Importing Financial Statements from the MARQ Repository

If a customer is associated with the MARQ repository, you can automatically create income/expense statements and balance sheets in Lending Cloud from the customer's financial information in the MARQ repository. Importing also updates the customer's MARQ score that can appear on various screens based on your system administrator's settings.

Note  The import wizard enables you to import pdf copies of customer financial statements from the MARQ™ portal into Lending Cloud. The Importing Financial Statement PDFs
Using the Import Wizard section contains instructions for importing the pdfs.      

To import financial statements from the MARQ repository

1.  On the Trends Manager screen, click the Import Spreads button.

The Import spreads dialog box appears and displays a list of the financial periods for the income/expense statements that the customer uploaded to the MARQ portal.

2.  Select the check boxes for any of the desired financial periods.

Note  If the columns at the top of the Trends Manager screen are empty, the financial statements are automatically added to them in order from oldest to newest when you complete these steps. If you click the Arrange Newest - Oldest check box, this order in the columns is reversed. Imports for existing Lending Cloud customers are not added to the columns.

3.  Click Import.  

The income/expense statements and balance sheets are added to the Trends Manager screen. The text "MARQ" is included in the descriptions for these statements. Beginning and ending balance sheets are automatically linked to the appropriate income/expense statements.

Note  The MARQ portal requires customers to upload sufficient financial information to produce the MARQ score. This information produces a snapshot for the customer in Lending Cloud's MARQ repository which typically includes the following:

•      The most recent interim statement.

•      The three most recent closed fiscal years.

•      Two rolling 12-month periods used for scoring purposes.

         Because the snapshot includes multiple fiscal years, subsequent uploads to the MARQ portal by the customer can include duplicate spreads. For example: if a borrower provides their information to you in January of 2017, the snapshot can include closed fiscal years for 2014, 2015, and 2016. If the borrower re-submits their financial data to you in March of 2017, the snapshot will include closed fiscal years for 2014, 2015, and 2016, again. If you import these financial periods again, you will have duplicate spreads for those years. If you do not wish to create duplicates spreads, remove the check mark next to the appropriate financial periods in the Import Spreads dialog box before importing.