to the ledger of record and make it immutable.
  • Reverse or correct a posted entry: Create a linked reversing or replacement entry rather than altering the original record.
  • Translate a posting to reporting currencies: Derive functional or group reporting amounts for a line from a governed exchange rate.
  • Attach supporting evidence: Bind a supporting document to an entry with a digest and custody metadata.
  • Reconcile postings to balances: Verify that posting movements explain the change in account balances for a scope and period, and analyse sequence integrity.
  • Screen entries for risk indicators: Score a population of entries against fraud-risk characteristics and select entries for testing.
  • Close an accounting period: Transition a fiscal period to a closed state and record the closing balances and residual items.
  • Export an audit or tax file: Produce a profile-conformant export of a declared entry population with control totals and mapping applied.
  • Grant scoped auditor or authority access: Provision time-bounded, scope-limited read or export access for an auditor, tax authority or regulator.
  • Apply or release a legal hold: Suspend or resume disposal for a defined population of entries and their evidence.
  • Authorize journal entry: Record the authorizer distinct from the initiator and attach the authorization event required before posting.
  • Reject or exception-post to closed period: Block posting to a closed period unless a documented exception grant exists for adjusting entries.
  • Classify and reconcile a bank-booked entry: Apply an ISO 20022 bank transaction code to a servicer-booked cash entry so it can be routed to the correct sub-ledger counterpart journal.

Hazards and failure modes required Filled

  • Fraud through manual entries.
  • Misstatement from unbalanced or duplicated postings.
  • Loss of audit evidence.

Standards and interfaces required Filled

  • XBRL Global Ledger taxonomy.
  • OECD Standard Audit File for Tax (SAF-T).
  • ISO 4217 currency codes.
  • ISO/IEC 15944-4 REA ontology.

Context of use required Filled

  • Retention and electronic recordkeeping duties are illustrated using a US securities rule and UK company law; both are cited as examples of the shape of the obligation, not as globally applicable durations.
  • Fraud-focused journal entry testing characteristics are drawn from a US public company auditing standard; equivalent international auditing requirements exist but were not read in this pass.
  • Recognition, derecognition and measurement are anchored on the IFRS Conceptual Framework; jurisdictions applying national GAAP will differ on recognition timing and measurement basis and must override the ledger profile accordingly.
  • Tax attributes are modelled on the shape used by European tax audit files, which is VAT-centric; sales-tax, GST and withholding regimes carry different attribute sets.
  • Settlement finality semantics assume a designated system with a rulebook defining the moment of irrevocability; bilateral and correspondent arrangements without such a rulebook require a different evidencing approach.
  • The ISO 17442 Legal Entity Identifier is assumed available for institutional counterparties; it is not generally available for natural persons or small unincorporated counterparties, so a fallback identifier scheme must be declared.
  • PCAOB AS 2201 and AS 2401 bind US issuer audits and are treated as highly informative controls for any Dimension, not as worldwide law.
  • IFRS Conceptual Framework 2018 is the recognition vocabulary used here; US GAAP, IPSAS and national GAAPs may assign different elements or timing.
  • XBRL GL USK module reflects Saxonic (US, UK, Australia, Canada and similar) journal-tagging needs and is optional.
  • ISO 20022 cash-reporting adoption and bank-transaction-code use vary by payment community (for example CGI, CBPR+, HVPS+) and must be recorded per servicer.
  • Retention periods are jurisdiction-specific and are not given a single number in this model.

Sources Filled

  1. Guidance for the Standard Audit File - Tax, Version 2.0 (Appendix B: SAF-T Schema version 2.00) - OECD Forum on Tax Administration
  2. XBRL Global Ledger Taxonomy Framework 2015 - XBRL International Inc.
  3. Audit Data Standards: General Ledger Standard - AICPA (American Institute of CPAs)
  4. ISO 21378:2019 Audit data collection - International Organization for Standardization
  5. AS 2401: Consideration of Fraud in a Financial Statement Audit - Public Company Accounting Oversight Board (PCAOB)
  6. 17 CFR 240.17a-4 - Records to be preserved by certain exchange members, brokers and dealers - U.S. Securities and Exchange Commission (text hosted by Cornell Legal Information Institute)
  7. RFC 3339: Date and Time on the Internet: Timestamps - Internet Engineering Task Force (IETF)
  8. Conceptual Framework for Financial Reporting - IFRS Foundation / International Accounting Standards Board
  9. Introducing the Legal Entity Identifier (LEI) - Global Legal Entity Identifier Foundation (GLEIF)
  10. ISO 20022 Message Definition Report Part 2 - Bank-to-Customer Cash Management - ISO 20022 Registration Authority
  11. Principles for financial market infrastructures - Committee on Payment and Settlement Systems (BIS) and IOSCO
  12. Companies Act 2006, section 386 (duty to keep accounting records) and section 388 - United Kingdom Parliament / The National Archives (legislation.gov.uk)
  13. Norwegian SAF-T schemas, code lists and test files - Skatteetaten (Norwegian Tax Administration)
  14. ISO/IEC 15944-4:2015 Information technology - Business operational view - Part 4: Business transaction scenarios - Accounting and economic ontology - ISO/IEC JTC 1
  15. XBRL Global Ledger: Transactional Reporting - XBRL International
  16. Audit Focus: Journal Entries - Public Company Accounting Oversight Board
  17. AS 2201: An Audit of Internal Control Over Financial Reporting That Is Integrated with An Audit of Financial Statements - Public Company Accounting Oversight Board
  18. Catalogue of messages - ISO 20022 Registration Authority
  19. ISO 20022 Bank Transaction Codes - External Code Sets - ISO 20022 Registration Authority
  20. ISO 4217 — Currency codes - International Organization for Standardization
  21. Financial Industry Business Ontology (FIBO) repository - EDM Council / Object Management Group
  22. ISO 20022 Message Definitions - ISO 20022 Registration Authority
  23. Transactional Reporting (Global Ledger) - XBRL International
  24. ISO 20022 MDR Part 1 BankToCustomer Cash Management - ISO 20022 Registration Authority

