Any business or firm faces a unique set of accounting and financial reporting challenges. These are inevitable, and can eat up so much time and money if they are not handled well. Fortunately, we now have available a wide range of integrated general ledger and investment management software systems that can get your office running smoothly. With an investment management software, you can do main things: track your entities and aggregate data.
Track all your entities in a single place
With an investment management software, you can have partnership accounting, foundation management, trust management and personal property management. With the investment management software, you can easily account for all these complex activities. Whether it is tracking the tax basis, capital gains, investment income, or cash distributions, you can confidently rely on the software capabilities for all your investment accounting needs.
Investment management software handles the accounting for all the different types of entities you face when working in your firm or business. These entities can include LLCs, trusts, partnerships, estates and foundations as well as individuals. The flexible chart of accounts can easily accommodate the varying requirements for each of your entities.
Aggregate data from all of your managers
Data aggregation is an important task for any weather manager in a firm or business. Consolidation investment transactions from multiple custodians, like brokerage firms, trusts and banking institutions is not an easy feat. Neither is measuring the portfolio performance of multiple accounts across different entities unless you have an investment management software system that is up to the challenge.
With the data retrieval capabilities of an investment management software, you will have a complete system to handle these challenges. You can download transactions and update all of your client’s portfolios, including hard to price securities like bonds, warrants and option, and create consolidated personal financial statements easily.