A comprehensive back-office solution for investment advisors. This easy-to-use system integrates partnership and corporate accounting for funds. It also includes a general ledger, allocation system, and accounts payable for management companies.
Specifically designed for investment management companies, Penny™ integrates a complete general ledger package, an accounts payable package (including built-in check generation), and reports for both the company and individual levels. Whether it’s paying bills, recording organizational expenses, charging costs across companies, reporting to the principals, or just performing a bank reconciliation, Penny™ takes care of it all.
Penny™ easily handles the complexities of partnership accounting for your investors. You can: track investments by contribution, automatically allocate investment results by partner, and monitor subscriptions for anti-money laundering requirements.
Penny™ tackles complex jobs like calculating layered realized gains, applying tax specific investor allocations, and creating investor supporting schedules. These tasks are accomplished by combining your existing system’s portfolio information with Penny’s™ financial information to produce tax information for both the fund and investor.
Penny™ tracks stock par values and additional paid-in capital, and even handles the complexities of rounded NAVs and corporate income allocation - so all reports are consistent: from the shareholder register, to the trial balance.
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