What is the difference between the Monitoring and Cash Flow tabs?

After completing online bank enrollment, data from Plaid will be populated in the Cashflow and Monitoring tabs.

Below is a summary of the information available in each tab:

Cashflow

 

The Cashflow tab is available once the online bank enrollment is completed. Through Plaid, the system retrieves up to the last 12 months of bank statements (if available), providing a detailed view of the applicant’s financial activity.

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How to Use the Cashflow Tab

1. 1. Access the Summary Section

      • The first section, Summary, shows graphs and averages based on the 12 months of data received.

      • These visualizations help quickly understand trends in income, expenses, and overall cash flow.
        
        
        
        Select a Specific Bank Account

      • If the applicant has multiple bank accounts linked, use the account dropdown menu to choose the account you want to view.

      • The system will automatically update the graphs and data to reflect the selected account.
        
        
        
        

        You can view bank statements by clicking on the months listed in the interface.

        • Left Side:

          • Displays the account information and a menu to switch accounts if multiple accounts are linked.

          • The Account Holder field will show the account owner if it was set up during the initial implementation. If not, it will remain blank.
            
            

        • Right Side:

          • Shows a summary of transactions and balances. These are calculated values based on the transaction data received from Plaid.
            
            

        • Bottom Section:

          • Lists individual transactions, including date, category, description, transaction type (debit or credit), and status.

          • The balance is calculated per transaction, not per day, giving a clear running total after each transaction.
            
            

Notes

• If fewer than 12 months of bank statements are available, it is because the account has been open for less than 12 months.

• For new bank accounts, Plaid does not have any historical data to provide. As a result, the Cashflow tab will not be available until sufficient data has been collected.

Monitoring

The Monitoring tab is available only for clients who have chosen to enable this feature on their initial implementation. 

This tab provides a complete view of all transactions for the enrolled bank accounts. It is similar in layout to the Cashflow tab but differs in one key way:

• Cashflow Tab: Displays historical bank statements collected from Plaid.

• Monitoring Tab: Shows real-time transaction data after bank enrollment is completed.

The months displayed in the Monitoring tab are generated based on the transactions received, giving an up-to-date view of the account activity.

If the borrower changes the bank credentials, then we will not be able to get new transactions from Plaid. In this case, the lender must “re-request bank statements” via email to the borrower so they can link the account again, and then we can continue to receive the transactions: