Accounts

From virtual accounts to investor portals, this article covers the different types of accounts.

Connected Accounts

A connected account is one that is tied to a live data feed. Those data feeds come from several sources, including a MorningStar ByAllAccounts connection, an SFTP folder, or a direct connection to an institution via API. 

To set up a standard connected account through BAA (ByAllAccounts), go to the front office, and visit the Accounts & Connections tab. Use the "Add Account" button in the top right, and choose "Connected Account" as the type of account to create. Follow the prompts and on screen directions. The typical flow is: 

1. Search for your institution 
2. Log into to the account as you normally would 
3. Authorize access to the appropriate accounts 
4. Wait patiently for authorization to finish

Once the connection is established, it can take up to 48 hours for data to start flowing to Copia. There are three status's in Copia to help troubleshoot connection issues: 

1. Active. This means data should be flowing without issue. If no data appears after 48 hours, contact Copia to troubleshoot the issue. 

Virtual Accounts

Virtual accounts are used to manually process transactional information in instances where no connected account is available or makes sense. Think about them like accounting accounts, where transactions can live. 

Virtual Accounts in the Front Office: 

To create Virtual Account navigate to the Accounts and Connections tab on the left-hand side of the Front Office. Click "Add Account" in the top right, and choose "Virtual Account" on the right side panel. 

Fill in the necessary information. Start by giving your Account a name and assigning it to the appropriate Entity and select Default Manager. It's important to note that all data within the Account is associated with an Entity, and the Default Manager will be assigned to any new holdings added. You can migrate holdings between accounts and managers at any time, so don't worry about getting this perfect. 

You also have the option to fill in various optional fields that can help you classify your accounts more effectively. There are numerous types of accounts available, and some general categories include:

• Banking 
• Insurance 
• Investments 
• Other 

Viewing Holdings 

While viewing Accounts in the Front Office you also have the option of seeing all Holdings that are stored in each respective accounts. In order to do this simply click on the Account and navigate to the Holdings tab.

1. Entity: Every Account represents a specific entity. Remember, every Asset needs a respective Entity. A good practice would be to start by creating a Virtual Account for each entity. 

2. Manager: Every holding needs a manager! If that manger is yourself, like in this example, make sure you select Self-Managed

Viewing Transactions

Additionally, you have the ability to view all transactions that are stored in each Account. To do this, simply click on the Account whose transactions you wish to view, and then navigate to the Transactions tab.

1. Transaction Type: Every transaction has a corresponding transaction type that it needs to be classified into (Ex. Buy,Sell, Capital Call, Income Distribution etc). Copia supports several transaction types.

2. Asset: Every transaction is associated with an underlying asset. However, it's important to note that transactions are actually stored within holdings, which are what bring assets to life.

Holdings/Transactions in the Back Office

When you access a Virtual Account in the Back Office, you have the ability to view the associated Holdings and Transactions by clicking on the Holdings or Transactions tabs. Additionally, the Back Office offers the convenient feature of being able to view all repeating transactions in one tab. This allows for easy navigation and organization of your Virtual Account data.