Engineers do not get to make startup mistakes when they build ledgers
https://news.alvaroduran.com/p/engineers-do-not-get-to-make-startuploading story #42270266
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Could someone explain something fundamental to me about the need for double-entry accounting? Why can't your source of truth instead be proper SQL tables following these schemas (using Python tuple/list notation for convenience)?
transactions: [
(txID, timestamp, [
(accountID, delta, otherInfo),
...
], reason),
...
]
accounts: [
(accountID, routingNumber, accountNumber, ownerID),
...
]
Crucially, notice that "accounts" don't track balances here, and so I'm asking: why would I need TWO entries per transaction, and why would I need to do my own tracking of the balance of every account, when I can just keep a single entry per transaction in a proper ACID database and then build any view I need on top (such as running balances) with a battle-tested projection mechanism (like a SQL View) so that I still track a single source of truth?loading story #42271793
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> It’s just that…it goes without saying that fintech companies should know better
haha, if only.
move fast, break everything if it gives profit
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> And yet, I used to work for a startup that, on every transaction, simply lost track of a couple of cents. As if they fell from our pockets every time we pulled out our wallets.
is this not the literal plot of Office Space? did you check for a Michael Bolton employee?
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