Transaction Constituents
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. Some transactions contain more parts than others dependent on their purpose, which are the following:
What makes up a Canopy Transaction.
Here we will explain the function of each part of a transactions
| Types of accounts | |
|---|---|
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. Falcon123 |
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. Falcon123-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. Click here how to create Falcon123-PBASG-989 |
Currency (CCY) 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. Click here for how to create. Falcon123-PBASG-989-USD-a01 Falcon123-PBASG-989-USD-z36 |
Amount | This is reference to your amount of cash that is either coming into the account or leaving the account. In some transactions there is no amount, and recorded as "0", in this case it would mean that no cash is moving in or out of the CCY account. There are certain transaction types when this occurs. We will discuss this later on when we go through the transaction types. |
Ticker | A ticker is the unique Identifier for a security within Canopy. Canopy, where it can, uses pre-existing unique identifiers such as ISIN and Bloomberg tickers. However for privately listed securities that do not have a ISIN for a Bloomberg ticker we can manually crate a Canopy ticker. Any security that is not public listed will always have a manually created Canopy ticker. Some publicly listed securities are not available in Canopy and can be imported on request (for small fee). |
Quantity | Quantity is the 'nominal unit amount', e.g. number of shares, of a security in a normal transaction. In some cases, such as account openings, securities such as Deposit and Loans that normally would not have a nominal unit amount, quantity, will have a quantity rather than an amount. |
Prices | Security prices help is to record and track the change in price. Security prices are how we plot our profit and loss. To learn how to create a security price please visit the Create Security Price page or watch the Securities tutorial video here. |
Transaction Types | There are over 20 transaction types each with there own purpose. A detailed description of each can be found here. |
Transaction Dates | There are 2 types of transaction dates to help reflect the banks statements:
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