Overview
Wealth360 Fund Accounting is a robust solution designed for financial institutions, offering comprehensive fund accounting capabilities, including income, expense, and realized gain/loss reporting to facilitate tax return preparation. It features a fully integrated general ledger that automates processes, allowing users to define chart of accounts and manage journal entries efficiently. The solution supports multi-currency transactions and includes a NAV proof feature for validating results on demand. Additionally, it automates fund cash rebalancing and distribution processing, ensuring accurate and timely valuations for various fund structures, including fund of funds.
Key Features
Key features of Wealth360 Fund Accounting include:
Integrated General Ledger: Wealth360 Fund Accounting includes a fully integrated general ledger that automates processes, allowing users to define chart of accounts and manage journal entries efficiently, which is crucial for meeting complex industry requirements.
Comprehensive Reporting: The solution provides income, expense, and realized gain/loss reporting for user-defined periods, facilitating tax return preparation and ensuring compliance with financial regulations.
Multi-Currency Support: Wealth360 Fund Accounting supports transactions in multiple currencies, enabling effective management of funds with diverse currency requirements, which is essential for global operations.
Automated Distribution Processing: The system automates the creation of distribution notices and journal postings for funds holding other funds, streamlining the distribution process and enhancing operational efficiency.
Fund Cash Rebalancing: The latest version includes features for automating fund cash rebalancing, allowing for efficient reinvestment of available capital based on target fund weights and configured thresholds.
Key Benefits
Five key benefits of Wealth360 Fund Accounting include:
Enhanced Accuracy and Compliance: The NAV proof feature allows for on-demand validation of preliminary and final NAV results, ensuring accuracy and compliance with regulatory requirements. This feature includes built-in issue detection and reporting capabilities, which are essential for maintaining trust in fund management.
Increased Operational Efficiency: Wealth360 Fund Accounting automates various processes, such as data imports and distribution processing, which streamlines workflows and reduces the risk of human error. This automation enhances overall operational efficiency and allows for timely financial reporting.
Comprehensive Reporting Capabilities: The solution offers extensive reporting options, including performance reporting and tax distribution analysis, enabling users to analyze fund performance and make informed decisions based on detailed financial insights.
Robust Data Management: Wealth360 Fund Accounting provides a comprehensive audit trail for all data updates, ensuring transparency and accountability. This feature is crucial for tracking changes and maintaining data integrity.
Flexibility in Fund Management: The system supports multi-currency transactions and can handle complex fund structures, including fund of funds. This flexibility is essential for managing diverse investment portfolios and catering to global clients.