Vertical: Financial Services

Average Daily Balances

The Average Daily Balance is a financial metric used to calculate average balances of balance sheet accounts over a designated time period, typically monthly, but also quarterly and annually. Average Daily Balances are an important metric for banking and financial institutions due to the need for comparing minimum average balances to actual average balances to avoid fees and charges. Caravel has enhanced the native NetSuite reporting functionality to include reporting on Average Daily Balances (ADB) on Balance Sheet GL accounts. Their SuiteBundle includes reports for the below time frames:

• Monthly Average Daily Balances

• Quarterly Average Daily Balances

• Quarter to Date Average Daily Balances

• Yearly Average Daily Balances

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