Ledfra vs Modern Treasury

Where Ledfra is ahead

The ledger produces the statements

It is the first week of the month and your CFO asks for last month's profit and loss. A ledger that stops at balances hands you every account's number, correct to the cent, and leaves the statement to you: which accounts are income, where the period starts and ends, and a trial balance that proves the figures agree.

Modern Treasury Ledgers is built around balances. It keeps one per account, rolls them up through account categories, and syncs them to your data warehouse for reporting. Ledfra builds the statements themselves. This is the profit and loss from the demo ledger, read straight off its postings:

The balance sheet, trial balance and cash flow statement come from the same postings your code wrote, and a profit and loss run from the ledger's first day ties to retained earnings on the balance sheet by construction.

Prices you can read before a call

Modern Treasury prices Ledgers through its sales team, on annual terms with a minimum commitment. Ledfra's rates are on its pricing page, and one posted transaction counts once, however many entries it carries:

Starter

$149 a month, 10,000 transactions

Growth

$399 a month, 30,000 transactions

Early Access

Free for six months, then no more than $99 a month

Never metered

Reports, reads, failed writes and the sandbox

Early Access runs to 31 December 2026. A workspace created before then keeps its rate for as long as it stays active, and you can stop at any time. What the lock covers is set out in the terms.

Statements you can trust start with structure

A ledger that balances can still report the wrong revenue. Book the share of a payment you owe to someone else as income, and every debit still equals every credit while the profit and loss overstates what you earned. Ledfra publishes rules for the structure, starting with only money you keep is income, in How to design your ledger. The figure above follows them, which is why only the commission shows up as income.

Reconciled against Stripe and PayPal

Ledfra reads your Stripe or PayPal balance with a read-only credential and compares it with the ledger account that mirrors it, movement by movement. A refund your code never posted shows up as a difference, with the processor's own record beside it. See Connect Stripe or Connect PayPal.

Where Modern Treasury fits

Modern Treasury's ledger is built to sit inside its payments products. If you want one vendor to originate the payment and record it, that is its job, and it is one Ledfra does not do: money moves through your processor or bank, and your code posts the result.

The two also work together. A platform can move money with Modern Treasury and record the result in Ledfra to get its statements. Your code posts each event to Ledfra's API, the same way it would from any other payment system.

If anything here is out of date, write to hello@ledfra.com and we will correct it. To see how the ledger is put together first, start with What is Ledfra? or the Quickstart.