We strive to provide you with an insightful, comprehensive operating system to manage your entire financial operations. This guide will take you through the Accounts Overview and Accounts dashboards. It will explain features and outline how metrics are computed. In this guide we will cover:
- Key components of the Accounts page
- Details about the Accounts Overview features
- Individual Account views
- Frequently Asked Questions
Key Components of the Accounts page
These account views provide a comprehensive snapshot of your financial data. They allow you to gain valuable insights and make more informed decisions. Let's explore the key components:
- Summary Metrics: The summary view provides a high-level overview of key metrics across your accounts. It allows you to quickly understand your cash positions and reconciliation statuses.
- Historical Balances: The Historical Balance widget provides a view into historical balances across all your banks and their respective accounts. It offers a detailed understanding of your cash positions over time.
- Cash Flow: The Cash Flow widget visualizes the inflow and outflows across your accounts, enabling you to track and analyze your cash position changes in greater detail.
- Payment Orders by Status: For customers moving money with Modern Treasury, the Payment Order by Status widget presents your Payment Orders. It allows you to oversee your payments and quickly identify issues or discrepancies that require your attention.
- Balances Detail Table: The Balance Details table presents key account data, including current and prior day balances, prior day inflows and outflows, reconciliation percentages, and future inflows and outflows. This table allows you to view accounts within a bank or a created group. It allows you to summarize and analyze your data by currency. In the Balance Detail table, you can drill down into individual accounts for insight into historical balances and transactions.
Calculations Disclaimer
Please note that the specific calculations and time ranges for the Account Overview page may vary depending on your implementation of Modern Treasury. If you are unsure about the accuracy of data, it's recommended to refer to the documentation or reach out to our support team for assistance specific to your implementation.
Accounts Overview Features
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Summary Metrics Widget
Metric Definition Available Balance The available balance represents the total amount of funds that are currently available for use across all accounts for the selected currency. Prior-Day Balance The prior-day balance reports the account balance at the end of the previous business day across all accounts for the selected currency. Reconciled Volume The reconciled volume reflects the total volume of transactions (for the selected currency) that have been successfully reconciled within Modern Treasury across all accounts. It is calculated by dividing the total volume reconciled by the total volume moved. Unreconciled Inflows Unreconciled inflows is the total volume of incoming transactions (for the selected currency) across all accounts that is currently not reconciled. Unreconciled inflows is calculated by dividing total volume of unreconciled inflows by the total volume of inflows. Unreconciled Outflows Unreconciled outflows is the total volume of outgoing transactions (for the selected currency) across all accounts that is currently not reconciled. Unreconciled outflows is calculated by dividing total volume of unreconciled outflows by the total volume of outflows. -
Historical Balances Widget
The historical balances chart displays the account balances over a specified period. It allows you to track changes in your account balance over time. Historical balances represent the account's balance at specific points in time.
The Historical Balances Widget displays:
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Point in time balances, filtered by bank or account groups
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Balance trend lines, filtered by date intervals
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The “as of” date will show the date for the oldest balance update across your accounts. For example, if account X was updated 5/10 at 2:00pm, account Y was updated 5/10 at 1:00pm, and Account Z was updated today at 8:00am, the “as of” date will be 5/10 at 8:00am)
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Ability to select the balance views by Balance Types
There are a variety of Balance Types that banks report. Depending on your account configuration you will receive different balance reports across your internal accounts. We do our best to give you the most complete information possible.
Banks report a variety of Balance types. Depending on your account configuration, you might receive different balance reports across accounts, depending upon your account configuration at your bank.
We do our best to give you the most complete information possible.
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Balance Types (see the Balance object in our developer docs)
Balance Type Definition Opening Ledger The opening ledger balance, also known as the current balance, is computed by the bank at the end of each business day. It reflects the total amount of money in a bank account, taking into account all withdrawals and deposits. The opening ledger balance remains unchanged throughout the day and serves as the starting balance for the following morning.
It's important to note that the opening ledger balance is different from the available balance, which represents the funds that can be readily accessed in an account. The opening ledger balance provides an overview of the account's total balance, while the available balance considers any holds, pending transactions, or other factors that may impact the actual available funds.
