Transactions are made from a selection of information that allows the user to create & update the holdings in their Canopy Account.

A Transaction is made up of several parts, which are the following: 

What makes up a Canopy Transaction.

Parent account
Custodian
Child account 
Currency
Narration
Amount
Ticker
Quantity
Price
Transaction Types

Here we will explain the function of each part of a transactions 

Parent Account 

This is your user account in canopy. It allows you to record transactions on your account i.e. Falcon

Your Parent Account has already been created.

Falcon

Custodian 

This indicates who is the custodian of your child account. This can be almost anything, but is usually a private bank (i.e. Credit-Suisse), Private Equities, PE/VC Funds, Real Estate the list really does go on. This is an important to split and analyse your date. A parent account can have many custodians (How many is dependent on your tier).

Large custodians such as large private wealth banks are usually split in to separate custodians by the location of the branch. i.e. If I had a Private Bank called "Private Bank A" (PBA) and it had a two branches, a Singapore and a Hong Kong branch, you would create each branch as a separate custodian; "PBASG" and "PBAHK". Many custodians already exist in Canopy but custom ones can be created by yourself to suit your needs. Though we do suggest you carefully check the ones available to you before creating a new custodian. 

Falcon-PBASG

Child Account 

A Child account represents an account relationship with a particular custodian these are to be your portfolios or bank accounts. One Account Code is to be created for one portfolio/ account number, some portfolios can have multiple accounts so should have multiple child accounts.

Many child accounts can be created for each custodian, when creating the account we recommend using a form of identifier (i.e. the last 3 numbers of the account, 01-565-989) to make sure you can keep track of which child account is which bank account or portfolio.

Falcon-PBASG-989

Currency Account

 A Currency (CCY) Account is where transactions in a specified currency are booked.

We suggest upon creation you use an identifier from the account account that it belongs to to help easily identfy it later on. This is particularly useful in you have more than one currency account in the same currency. (i.e. USD 01-565-989-a01 &  USD 01-565-989-z36)   

For example, a USD denominated transaction can only be booked into a USD CCY account and not into a EUR or any other CCY Account.

A Child account can have multiple CCY accounts in multiple currencies.

Falcon-PBASG-989-USD-a01

Falcon-PBASG-989-USD-z36