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🧾 Money Management

This document provides a comprehensive explanation of the Money Management module within the Koala platform, with an extended focus on the Direct Debit Mandate Creditor functionality.

💼 What is Money Management?​

The Money Management module in the Koala platform is a centralized hub for handling all financial flows related to client accounts, internal accounts, payment service providers (PSPs), and associated third parties. It plays a critical role in:

  • Automating and securing fund movements
  • Setting up and maintaining direct debit workflows
  • Executing and tracking payment instructions
  • Managing creditor and debtor mandates
  • Ensuring auditability and compliance in financial operations

This module enables finance teams, back-office users, and compliance officers to control and trace every monetary movement, from mandate creation to instruction execution.

Key Functional Areas within Money Management:​

  1. Direct Debit Mandate Creditors
    Storing and managing all authorized direct debit creditors and their details.

  2. Direct Debit Mandates
    Handling the agreements that authorize a creditor to withdraw funds from a debtor’s account.

  3. Direct Debit Instructions
    Defining and scheduling the actual instructions to perform direct debits under existing mandates.

  4. Payment Instructions
    Management of outgoing and incoming payment messages, supporting multiple schemes and PSPs.

  5. Reconciliation Reports
    Comparing external statements with internal transactions to detect mismatches and ensure consistency.