Closing Ledger The closing ledger balance refers to the account balance at the end of a specified period or accounting cycle. It represents the account's balance after all transactions and adjustments have been recorded for the given period. Current Ledger The current ledger balance represents the real-time account balance at the present moment. It reflects the most up-to-date transactions and account adjustments. Opening Available The opening available balance represents the available funds in the account at the beginning of a specified period or accounting cycle. It takes into account any holds, pending transactions, or other factors that may affect the actual available balance. Opening Available Next Business Day The opening available balance for the next business day represents the projected available funds in the account at the start of the next business day. It factors in pending transactions and holds that are expected to be processed by the next business day. Closing Available The closing available balance represents the available funds in the account at the end of a specified period or accounting cycle. It considers any holds, pending transactions, or other factors that may impact the actual available balance. Current Available The current available balance represents the real-time available funds in the account at the present moment. It takes into account the most up-to-date transactions, holds, and pending transactions to provide the most accurate available balance. Other The "Other" balance report type refers to any additional balance type or category that may be specific to your accounts or financial institution. It could include specialized balances or custom-defined balance categories that are relevant to your configuration with your financial institutions that are connected to Modern Treasury.
It's important to note that the opening ledger balance is different from the available balance, which represents the funds that can be readily accessed in an account. The opening ledger balance provides an overview of the account's total balance, while the available balance considers any holds, pending transactions, or other factors that may impact the actual available funds.
https://www.moderntreasury.com/learn/what-is-a-ledger-balance | | Closing Ledger | The closing ledger balance refers to the account balance at the end of a specified period or accounting cycle. It represents the account's balance after all transactions and adjustments have been recorded for the given period. | | Current Ledger | The current ledger balance represents the real-time account balance at the present moment. It reflects the most up-to-date transactions and account adjustments. | | Opening Available | The opening available balance represents the available funds in the account at the beginning of a specified period or accounting cycle. It takes into account any holds, pending transactions, or other factors that may affect the actual available balance. | | Opening Available Next Business Day | The opening available balance for the next business day represents the projected available funds in the account at the start of the next business day. It factors in pending transactions and holds that are expected to be processed by the next business day. | | Closing Available | The closing available balance represents the available funds in the account at the end of a specified period or accounting cycle. It considers any holds, pending transactions, or other factors that may impact the actual available balance. | | Current Available | The current available balance represents the real-time available funds in the account at the present moment. It takes into account the most up-to-date transactions, holds, and pending transactions to provide the most accurate available balance. | | Other | The "Other" balance report type refers to any additional balance type or category that may be specific to your accounts or financial institution. It could include specialized balances or custom-defined balance categories that are relevant to your configuration with your financial institutions that are connected to Modern Treasury. |
*Please note that the definitions provided above are general and may vary based on the specific context of your bank implementation. It's recommended to refer to your system documentation or consult with your financial institution for more precise definitions of the balance report types used in your Modern Treasury instance.
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Cash Flow Widget
The cash flow widget offers a view into inflows and outflows across all your accounts over time. It provides insights by allowing you to analyze cash flow trends and cash patterns across specified time intervals.
Inflows represent all money credited to internal accounts over a select time period. Outflows represent all money debited from internal accounts over a select time period.
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Payment Orders by Status
The Payment Orders by Status widget enables you to conveniently monitor and review the status of your payment orders. You can see all status definitions in this help article as well as our docs for even greater detail.
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Balances Detail Table
The Balances Detail Table offers a comprehensive, customizable view of your accounts. It presents data, including prior-day balance and current balances, prior-day inflows and outflows, reconciliation percentages, and future inflows and outflows. in the Balances Detail Table, you can group accounts by a bank or a specified account group for more granular organization and analysis. In addition, for businesses operating across multiple currencies, the Balance Detail table manages and reports on currency holdings.
Each row determines the value for each column. Rows may be a bank group, account group, or a single account. At the bottom of the table, we sum data across currencies.
Here are the definitions of the columns in the table:
Metric Definition Prior-Day Balance The prior-day balance is the account balance at the end of the previous business day. Available Balance The available balance represents the current total amount of funds that are available. Prior-Day Inflows Prior-day inflows are the total volume of incoming transactions across all accounts during the previous business day. Prior-Day Outflows Prior-day outflows are the total volume of outgoing transactions across all accounts during the previous day. Reconciled Volume (%) The reconciled volume indicates the total volume of transactions that have been successfully reconciled within Modern Treasury. Reconciled volume percentage is calculated by dividing the total volume reconciled by total volume moved. Expected Inflows Expected inflows represent the total volume of incoming transactions across all accounts expected in the next day. This field includes payment orders that have effective dates for the next day. Expected Outflows Expected outflows represent the total volume of outgoing transactions expected in the next day.The field includes payment orders that have effective dates for the next day.
Account View
The Account View provides detailed insights into individual accounts using the same widgets, allowing you to dive deeper into specific accounts to analyze detailed transactions, reconcile discrepancies, and gain a comprehensive understanding of individual account performance. In addition, this view provides transaction level data and communicates account details.