Overview
Our Statements builder allows users to seamlessly compile their bank data in Trovata across any time period, capturing everything from opening balances and transaction activity to ending balances. Users can easily export this data in a simplified format to CSV for quick access and sharing.
Note: We're excited to bring you this new feature as part of our early-access beta program. We're actively iterating on this section of our product, with additional features planned throughout Q1 of 2025! If you'd like to adjust your access to this section of the product, please contact your system administrator.
Why is this important?
As a leader in bank data aggregation, our Statements experience lays the foundation for analyzing a consolidated view of cash flows between any two points in time. Designed with flexibility and precision, users can effortlessly inspect and understand the granular details of their bank activity within their chosen timeframe. Additionally, it identifies potential discrepancies or missing data, which is valuable during a bank-to-book reconciliation. (The process where users match their bank account records with accounting records in the ERP to ensure accuracy and completeness.)
Core Use Cases
Ensure Data Completeness - Statements give you peace of mind. This feature confirms that all expected data from automated feeds has been received daily, providing a sense of confidence when using other features in Trovata’s web application.
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 their bank reconciliation in the ERP and close the books accurately. This ensures their ERP reflects actual bank activity for each reporting period.
Audit and Compliance - Our Statements feature simplifies the audit process by providing readily available, consolidated data in exportable formats.
How to Create a Statement
1) Go to the Statements Page
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.
2) Create a New Statement
Click New Statement in the top-right corner to open the creation form.
3) Choose Statement Type
Decide between a one-time statement or a recurring statement that generates automatically on a set schedule.
4) 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.
5) Configure Balances Source
Click Configure Sources to create a TQL statement for the desired account balances. Click Save Sources to proceed.
6) Select Transactions Source
Choose the same source as your balances for accurate reconciliation. Click Next to continue.
7) Finalize and Create
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.
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 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 your data into a CSV format.
Statement Settings - allows you to edit the Statement Creation form referenced above.
Delete Statement - Remove your statement configuration from your instance.