What is CAS (Consolidated Account Statement)?

Consolidated account statement meaning

A consolidated account statement (CAS) is a document that shows all your investments and transactions in one place. This asset management statement helps you track your money, including investments, withdrawals, and balances, making it easier to manage your finances. Let’s understand what is CAS and its importance.

What exactly does a CAS show?

A CAS provides a detailed summary of all financial transactions across your linked accounts, giving you a comprehensive view of your overall financial position. It includes key details such as account balances, allowing you to see the total funds available across various accounts, including investments, Savings and Current Accounts.

The statement records all credits and debits, ensuring you can track deposits, withdrawals, payments, and transfers easily. It also highlights any fees applied to your accounts, such as service fees, penalties, or transaction costs, helping you stay informed about deductions. Interest earned on savings, Fixed Deposits, or other investments is also reflected, enabling you to monitor your passive income. You can invest in stocks, Mutual Funds, and a wide variety of other securities digitally via an Axis Direct Demat and Trading Account. This 3-in-1 account has features of a savings account, a demat account, and a trading account.

The CAS also provides detailed insights into investment portfolios, including Mutual Funds, stocks, bonds, and other financial assets. By consolidating all this information into one statement, the CAS simplifies financial management, enhances transparency, and supports better decision-making for long-term financial planning.

What is the use of CAS?

• Shows the detailed summary of all your investments in one place.
• Gives you a consolidated view of your mutual funds, bank accounts and share investments.
• You can find how your investments are performing month-on-month.
• You can track new investments and redemptions from your existing savings.

Benefits of consolidated account statement

• Simplified tracking: A consolidated account statement brings together all your accounts in one place, making it easy to monitor finances without switching between different mutual fund statements.
• Overview: It provides a comprehensive view of your entire financial portfolio — showing investments, withdrawals, and balances — helping you understand your overall financial situation at a glance.
• Saves time: Merging multiple account statements into one, saves time and effort, eliminating the need to manage several documents for each account.
• Better planning: It helps you manage and plan your finances better by organising all your investments and withdrawals in one document for easy analysis and decision-making.
• Tax reporting: Consolidated account statements simplify tax preparation by providing a single source of truth for all relevant financial data, streamlining the process of reporting earnings and deductions.
• Performance monitoring: It allows you to monitor the performance of your investments and accounts, comparing growth over time and making adjustments to your financial strategy if needed.

Limitations of a consolidated account statement

• Limited to linked accounts: The CAS only includes accounts linked to your primary account or service provider, potentially excluding other accounts. For instance, with an NSDL consolidated statement, you can check all your holdings with NSDL only. Similarly, if you choose CDSL, you would get a CDSL CAS report showing investments made with CDSL.
• Not always real-time: A consolidated account statement may not reflect real-time updates. Transactions processed after the statement period or those still pending may not appear in the CAS, leading to a delay in reflecting real-time balances.
• Limited customisation: You may not be able to filter or adjust the report to focus on specific transactions or details.

How to download the consolidated account statement?

Step 1: Open your Net Banking or log in to the investment portal with your credentials.

Step 2: Check for the 'Statements' tab in your account or the 'Account Overview' section in the portal.

Step 3: Choose the option for a 'Consolidated Account Statement' for the required time frame.

Step 4: Click the CAS statement download link and save the PDF version to your device or email it to yourself for future reference.

Step 5: Once downloaded, verify the details of the portfolio summary report to ensure all your accounts are included.

Conclusion

A consolidated account statement (CAS) is an invaluable tool for you if you are managing multiple financial accounts. Offering a strategic method to view all your transactions and balances, makes financial management more organised and efficient. While the investment account summary has some limitations, its benefits in simplifying and consolidating information make it a must-have for many individuals and businesses.

Disclaimer: This article is intended solely for informational purposes. The views expressed in this article are personal. Axis Bank and/or the author shall not be liable for any direct or indirect loss or liability incurred by the reader arising from reliance on the content herein. Readers are advised to consult a qualified financial advisor before making any financial decisions. Axis Bank does not endorse or guarantee the accuracy of any third-party content or links included in this article.