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Onboarding

Before you can manage a Business in Asset, it must first be onboarded to ensure accurate bookkeeping. This process ensures essential information is stored in Asset —such as the business structure, financial tracking start date, and status—allowing Asset to configure the appropriate Chart of Accounts and begin Transaction tracking. Proper onboarding ensures that financial data is categorized correctly, enabling seamless reporting and reconciliation.

To onboard a Business into Asset, call the Create a Business endpoint and include the required business details in your request. The following attributes must be provided

AttributeRequest ParameterDescription
NamenameThe Business’ name
Start Dateentries_startThe first date from which Asset should begin pulling Transactions.
Entity Typeentity_typeThe Business structure, which determines the default Chart of Accounts. Supported types: Sole Proprietorships LLCs Partnerships S-Corporations C-Corporations
Fiscal Yearfiscal_yearThe specific date the Business’ fiscal years ends on
StatusstatusIndicates whether the Business is active or inactive. Transactions cannot be pulled for inactive businesses

Once a Business is created, Asset will automatically assign the appropriate default Chart of Accounts based on the provided Entity Type and begin tracking Transactions from the specified Start Date.

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Ongoing Management

As a Tenant, you need visibility and control over all Businesses created in your platform. This includes updating Business details, retrieving Business information, and managing status (e.g., marking a Business as inactive due to delinquent payments).

Asset provides three API endpoints for Business management:

  1. Retrieve a Business
    • This endpoint provides you with access to all the details of one specific Business
  2. Update a Business
    • Modify one or more attributes of a Business
      • Note: The Entity Type of a Business cannot be changed after creation. If an entity type update is required, you must create a new Business.
  3. List all Businesses
    • Retrieve a list of all Businesses under your Tenant.
    • The response always includes the Business ID and can be customized to include additional attributes such as Status and Entity Type based on request parameters.
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