What is an account mutation and why is it important for transaction monitoring?

What is an account mutation?

An account mutation is a comprehensive record of incoming and outgoing transactions on a savings account. Banks provide this feature so that customers can monitor cash flows and easily track their transaction history.

Transactions within an account mutation can include:

• Deposits to the savings account
• Withdrawals from ATMs
• Money transfers to other accounts
• Monthly management fees
• Bill payments
• Online purchases

Clear details are displayed for each transaction, including the date, amount, and purpose or recipient. With this information, you can monitor your finances closely and promptly detect any unusual activity.

In today’s digital age, bank account mutations are playing an increasingly important role, especially in the business world. For example, if you run an online store and receive payments from customers, you can easily check incoming payments through your account mutations to verify them.

The benefits of account mutations

The account mutation feature, which provides access to transaction history, is of great benefit to both individuals and businesses. Here are the functions of account mutations.

Track and monitor transactions

A key benefit of account mutations is the ability to track and monitor financial transactions. You can view your current account balance and the specific transactions that have affected it. This includes, for example, the income (cash inflow) and expenditure (cash outflow) in a given period, so you can keep track of your finances.

Proof of transactions

In addition to tracking, account mutations can also serve as proof of transactions for businesses. They can be used to verify payments from customers or confirm payments made to suppliers. In the event of disputes, these records serve as reliable proof of payment, supporting transparency and accountability.

Help with financial reconciliation

With its detailed transaction history, account mutation is an invaluable tool for financial reconciliation, especially in business. By reconciling bank records with internal transaction records, you can confirm that your company’s financial records match bank records, ensuring consistency and accuracy.

Support financial planning

Transaction data in account mutations can also support financial planning. Tracking income and expenditure can provide insight into patterns and provide information on budget allocations for future periods, which aids strategic decision-making.

Prerequisite for credit and visa applications

Another practical use of account mutations arises when applying for business loans and visas. When you apply for a business loan, lenders often require account mutations to assess your financial standing. Similarly, account mutations may be required when applying for a visa as proof of solvency.

How you can check account mutations

You can easily check account mutations via various channels, such as mobile banking, internet banking, ATMs or bank counters. Here you can find out how to access account mutations on several platforms:

Checking via mobile banking

Mobile banking or m-banking application is a preferred method for many people today as it offers easy access to bank accounts via smartphones. Through the application, users can send money, pay recurring bills and view transaction history with only a few simple clicks.

Each bank’s m-banking app may display different time periods for account mutations, ranging from a few weeks to several months. Below is a general guide on how to view account mutations via a mobile banking application:

• Open your mobile banking app.
• Enter your login details (usually a password or access code).
• Select the Account or Transaction Details menu.
• Select the Account Mutation option and enter the desired time frame—such as the last 7 days or a specific date range.
• Some apps allow you to view longer time frames, such as one or two months back.

Checking via internet banking

Internet banking is another convenient option, similar to mobile banking but accessible via a browser without the need for an app. Here you can find out how to check account mutations via internet banking:

• Go to your bank’s internet banking page.
• Enter your username and password.
• Select the e-statement menu or a corresponding option for account mutations.
• Enter the period you wish to view, including month and year.
• Download or save the mutation data as a PDF as soon as it is displayed.

Checking via ATM

For those who do not have access to m-banking, ATMs offer an alternative way to view account mutations, albeit with some limitations. Normally, ATMs only display the last five transactions. However, this method is ideal if you only need information on recent transactions.

Find out how to check account mutations at an ATM here:

• Insert your ATM card and enter your PIN.
• Select the Account Mutation option. If it is not immediately visible, try the More menu until you find it.
• Wait briefly until the ATM prints out a receipt with the last transactions.
• Take your card out again as soon as you have finished.

Checking via Bank Teller

For more complete transaction information, you can visit your bank branch and request account mutations directly. Bring your passbook and a valid ID and stand in line at the counter. Once the teller has processed your request, you will receive a printout with a detailed transaction history.

Differences between account mutations and bank statements

When talking about account mutations, many people often associate them with bank statements. Although both provide a transaction history, they have different purposes and access methods.

Transaction information

Bank statements offer more comprehensive details compared to account mutations as they contain debit and credit transactions as well as additional information on transaction times and dates. 

In addition, account mutations generally only provide limited information as they typically only display transaction activities for the last 7 to 30 days. Account statements, on the other hand, can show a transaction history of more than 30 days.

Accessibility

Account mutations are easier to access than bank statements as they can be accessed via mobile banking and ATMs. Bank statements, on the other hand, usually require you to visit a bank or make an online banking request.

Administration fees

Checking account mutations via mobile banking, the issuing bank’s ATM or the counter service is usually free of charge. However, charges may apply if you retrieve account mutations from an ATM at a non-issuing bank.

Banks, however, often incur a charge for printing bank statements, ranging from Rp2,500 to Rp10,000 per sheet, depending on the bank.

Manage transactions and payments efficiently with Aspire

Account mutations are essential to track your transactions over a period of time. They serve as a useful reference for budgeting and monitoring cash flow, so it is important to keep and manage transaction records.

However, now you no longer need to repeatedly access account mutations to view your transaction history, as Aspire helps you manage transactions and payments effectively.

Aspire is an all-in-one financial platform that streamlines your business’s financial operations, including both inbound and outgoing transactions.

For inbound transaction management, Aspire offers an invoice management feature that allows you to create, issue and send invoices with just a few clicks. The feature also comes with an automatic reminder function to help your business partners pay on time and reduce the risk of late payments.

To manage outgoing transactions, Aspire offers expense management tools that allow you to budget, control and track your expenses in real-time. You can also provide your team with Aspire’s Corporate Cards so you can decentralize business spending while maintaining control of your expenses.

In addition, Aspire also offers a Bulk Payment feature that allows you to send money to multiple recipients at once. All your transaction data is seamlessly integrated into the accounting software, allowing you to complete your recording and accounting up to twice as fast.

Ready to find out how Aspire can transform your business finances? Get in touch with our team today!