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Cashflow
Maintaining liquidity is crucial for the success, growth, and survival of your business. To make informed decisions about how to use liquidity, you need accurate, up-to-date information about cashflow, the money moving in and our of your business. To start tracking your cashflow in Assetpilot, define the categories you want to use to map your bank transactions. You can then upload and map your bank transactions at the organization or asset level.
Cashflow categories
Cashflow categories are predefined classifications used to sort individual bank transactions based on their nature, such as taxes, operational expenses, capital expenses, etc. All bank transactions need to be mapped to a category to visualize your data. Categories are also essential for creating financial models and the resulting forecasts. Categories in Assetpilot work as follows:
When getting started, we recommend comparing the categories you currently use with the ones in Assetpilot.
Main categories are provided by default and cannot be deleted.
Examples: Taxes, Capital expenses, Operational expenses, Financing.
The categories are also divided further into subcategories by default.
Examples: The category Taxes contains the default subcategories Property taxes and Income taxes. Select the arrows to view subcategories.
To accurately represent your company’s cashflow, you may require additional subcategories. You can easily add these in Assetpilot.
Example: You can add “Software licensing” and “Onsite security” under Operational expenses.
You can edit or delete any category you have created. However, if a category is already in use, you can not delete it from the list.
Example: If you have created the subcategory software licensing and have mapped transactions to it, it cannot be deleted.
Default cashflow categories
Add a new cashflow category
Steps
Navigate to Settings > Categories.
Hover over the desired category, select the plus icon, and give the category a name. Example: Add the subcategory On-site security under Operational expenses.
The new subcategory will now appear in the list and can be used to map your transactions.
Financial past: mapping bank transactions
You can add an unlimited number of bank accounts in Assetpilot. Upload a CSV file for each bank account to import bank transactions manually. After uploading, you need to process the file by assigning ("mapping") each transaction to a cashflow category. Import bank transactions periodically to ensure the accuracy of your forecasts.
Unmapped transactions
An unmapped transaction is a bank transaction to which no cashflow category has been assigned. See Cashflow categories.
All transactions, whether from a bank sync or imported CSV file, first appear under Unmapped transactions.
For each transaction, select a category from the dropdown. Any custom categories you have added will appear in this list.
Once a transaction has been mapped, it appears under Mapped transactions and disappears from Unmapped transactions.
Unmapped transactions can not be applied to financial models.
The system will detect duplicate transactions. For example, if you upload the same CSV file twice, you will receive a notification.
Cashflow: unmapped transactions
Mapped transactions
Transactions that have been assigned to categories are displayed under Mapped transactions. If you are searching for specific transactions, you can use various filters. The categories can now be applied to financial models. see Financial models and forecasts.
To use widgets to display your results, see Dashboards.
Cashflow: mapped transactions
Import transaction files
As each bank formats its CSV exports differently, you need to manually align the columns in the CSV with the cashflow categories in Assetpilot. This ensures accurate alignment of data with the system, regardless of the bank source. The following structure is required for CSV files:
Comma-separated values
Date format: MM/DD/YYYY
Full format: value_date,bank,account,purpose,amount
Example: 09/01/2023,SolarBank,DE98123456780001122334,Einspeisevergütung,2000
See also the sample file "MockbankImportDEMO.csv"
Prerequisites
A CSV file from your bank containing a list of transactions corresponding to the required structure
Steps
For the desired asset or organization, navigate to Cashflow > Unmapped transactions.
Drag and drop your file into the central area, or navigate to the file location.
Each transaction must now be mapped: Assign a category from the dropdown for each transaction.
Once a transaction has been mapped, it will automatically be transferred to the Mapped transactions tab and will disappear from Unmapped transactions. If you wish to change the category, you can do this under Mapped transactions.
Sync with a bank
For a subscription fee, you can automatically import bank transactions instead of manually importing a CSV. This is especially useful if you have a large number of bank accounts and assets, and even more so if you operate in different countries. Once the bank sync is set up, transactions are automatically imported daily, and all you have to do is map the transaction categories. You can divide assets among multiple asset managers, and each asset manager is responsible for the bank accounts/transactions of their assets. The bank sync feature can be activated for all of your organization members.
Item | Name | Details |
|---|---|---|
1 | Sync with bank | Sync with a new bank |
2 | Name of your bank sync | The name you give the bank sync. For security reasons, if your bank is in the EU, you need to log in to each bank account regularly to access the data continuously, e.g. log in every 3 months for TAN approval (see. This date is indicated by Session expires. |
3 | Name of bank account | Bank account within the synced bank |
4 | Resync | If you create a new account at a bank that is already synced, you must select Resync and reenter your credentials You can then link the new bank account to your assets. |
5 | Delete | Delete a bank sync. If you delete a bank account but wish to add it again, you must create a new sync. |
Prerequisites
Purchase of the bank sync feature via subscription
Steps
Navigate to Settings > Bank integrations> Sync with a bank.
Sync with a bank
Enter the name of your bank and select Next. You will be transferred to the secure banking interface.
Create a name for your bank sync
Start typing the name, routing number, IBAN, or city of your bank, and select it when it appears in the list.
Select a bank using the API
Accept the terms of use and select Continue.
Bank login
Enter your bank login data and select Continue.
TAN confirmation
Enter your TAN number and select Continue.
Confirmation message
You will receive a confirmation message and your bank accounts will be loaded into the Bank accounts area. You may need to refresh your browser or log in again for an updated dashboard.