How Company Balance Works

Modified on Thu, 18 Jul at 5:06 AM

Gain a clear understanding of how the Jack’s company balance works, including where your funds are kept, how transactions are managed, and answers to frequently asked questions about accessing and using your company balance.

Utilizing Company Balance for Payable Transactions
Accessing Your Company Balance
Jack ID
Streamlining Financial Operations
Transparent Transaction Tracking
Convenient Fund Management
Security of Funds Inside Company Balance
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As a valued user of Jack, it's essential to have a clear understanding of how your company balance works. In this article, we will provide you with helpful information about your company balance, its functionality, and the various transactions you can use it for. Whether you're looking to make international transfers, local transfers, transfer between Jack accounts, process payroll, pay bills, or seek reimbursements, your company balance plays a crucial role in streamlining your financial operations.

Utilizing Company Balance for Payable Transactions

On Jack, you can leverage your company balance to facilitate a wide range of payable transactions within our platform. Whether you need to initiate international transfers, local transfers, transfer between Jack accounts, process payroll for your employees, pay bills to vendors or service providers, seek reimbursement for expenses, or pay subscription plans, your company balance serves as the central funding source for these transactions. Learn how to top up your company balance here.

Accessing Your Company Balance

You can conveniently monitor your company balance through the user-friendly portal and mobile application provided by Jack. Upon logging in, you will find a dedicated section that displays your current company balance. In Jack Portal, you can find it inside the Dashboard menu, while in Jack App, you can find it inside the Home menu. This feature allows you to keep track of your available funds real-time, at all times.

Jack ID

The Jack ID serves as a unique code that identifies a company account. When users transfer balance funds between Jack accounts, they must input the Jack ID associated with the company to which they are sending the funds. Additionally, users have the option to copy the Jack ID from Jack Portal (not available in Jack App yet) and share it with the sender who intends to initiate a transfer.

For Non-ultimate users, the Jack ID is associated with the company balance. For Ultimate users, each Jack ID is linked to the company’s Primary Bank Account and VA Pocket, with each account having its own unique Jack ID. This way, users can transfer balances between the company’s Primary Bank Account and VA Pocket or vice versa.

To learn more about Between Jack transfers on Jack, check out the details here.

Non-ultimate users

Ultimate users

Streamlining Financial Operations

Store your money inside Jack’s company balance eliminates the need for frequent external fund transfers or payment card usage. Instead, you can seamlessly allocate funds from your company balance for various payable transactions within our platform. This streamlines your financial operations and enhances efficiency, as you can access funds instantly without the need for additional steps or delays.

Transparent Transaction Tracking

Using your company balance as the main source for any payable transactions provides a transparent and organized approach to tracking your financial activities. Jack records all transactions associated with your company balance, allowing you to easily access detailed transaction histories, monitor transaction status, and reconcile your financial records in general. The good thing is, you can also track the expenses for specific teams, date, source account, etc. easily using search and filter capability.

Convenient Fund Management

Using your company balance regularly for any operating expenses, gives you greater control over your financial resources. You can proactively manage and allocate funds based on your business needs. Regularly monitoring your company balance ensures that you have sufficient funds available for upcoming transactions, helping you maintain smooth cash flow operations.

Security of Funds Inside Company Balance

Rest assured, the security of your funds is our utmost priority. At Jack, we go the extra mile to ensure the safety and protection of your money. We hold customer funds in segregated accounts meticulously maintained at some of Indonesia’s largest and most reputable bank institutions, including BCA, BNI, BRI, Mandiri, Permata, CIMB, and Danamon. As a licensed Payment Service Provider, we operate under the strict supervision and regulation of Bank Indonesia. Our compliance with Bank Indonesia regulation: 19/10/PBI/2017 with license no. 13/77/DASP/30, along with our adherence to PPATK regulation: PER-12/1.02/PPATK/06/13, further solidifies our commitment in maintaining the highest standards of security.

With easy access to your balance through Jack Portal or App, you can efficiently utilize it for various payable transactions available on Jack. By streamlining your financial operations and providing transparent transaction tracking, your company balance enhances efficiency and simplifies fund management with utmost security. Embrace the convenience and flexibility offered by Jack’s company balance and enjoy a seamless experience across all financial activities within Jack.