Configure a virtual account hierarchy in Modern Treasury to route and auto-ledger sub-tenant receipts under an FBO omnibus account

Steps

1. Create the top-level Internal Account in Modern Treasury representing your FBO omnibus bank account, providing the bank account number, routing number, and currency; this becomes the physical account that holds all pooled funds
2. Create a Ledger with appropriate normal balance settings; within it, create a parent Ledger Account for the FBO (asset type, normal balance debit) and child Ledger Accounts for each sub-tenant or end-user you need to track
3. Create a Virtual Account for each sub-tenant via POST to the virtual accounts endpoint, specifying the parent internal_account_id (the FBO account); the API returns a unique account number and routing number that can be given directly to payers for ACH or wire credits
4. Link each Virtual Account to its corresponding child Ledger Account by including ledger_account in the create request or by updating the Virtual Account with ledger_account_id afterward; this enables auto-ledgering so every incoming payment to the virtual account posts a credit to the linked ledger account automatically
5. Consume payment.created webhooks to reconcile incoming payments; query the Virtual Account's ledger account balance to get the real-time sub-tenant balance without querying the physical FBO bank account directly
6. Originate outbound payments on behalf of sub-tenants by creating Payment Orders from the FBO Internal Account while including the virtual account reference in the remittance field; post a corresponding debit ledger transaction to the sub-tenant ledger account to keep the ledger in sync