Transfer funds in one click
Blockchain payment journal allow you to prepare a transaction to be submitted to the blockchain network.
It allow you to transfer the cryptocurrency holded in Business Central to any address (either internal transfer, to an exchange plateform or a third party).
- Select the blockchain network, the source and destination address
- Set the Cryptocurrency (in case the wallet hold multiple tokens) and the amount to transfer
- Set the Fee level according the desired execution speed. Fee amount are calculated accordingly (only apply for some blokcchain such as Bitcoin)
Approval workflow can be configured with multiple approvers and amount limits. A default workflow tempalte is provided.*
Once a line is ready and approved, the “Submit Transaction” action will broadcast it to the Blockchain network. The transaction enter validation step, and its unique identifier is stored on the journal line until it is confirmed by the blockchain network.
Transaction Execution
Depending the fee level selected and the network condition, a transaction is validated from a second up to hours.
Network such as Solana, Polygon or Ripple have near-zero fee with confirmation time about 5 seconds.
On the other hand, Bitcoin transaction can take severals minutes up to hours. In such case, it is possible to open transaction state in a Blockchain Explorer directly from Business Central link.
Once the transaction status is confirmed, it’s removed from the journal and the system proceed to post accounting.
Automated accounting
Confirmed transaction trigger general ledger entries posting along with auxialiary accounting, when destination wallet is owned by Customer or Vendor.
In such case, the blockchain assets account is devalued in favor of the third party.
Payed fees are posted in separated account, according your configuration.
The set of generated accounting is keept linked with the blockchain transaction, and respect the standard architecture of Microsoft ledgers.