Intraday vs Prior-Day Reporting

File-based reporting involves the transmission of two main types of files:

Prior-Day Files

These files are dispatched daily and offer a snapshot of the account's status from the previous day. They include details such as pending and posted transactions, as well as the account balance at the time of transmission.

Intraday Files

Unlike prior-day files, intraday files are transmitted regularly throughout the day, providing updated information on account activities. This includes transactions pending and posted within the current day.

The frequency of intraday reporting varies among banks, ranging from updates every 15 minutes to updates every few hours. In our dashboard, intraday reports are represented as "Available Balance," showcasing the real-time account balance, while the balance from the preceding day is displayed as "Prior Day Balance."


Intraday Reporting Availability

It's important to note that not all banks support intraday reporting. However, for your Modern Treasury setup, it's advisable to request both prior-day and intraday reporting options to ensure comprehensive monitoring and management of your accounts.