Table of Contents
101: Introduction to Statement
Statements allows users to seamlessly compile their bank data in Trovata across any time period, capturing opening balances, transaction activity, and ending balances. Data can be exported in a simplified format to CSV for quick access and sharing.
Core Use Cases
Ensure Data Completeness: Statements give you peace of mind, confirming that all expected data from automated feeds has been received daily.
Simplify Month-End Processes: Statements play a vital role in month-end reporting. By storing and organizing statements here, accounting teams can quickly access the data needed to complete bank reconciliation workflow and close the books accurately.
Audit and Compliance: Statements simplifies the audit process by providing readily available, consolidated data in exportable formats.
Creating a Statement
Navigate to the Statements page in the side menu. This page shows all existing statement configurations, with favorite statements pinned at the top for quick access.
Click New Statement in the top-right corner to open the creation form.
Choose the Statement Type by deciding between a one-time statement or a recurring statement that generates automatically on a set schedule.
Set the Date Range
For a one-time statement, select a specific date range.
For a recurring statement, choose a rolling cadence. Click Next to continue.
Configure the Balances Source by clicking "Configure Sources" to create a TQL statement for the desired account balances. Click Save Sources to proceed.
Select the Transactions Source. Choose the same source as your balances for accurate reconciliation. Click Next to continue.
Finally, enter the Statement Name, preferred currency conversion, and rounding options.
Click Create Statement to save your statement.
Statement Statuses
Processing Statements: A statement marked as "Processing" means the statement period is still open and being actively updated.
NOTE: Statements that end on a Friday, Saturday, or Sunday usually take extra time to process, as banks often provide additional data when they reopen on Monday.
Completed Statements: When a statement is finalized, its date range will appear in the page header, as shown in the screenshot below.
Recurring Statement Closing Logic
Your statement may remain open for up to two business days after the expected close date while our system confirms that every balance and transaction is present and reconciled. It will close automatically as soon as all three checks below succeed, often well before the two‑day window ends.
All Balances Received
We need both the opening and closing balance for every account on the statement.
Manual Accounts get an extra 24 hour buffer to allow users to update prior‑day balances that automatically roll.
Automated and Virtual accounts close as soon as the closing balance is received.
All Transactions Received
Every transaction that occurred during the statement period must be in our system.
Data Accuracy Check
The numbers must reconcile: Opening Balance + Net Transaction Activity = Closing Balance in each account’s local currency.
If any of these checks is still pending after two business days, the statement will close automatically and display an error message outlining the discrepancies.
Day of Week Examples
Expected Close Date | Forced Closed Date |
Monday | Wednesday (AM) |
Tuesday | Thursday (AM) |
Wednesday | Friday (AM) |
Thursday | Monday (AM) |
Friday | Tuesday (AM) |
Saturday | Tuesday (AM) |
Sunday | Tuesday (AM) |
Statement Actions and Options
Column Customization
Click the configuration icon above the transactions table to:
Rename a column header
Change column order by clicking and dragging column name
Statement Settings
Click the three dots icon in the top right corner to expand your statement options:
Copy Link: Share a link to your statement with collaborators that are provisioned for trovata.
Statement Versions: View and export previous versions of your recurring statements.
Export Data As: CSV or XLSX format.
Statement Settings: Allows you to edit the Statement Creation form referenced above.
Delete Statement: Remove the statement configuration from your instance.