Fund & Partnership Accounting System Support

The Business Challenge

Over the last few years, Fund and Partnership Accounting software providers have pressed to deliver systems with new and increased functionality. Fund and Partnership accounting Applications serve as the fund’s general ledger and facilitate the process of allocating the fund level amounts to each LP. All applications provide for this basic functionality in addition to other basic core items such as: consolidated database; basic set of pre-configured allocation methodologies (e.g. pro-rata allocation by LP commitment). However, there are some limitations from these applications that challenge many businesses:

  • Limitation with reporting
  • Lack of client presentation quality capabilities (e.g. graphics, formatting)
  • Non-intuitive – requires expert knowledge of back-end database
  • High dependency on outside vendor – costly and long delivery durations

Services

Report Development & Reporting Enhancements

With our expertise in Fund and Partnership Accounting, we provide our clients with the best solution that fits their specific business needs, and fully exploit their system’s capabilities.

Implementation
  • System Design & Configuration – Make elections and decisions based on client specific requirements and system options
  • Historical Data Conversion – Migrate historical data from legacy sources to newly implemented applications
  • Testing & Validation – Develop overall plan/approach, create and execute test cases
System Integration
  • Technology Architecture – Define data flow integration within the overall technology infrastructure where other systems import data to (upstream) and/or export data from (downstream) the accounting system
  • Data Interface Design & Development – Design, code, test and deploy; this includes source system extracts, data translation and automated delivery
  • Data Synchronization among Multiple Systems – Build reconciliations and exception reporting to ensure that the data among various systems are accurate and complete
Process Automation
  • Custom Report Development – Generate various fund and investor level reports (e.g. Investor Capital Account Statements, Balance Sheet, and Income statements)
  • Waterfall/ Incentive Fee Design Model – Analyze current Excel models to develop and automate processes for computing and booking Waterfall/Incentive Fee calculations
  • Accounting Close Process Improvement – Identify and implement enhancements to improve overall process efficiency and controls
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