2 Virtual Accounts Overview

Virtual account management dashboard provides various information and eases the complex data and provides the user a simplified view of current performance. It provides an overall view of all the corporate’s cash positions, balance trends and crucial account information on Real Accounts, Virtual Accounts and Virtual Accounts structures, depending upon the access and role provided to the user. Below widgets are available in Virtual Accounts Management Overview:

  • Accounts and Balances
  • Virtual Entity Summary
  • Position By Currency
  • Balance Trends of Virtual Accounts
  • Top 5 Virtual Account Balances
  • Cash Positions - Overall
  • Virtual Accounts Structure
  • Move Money
  • Quick Links

Note:

Information displayed in each widget (columns, links, graphs, charts, etc.) depends on the access to Real Accounts and Virtual Accounts for which the user has access.

Below explanation gives an idea how data in all the widgets will be shown when Access Management is applied:

  • Real Accounts:

    A user will see information & will be able to transact in only those Virtual Accounts Management enabled real accounts that he has appropriate access to

  • Virtual Entities:

    A user will be able to see all the virtual entities that belong to the party id in context

  • Virtual Accounts:

    A user will see information & be able to transact in only those Virtual Accounts that he has appropriate access to

  • Virtual Accounts Structures:

    A user will see the full list & count of the accessible Virtual Accounts structures of the party ID in context. User can further click on the link to view the structure details.

Figure 2-1 Overview


Description of virtual-accounts-overview.png follows
Description of the illustration virtual-accounts-overview.png

Table 2-1 Overview

dashboard icon Click this icon to go to the dashboard.
Dashboard Click this icon to go to the dashboard

Mailbox Icon

 Click this icon to go to the Mailbox screen.

Search

 Click this icon to search the transactions.

View

 Click this icon to view the welcome note with last log-in details, change entity, logged in user’s profile, or log out from the application.

Filter

 Click this icon to search and select the Party name and ID from the drop-down list. The widget displays the data for the selected party.

Toggle

 Click the toggle menu to access the transaction.

Close

 Click this icon to close the toggle menu. This icon appears if the toggle menu is open.

Note:

  1. Only accessible parties are displayed to the user.
  2. On page load, the widget displays the data of the mapped primary party to the logged-in user.
  3. All the widgets that are based on Real Account balance, these widgets should be disabled operationally during implementation if the DDA Integration is not available.
  4. All the widgets on the Dashboard that show the count and balances of Virtual Accounts also include data from Expired Virtual Accounts.

Accounts & Balances

This widget gives an overall summary about Virtual Accounts Management enabled accessible Real and Virtual Multi-Currency Accounts and how they are linked to different Virtual Accounts and Virtual Accounts Structures. You can select the type of Account (Real or Virtual Multi-Currency Account) and click the link under Virtual Accounts and Linked Structures column to view more details. Total count includes both the accessible and non-accessible virtual accounts.

Virtual Entity Summary

Displays the Entity wise summary and mapped Virtual Accounts to that particular entity. You can click the Entity to view the details. You can also use the quick links to create entity or accounts.

Note:

The widget displays the data based on the below logic:

Sorting is performed according to the number of Virtual Accounts linked with a virtual Entity.

For example, if VE 1 has 15 Virtual accounts and VE 2 has 20 Virtual accounts linked, then VE 2 will be displayed first in the widget. The virtual Entity with the highest number of linked virtual accounts will appear at the top of the list, followed by others in descending order.

Position By Currency

Allows you to view the Balances across all Virtual Accounts and its break-up in different currencies. User can view this information by selecting either Virtual Entity ID or Virtual Entity Name under which all linked Virtual Accounts and their currency wise position will be displayed.

Note:

The widget displays the data based on the below logic:

Virtual entities are sorted alphabetically and then first entity is defaulted in the virtual entity drop-down.

Balance Trends of Virtual Accounts

Displays the Balance trends of Virtual accounts in graphical formats. You can select the Virtual Entity ID or Virtual Entity Name, and Currency to view the trend line of Top 5 Virtual Accounts.

Note:

The widget displays the default data based on the below logic:

  1. Virtual Entity with the most Virtual Accounts is defaulted.
  2. With the defaulted Virtual Entity, the currency with the most Virtual Accounts is defaulted.

Only accessible Virtual Accounts are displayed to the user.

Top 5 Virtual Account Balances

Displays the Top five Virtual Account balances in graphical format by selecting Virtual Entity ID or Virtual Entity Name and currency. You can also hover the cursor to view the balance under a particular account.

Note:

The widget displays the default data based on the below logic:

  1. Virtual Entity with the most Virtual Accounts is defaulted.
  2. With the defaulted Virtual Entity, the currency with the most Virtual Accounts is defaulted.
  3. Only accessible Virtual Accounts are displayed to the user.

Cash Positions - Overall

Displays the overall cash position with total number of Virtual Accounts in various balance range and date wise transactions for selected accounts. You can view the Virtual Accounts within a particular balance group range by selecting a Virtual Entity ID or Virtual Entity Name and currency.

Note:

The widget displays the default data based on the below logic:

  1. Virtual Entity with the most Virtual Accounts is defaulted.
  2. With the defaulted Virtual Entity, the currency with the most Virtual Accounts is defaulted.

Virtual Accounts Structure

Displays the contribution between Virtual Accounts and child accounts and overall balances in the form of tree. The tree displays the parent account and its immediate child account, you can view the details by clicking the expand icon.

You can select the structure code from the list to view the balance against it. You can also click maximize screento expand the widget and get a bigger view.

Note:

The first structure in the drop down is defaulted in the widget.

Move Money

This widget allows user to transfer money from one Virtual Account to another Virtual Account that are mapped to same real account.

Note:

Click Search icon and select the Virtual Accounts to transfer money.

Quick Links

This widget provides the quick links to navigate the most frequently used transactions. The following transactions are available in this widget:
  • Ad hoc Statement
  • Pre-Generated Statement
  • Transaction Inquiry
  • Add Special Rates
  • Add General Rates
  • File Upload