The Payments Dashboard allows you manage your incoming and outgoing beneficiary payments. To access the Payments dashboard click on Settlements > Payments Dashboard in the navigation pane.
Any trade that is booked in Kooltra with a counterparty of type Payments, will be displayed by default on the payments dashboard. An example of a trades booked with multiple payment accounts is shown in the screenshot below. There are two filters available at the top of the payments dashboard - Show Completed Transactions and Show Non-Payment Transactions. The Show Completed Transactions will display any trades that have already been marked as completed. The Show Non-Payment Transactions filter will display any trades associated with accounts that are not of settlement type Payments.
To make a payment from the payments dashboard, click on a trade ID. This will launch a new tab in your browser which will allow you to view cashflows associated with the trade, make payments, receive payments, view client cash accounts, add documentation relevant to the trade and send confirmations (coming soon). Each one of these actions has it's own section (tab) in the top menu.
There are three summary cards on the right hand side of the Payments Workflow (highlighted in green). These cards allow you to view payment details at a glance. The card at the top shows the payment status of the transaction which updates as payments are made. Once all payments have been made and received, the user can click the complete button to mark the trade as settled. Below the payment status of the trade is the Trade ID, Client (Account) and expected date (settlement date). Both Trade ID and Client are clickable and will open up the trade/account details.
The middle summary card displays the buy side details of the trade. This includes the amount purchased by the Client, the rate of the trade, pending payments, completed payments and available amount. Opposite to the middle summary card, the bottom summary card displays the sell side details of the trade. More specifically it shows how much is owed by the Client, applicable transaction fees, the total amount expected, the total amount received, and any outstanding amounts.
The first tab in the top menu (highlighted above in blue) of the payments workflow is the cashflows tab. This tab allows you to view all incoming/outgoing cashflows (payments) made. You can view the details of each payment by clicking on the Cashflow ID.
Receive Funds Tab
The receive funds tab allows you to specify the amount and type of payment that was received from the purchasing Client. To receive funds, follow the video below. Note that in order to receive funds you will need to specify the Receiving Bank Account, and the Source (Beneficiary). If you do not have bank accounts or beneficiaries set up, please read through the bank accounts and beneficiaries documentation. As seen in this video, multiple payments can be received for a single trade.
Once you have received all payments, you can click on the Receive All button. This will change the status of the trade from Open to Closed.
Payments allows you to specify the amount and type of payment to be made to beneficiares of the Client. To make a payment, follow the same steps as receiving funds. Note that in order to make a payment you will need to specify the Paying Bank Account, and the Beneficiary. If you do not have bank accounts or beneficiaries set up, please read through the bank accounts and beneficiaries documentation. Similar to Receive Funds, multiple payments can be made for a single trade.
Cash Accounts Tab
The cash accounts tab allows you to overview the Client's cash balance by curreny. It also summarizes the balances after the trade has been made, and the balance after payments have been made.
The documents tab allows you to upload any documents relating to the trade or associated payments. To upload a document, select the file using the Choose file button, then click on the green Upload File button. Any files that have been uplaoded will show up in the card below. Files can also be deleted by clicking on Delete.
Confirmation - Coming Soon
Kooltra is integrating with Gmail to allow you to send trade and wire confirmations to your Clients. This feature will be available in the Confirmation tab and will allow you to write notes to your clients, as well as attach additional files to the confirmation.
Competing a Payment
Once a payment is complete, you can click on the Complete button in the top summary card. This will mark the payment as complete and will remove it from the Payments dashboard (unless the filter Show Completed Transactions is checked).
pay, payments dashboard, receive funds