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A Financial Record within Vault is made up of the following components

Posting:

A posting represents a debit or a credit in Vault ( i.e. a posting has two sides Debit and Credit ). Postings are instructed using the Postings

API and are stored in the append only Postings Ledger, meaning that once a posting has been committed it cannot be removed or ed ited . The

Postings Ledger is the source of truth, the golden source, for the financial state of Vault

Balances:

Balances are the sum of postings, that is the net result of all of the postings that have been made. A balance in Vault is st ore d against

an account address. The net balance is calculated according to whether the address is associated with an asset or liability a cco unt.

Accounts:

Accounts in Vault are partitioned into one or more addresses, each storing its own balance. The address structure is dictated by the

Smart Contract that the account is associated with. In total these addresses represent the financial state of the account