Guides

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Guides
How to Build a Fund Custodian

This post is a guide to the operational, money movement aspects of private investing. While the specifics of the investments and the horizon for repayment might vary widely, we hope that this guide is useful in simplifying and demystifying how a fund might automate some of its internal operations. 

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Guides
How to Manage Paper Checks Remotely

Many more of us are working from home right now, which means in-person processes are being taken online. For finance and accounting teams, one common in-person workflow is managing paper checks. There are two sides to check transactions: sending and receiving. Both can be automated. Let’s take them one by one.

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How to Build an Invoice Factoring Company

Invoice factoring advances cash against invoices a company has issued, effectively prepaying the funds that a company’s customers have promised to pay in 30, 60, or 90 days.

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How to Get a SOC 2

When we set out to build Modern Treasury, we knew that as a company that deals with financial data and stores data in the cloud, our customers will expect us to prove our commitment to security. This proof typically takes the form of a SOC 2 report. 

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Guides
How to Choose a Bank

Choosing a bank is more than just a financial decision. At Modern Treasury, we work with many companies building out products that require banking support. This guide will help you ask the right questions from the outset, because running a company comes with enough curveballs, and your banking relationship should not be one of them.

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Guides
How to Setup Continuous Accounting for QuickBooks

This post explains how to use Modern Treasury’s Continuous Accounting product with QuickBooks. We will cover some QuickBooks basics, product decisions we made while building our integration, and how to setup QuickBooks with Modern Treasury.

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Guides
How to Build Products with Real-Time Payments

In late 2017, banks started rolling out Real-Time Payments (RTP). You can learn more about the history and promise of RTP in our previous post about it. Rather than rehash that background or answer common questions, this post will offer a step by step guide to building an app using RTP and the customer delight moment that comes with.

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Guides
How to Collect And Verify Bank Accounts For ACH

This post discusses some of the common tactics businesses use to collect and verify bank account details. Ultimately it is up to each business to decide how they want to approach these tasks. The approaches outlined below can be done in tandem or independently.

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How to Build an Insurance Company

Ultimately, though, the mechanics are similar irrespective of what is being insured: an insurer first calculates the potential damage and the odds that damage might occur. Then, it charges a payment on a regular basis that, in aggregate across all those insured, is designed to make a profit for the insurance company itself. And finally, when and if the risky event comes to pass, the insurance company approves a payment to the customer that incurred the damage. That payout is called an insurance claim. 

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How to Build an Income Sharing Agreement Product

Regardless of specifics, however, the Income Sharing Agreement (ISA) structure is relatively consistent. To define it more explicitly, an Income Sharing Agreement funds a student’s tuition upfront in exchange for receiving a percentage of the student’s future earnings (hence “income-sharing”) based on a pre-defined formula. In this way, the funder can be thought of less as a debt investor and more as an equity investor, receiving “dividends” from the students future earnings.