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Journal

May/June Changelog

In May and June, our team launched new product features and updates, including new features for reconciliation rules, overdue invoice emails, and more.

Matt MarcusCPO

Here is a closer look at the updates and features we shipped in May and June.

Automatic Fallback to ACH for Instant Microdeposits

Users can now create instant microdeposits with a fallback_type and priority. This allows customers to automatically fallback to ACH or Same-Day ACH when their counterparty’s bank doesn’t support RTP or FedNow.

Previously, customers would have to manually check if their counterparty’s bank supports RTP or FedNow every time before deciding whether to initiate an instant microdeposit or fallback to ACH.

Reconciliation Rule Variables

Expected Payments now include reconciliation rule variables. This allows expected payments to be used in conjunction with reconciliation rules, allowing for easier automation of reconciliation tasks. Updated documentation can be found here.

Advanced Reconciliation Rules with Amount Tolerances

Reconciliation rules can now be set with a tolerance for amount ranges. This is useful when reconciliation needs to account for unpredictable transaction values due to variable fees, FX rates, or other factors. You can find more information about rules with amount tolerances here.

Support for Custom Bank Attributes on Payment Orders

Users can now attach vendor-specific attributes to a Payment Order as part of a vendor_attributes parameter. When applicable, our system will serialize these attributes along with the payment instructions and transmit them to the vendor. This allows users to leverage custom fields that only specific banks support. For example, customers at Column Bank can now configure when debited funds are made available. Reach out to our team if you want to add support for a custom field at your bank.

Collapsible Side Navigation

The navbar now has an additional button which allows you to collapse it to a smaller size. When collapsed, the menu items appear as floating popovers when you hover over the icons. This change allows users to increase the app screen real estate, making certain views easier to see on smaller screens.

Last Reconciliation Attempt Timestamps

Modern Treasury now exposes a timestamp for when the reconciliation engine last evaluated a transaction. This helps users understand engine behavior and speed up reconciliation in the platform.

Overdue Invoice Emails

When creating an invoice via API or the UI, users can now set up to three reminders to external counterparties for overdue invoices.

Bulk Archive Expected Payments

Previously, we’ve supported bulk creating and updating expected payments. Now, users can also archive Expected Payments in bulk.

Ledger Account Settlements in the UI

Users can now create ledger account settlements in the ledgers dashboard. This allows finance and ops users to execute payouts and pay-ins that zero out ledger account balances directly via the UI.

Explicit System Conditions for Reconciliation

Users building rules now see system-wide conditions for reconciliation (match transactions on account, currency, direction, and amount) in the UI.

A look at how system conditions for reconciliation can be set.
A look at how system conditions for reconciliation can be set.

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