At a company’s option, the system can maintain an aggregate account balance for each fiscal period. This aggregate contains the sum of the daily balances from the beginning through the end of the fiscal period, allowing the calculation of an average of the daily balances for the account over the period.
The system also maintains the current “posted-through” date to allow for the calculation of the average daily balance through the current date. For example, if transactions have been posted through the 10th of the period, the average balance over the first 10 days of the period can be reported.
In addition to averages for the current period, the average balance for an account can be requested on a year-to-date or quarter-to-date basis or for any range of periods in the current fiscal year. Prior year averages are available if prior year data is retained.
Reporting of average daily balances is done using STAR reporting or specific accounts can be requested using online inquiry screens.