I am a business analyst currently investigating different options to meet the needs of the investment company I work with. I am not a financial specialist; please keep that in mind when reading my question.
This company manages bank accounts and investment accounts on behalf of their clients. In order to do proper reporting to the client, there is a need to 'duplicate' all these accounts into one place. In other words, we need to create an account of some sort for each bank account or investment account, and to import all the transactions that took place in the 'real' account (bank or investment firm).
Business Central is our first option due to the easy integration with Power Apps and Power BI, which is already in use.
Here is my question: what type of account would you suggest for this?
On one hand, I am drawn to create a cashbook account for each bank or investment account. That makes so much sense and then I can set up an automatic import of transactions. But that would mean many cashbook accounts. Is there a limit to the number of cashbooks that can be opened? Should I rather look at another account type such as a GL account?