Open questions

  • Top-side, consolidating, combination and reclassification adjustments that never become formal general-ledger vouchers: decide whether the newly added fnd-top-side-adjustments warrants its own structure in this model or an explicit hand-off to a consolidation model, and source it beyond PCAOB staff guidance.
  • Read a data protection instrument (GDPR or an equivalent national regime) as a primary source and rebuild the personal-data, erasure and retention-conflict treatment on it rather than on structural inference.
  • Add ISO 4217 as a cited source for currency code and minor-unit exponent governance; the base asserts scale and rounding rules without a currency registry citation, and only the non-base provider carried one.
  • Add the FIBO Business Process homonym boundary note distinguishing a market-side securities or derivatives transaction from a ledger posting; only the non-base provider carried it and boundary notes cannot be merged through this plan.
  • Obtain the ISO 21378:2019 and ISO/IEC 15944-4:2015 texts, the OECD SAF-T 2.0 XML schema and the camt.053 XSD field inventory so field-level and ontology-level claims can rest on primary text rather than corroboration.
  • Distributed-ledger, hash-chained and token-settlement postings and their effect on the immutability point are unsupported in both providers and are currently treated as a storage projection only.
  • Non-IFRS national GAAP, IPSAS public-sector accrual and AAOIFI Islamic accounting recognition and measurement differences, none of which either provider modelled beyond a generic framework reference on the ledger profile.
  • Governance of automated posting-rule authoring, testing and change control: the base references a posting-rule version but does not model who owns, tests or retires the rule that derives lines from a source event.
  • No data protection instrument (for example GDPR or an equivalent national regime) was read as a primary source, so the privacy finding is structural rather than legally grounded.
  • ISO 21378:2019 and ISO/IEC 15944-4:2015 are paywalled; only their catalogue scope statements were consulted, so no field-level or ontology-level claim rests on them.
  • The OECD SAF-T v2.0 guidance and the CPMI-IOSCO PFMI were retrieved as PDFs whose text layers were not machine-extractable; structural claims attributed to SAF-T are corroborated by the AICPA General Ledger Standard, the XBRL Global Ledger framework and the Norwegian national SAF-T profile, and the PFMI citation is limited to existence, date and subject matter.
  • Non-IFRS national GAAP recognition and measurement differences, and Islamic finance and public-sector accrual variants, are not modelled beyond the generic framework reference on the ledger profile.
  • Distributed-ledger and token postings are treated as a storage projection only; on-chain finality, forks, reorganisations and their effect on the immutability point are not modelled.
  • Consolidation, intercompany elimination and multi-entity matching postings are referenced as an entry classification but not modelled as their own structure.
  • Amount encryption, tokenisation and confidential-computing patterns for restricted ledgers are out of scope.
  • Automated posting-rule authoring, testing and change control is referenced as a rule version but its own governance is not modelled.
  • Official OECD SAF-T 2.0 XML schema was not retrieved in this run; TAF alignment is taken from XBRL GL's stated OECD tax-audit input, not from a national SAF-T implementation.
  • ISO 20022 camt.053 XSD field inventory was not downloaded; cash-entry alignment uses the MDR, catalogue and bank-transaction-code documents.
  • AAOIFI Islamic accounting, IPSAS public-sector budget accounting and Chinese Accounting Standards posting rules are not modelled.
  • Distributed-ledger, hash-chained or token-settlement journals lack primary support here and are gaps.
  • Payroll statutory postings, lease IFRS 16 mechanics, IFRS 9 expected-credit-loss engines and IFRS 15 contract-asset engines are consumers that generate journals, not part of this atomic posting model.
  • UETR and LEI are correlation or party identifiers only; party and payment masters remain sibling models.

Machine files

Card as JSON Specification AGENTS.md Source Card backlog vercy.card/1

Provenance

world-models research · reviewable-draft

Built from: models/wm-eco-016-financial-transaction-journal-entry/spec.yaml, ver-cy/world-models/card-supplements/wm-eco-016-financial-transaction-journal-entry.json