Some of you may have noticed a new banner announcing our new console in your old console/dashboard. Please see that message below

• Enhanced 1099-INTs generation (tax documents)
  • Now, customers/fintechs can use the endpoint POST /account/:account_id/tax_document **** to generate 1099s on demand
    • Customers/Fintechs can generate a 1099 via this endpoint as long as a 1099 doesn't already exist for the account. If a 1099 does exist for the account, customers/fintech can either delete the existing 1099 via the PATCH or DELETE endpoint (if the 1099 has not yet been filed). They can also create a corrected 1099 using the is_correction flag (if the 1099 has already been filed).
  • If a change is needed for the tax document, customers/fintechs can use the PATCH /account/:account_id/tax_document/:id to make the necessary update
    • The PATCH endpoint would allow users to update the status of the 1099 under certain conditions. If the status of the 1099 is ready_for_filing the user could PATCH the status to filing to trigger filing of the 1099. We would trigger the filing of the 1099 and return the entry in filing status. We'll update the status to filed once the filing is completed.
  • Additional endpoints DELETE /account/:account_id/tax_document/:id and GET /account/:account_id/tax_document/:id are available for use
    • For DELETE /account/:account_id/tax_document/:id
      • If the 1099's status is pending or ready_for_filing, we'd use this endpoint to allow deletion of the 1099. At this time, the 3rd party provider doesn't allow changes to unfilled 1099s; instead, customers/fintechs will need to delete the 1099s they want to change and create a new one. When this endpoint is used, we'll delete the associated 1099 and set the status to deleted.
    • For GET /account/:account_id/tax_document/:id
      • Similarly, we've added a GET /account/:account_id/tax_document endpoint that returns the 1099s generated for an account.
  • Documentation
    • https://docs.treasuryprime.com/docs/creating-and-filing-a-1099-int

• Enhanced Statement Generation via POST /account/:account_id/statement
  • Now, customers can use the endpoint POST /account/:account_id/statement to generate on-demand statements.
  • When used, Treasury Prime generates a statement and provides a URL link for configuration to be filled out.
  • The endpoint does not use a statement_config, instead, it requires all parameters that will be used when generating the statement to be supplied with the request.
    • Parameters that are required for a statement_config are also required when generating statements via this endpoint.
  • Automatic monthly statements (bulk on the 2nd of the month) will remain available for those not using this feature
• Documentation
  • https://docs.treasuryprime.com/reference/post_account-account-id-statement

• Update to the [Account] Endpoint
  • Now the [Account] endpoint can provide a list of Daily Balances along with the average balance
  • Documentation:
    • https://docs.treasuryprime.com/reference/get_account-id-daily-balance

• Ability to Split balanced ACH return file
  • This feature is ONLY for Banks with a FIS core
    • We can now generate two files when processing returns:
      • An unbalanced return file
      • A new ON US ACH origination file that instructs internal transfers to fund the return.
  • Restrictions
    • This feature is ONLY for Banks with a FIS core
  • How to Enable
    • For this to be enabled at a Bank, reach out to your Relationship Manager or Treasury Prime Support

Introducing "The Console" (click here for more details)

• Voiding Outgoing Wires with Fees
  • As a Bank, via our new Bank Console, they will be able to return an Incoming wire via a new button “Void Wire Transaction” and apply any associated fees
  • The bank can view all Outgoing/Originated wires in the new Bank Console, From there, a bank can select the wire in question and use the “Void Wire Transaction” button. When the action is triggered (Selecting Void Wire Transaction), a pop-up will appear with the bank representative will be able to provide the reason and a fee (if applicable). When the action is triggered/completed, funds are moved from the outgoing wire settlement account to the FBO. A corresponding transaction is created for the return of funds in the ledger and an additional ledger transaction is created to represent the deduction of the fees from the ledger account.
  • NOTE: For some banks that support sending Treasury Prime notifications about wires being rejected, the process of voiding an outgoing wire is already automated.

• Voiding Outgoing Wires
  • As a Bank, via our NEW Bank Console, they will be able to return an Incoming wire via a new button “Void Wire Transaction”
  • If a wire is created, processed by our system, and sent out to the receiving bank where it's then unable to be processed (for example, due to sanctions against the intended recipient or the recipient's country), the bank will be able to mark the wire as voided and provide a reason why it's been voided.
  • The bank can view all Outgoing/Originated wires in the new Bank Console, From there, a bank can select the wire in question and use the “Void Wire Transaction” button. When the action is triggered (Selecting Void Wire Transaction), a pop-up will appear with the bank representative will be able to provide the reason. When the action is triggered/completed, funds are moved from the outgoing wire settlement account to the FBO. A corresponding transaction is created for the return of funds in the ledger.
  • NOTE: For some banks that support sending Treasury Prime notifications about wires being rejected, the process of voiding an outgoing wire is already automated.
• Returning Incoming Wires
  • As a Bank, via our new Bank Console, they will be able to return an Incoming wire via a new button “Return Incoming Wire”.
  • When an incoming wire is received and is unable to process. The Bank can leverage the “Return Incoming Wire” button to return the wire. A few example reasons as to why an Incoming wire will need to be returned are as follows:
    • We receive an incoming wire with an invalid account number
    • A wire was sent to a closed account
    • Instances of detected fraud
  • The bank can view all Incoming wires in done status from the new Bank Console. From there, a bank can select the wire in question and use the Return Incoming Wireoption. This will mark the wire as returned. In this scenario, Treasury Prime will not move funds. Since the money is still in the inbound wire settlement account, It is up to the bank to move the funds out and return them to the originating bank.

• Update to List Account Endpoint
  • Only ledger and operating accounts will be retrieved using the [Get Account] endpoint. Settlement accounts & FBO accounts will no longer be included in the results. This change ensures streamlined access to relevant accounts for transactions and reporting.

We have moved our changelog to this new site: https://docs.treasuryprime.com/changelog