Accounts

The Accounts Component presents a detailed summary of the user's available balance in the currency specified for each statement. With this solution, business owners can keep track of any changes in their balance and review their complete cash-in and cash-out history for the entire accounting period.

Moreover, the Accounts Component offers unique insights generated using forecasting methods developed by upSWOT. These insights are based on an analysis of the client's payment history and provide valuable suggestions on how to optimize their financial situation. By leveraging the power of technology, the Accounts Component helps clients make smarter financial decisions and achieve their goals faster.

Data Sources

The widget uses banking information from the user's business bank accounts. There are three primary origins of banking information:

• Banking aggregators are third-party providers of open banking services that support many institutions across Canada and the USA. Example: Mastercard (Finicity) and Yodlee.
• CORE (centralized online real-time environment) banking system is a back-end system that processes daily banking transactions and posts updates to accounts and other financial records. Example: Alkami, Q2, Banno.
• Standalone financial institutions are banks, credit unions, and other organizations eligible to open and manage bank accounts for their business customers. Example: Capital One, Sunwest.

Key Features

The Accounts Component offers a comprehensive outlook of the user's business bank accounts. All accounts are categorized, and the aggregated sum of available cash balance within all connected cash and credit card bank accounts is presented on a 30-day chart. The Total Cash statement above the graph indicates the balance in a base currency on the date of the last update. The user can choose a specific account to view its incoming and outgoing cash transaction history as well as preview each transaction in detail.

Note: the Web Component is in demo mode.