⚙️ Vlge supports three types of bank accounts.
Visit Financial Dashboard ➡ Banking Section ➡ Bank Settings
Automated Connections
Plaid is one of the most trusted banking connectors offering API Based integrations between banks and 3rd party apps (Vlge etc). You can connect your bank by logging in and synching balances and transactions to Vlge for visibility.
Plaid-connected banks are included in all Total calculations for bank accounts
Western Alliance Bank is the leading banking institution for "shared-interest" communities like HOAs, POAs and Condo Associations with over $90B in Assets. With Vlge, you can open a no-minimum, no monthly charge operating and Reserve account for your finances. Whether you keep a basic operating balance, use WAB for check deposits and ACH, or use WAB for all banking needs, the process is simple. You can fully manage transfers, payments, and transaction tracking through Vlge.
WAB account balances are included in all Total calculations for bank accounts.
Manual Bank Accounts
If you have previous bank statements that you would like imported along with the transaction history and stored along with all other banking information, you can create a "manual" bank account. Manual bank accounts have no automated connections but can be kept up to date if needed through regular CSV imports or manual entry.
Manual Bank Accounts are included in Totals if you select the toggle to include them. More on Manual Bank Accounts here.
🧮 Including Balances in Totals or Operating Totals
Vlge uses balances from your bank accounts to show you totals in the Financial Dashboard as well as the main dashboard for board members (where you land on login or from left navigation).
You can determine which bank accounts appear in the Operating Balance for your dashboard
Manual Accounts can be set to hidden OR to appear in "Total Balance" in your financial dashboard as well as separately, your Operating Balance
Q. Why would I want a bank account NOT to appear in my Total Balance?
A. Its hard to say... but it happens frequently for various reasons. You might be importing an old bank account to save the history and its a work in progress. Unlike Plaid connected accounts which sync and appear automatically, your manual accounts may be less than complete. You may not want your currently calculated balance to appear until you have completed its setup.
Q. For Operating accounts - what should I include in the balance (or not)?
A. We find that most organizations include 1-2 accounts and their balances in their operating calculation (An operating account and perhaps Petty Cash). The operating amount answers the question: "Do we have enough in our bill-pay account for the coming period? (whether that's a week, two weeks, or two months). Organizations keep funds in interest-bearing accounts as long as possible, and move just enough into operating for their monthly or periodic commitments
🛟 Need more help? Just ask!