Financial statement summary configuration

  • Updated

Financial statement summary configuration

Once the financial statements are captured as part of application creation, these values are usually used in scorecard evaluation to arrive at an overall risk score. As part of the implementation, engineers add custom fields on account that get populated at a logical point in the workflow. The values populated for the account are then used in the scorecard evaluation. Alternatively, custom code is written to achieve this outcome.

With the Titanium release, Q2 Origination is enhanced to display a financial statement summary for a Party. A configuration is introduced where fields on the Party object and the Application object can be mapped to financial statement template detail. The configuration also ensures if the latest year’s financial statement values or an average across the years, to be considered. The mapping needs to be done for both Application and Party object.

To map the fields between financial statement template and application/party, perform the following steps: 

  1. Log in to your Salesforce account.

  2. Go to ( App Launcher) > Origination Configuration> Financial Statement Summary.

  3. Select New.

  4. To define a new mapping, perform the following actions as described in the following table, and then select Save:

    Field Name Action and Information
    Financial Statement Summary
    Object

    Select Party or Application from the Object list.

    Note:

    Application is applicable for Global Cashflow statement type.

    Financial Statement Summary Mapping Details (Select to add new mapping)

    Detail Type

    Latest - If this option is selected, then the values of the financial statement of the latest year is selected. For example, if balance sheet is captured for year 2020 and 2021, then the values of 2021 financial statement are considered.

    Average - If this option is selected, then the average of the financial statement captured across the years is considered. For example, if balance sheet is captured for year 2020, 2021 and 2022, then the average of all these three years are considered.

    Party/Application Field to be Mapped

    Based on the selected object, the fields are displayed in this list that can be mapped to the template details/line items.

    Note:

    The party/application field can be mapped once for the detail type. For example, if APR is mapped once for Latest detail type and once for Average detail type, the system doesn't allow to map it again for the Latest/Average detail type.

    Financial Template

    Select a financial template for which you want to do the mapping.

    Note:
    • For the Application object, you can select only the Global Cashflow template.
    • You can select the template details of various financial templates. 
    Financial Template Details

    Select the financial statement template details to which you want to map the selected field of the application/party.

    This drop-down lists all the line items configured for the financial statement template.

    Note:
    • For Global Cashflow template, only the rollup and compute template details are listed for mapping when Application is selected as the Object. And if Party is selected as the Object, then except Header template details, all other template details are populated for mapping.
    • The financial statement template details can be mapped once for the detail type. For example, if a line item is mapped once for Latest detail type, the system doesn't allow to map it again for the Latest detail type.

    A message is displayed on successful mapping of integration object and financial statement template details, Success: Saved Successfully.

  5. To edit a mapping, for the financial statement summary mapping, select and then select Edit.

    You can add/edit/delete the mapping details and then select Save.

    The modifications to the mapping must apply to the new application creation and must not impact the applications created prior to modification.

Exception Scenarios

If one account is linked to multiple templates, same current ratio in the party object may be linked to multiple template detail from multiple templates. In such a scenario, multiple Current Ratio fields are added on the Party Object and they are mapped to the respective financial statement template detail.

Example

Current Ratio 1 is mapped to Current Ratio of the Small Business Financial Statement template.

Current Ratio 2 is mapped to Current Ratio of the Commercial Real Estate Financial template.

Note:

To reflect the correct current ratio in the Financial Statement Summary section based on the products, Skuid page changes must be done. Scorecard for Small Business products will have Current ratio 1 and scorecard for commercial real estate will have Current ratio 2.