Family Offices

Unique Challenges of the Family Office

The unique and complex accounting and reporting requirements of managing a Family Office with traditional accounting software is a challenge, to say the least. Ownership administration, capital distributions, fair market value adjustments and tax projections frequently require off-system spreadsheets and other tools to manage portfolios. Working with a software system that can handle these and other issues will allow for more time to focus on the real challenges. The administration of investments, specifically cash flow management is a key differentiator in private equity. Investor capital, fees, distribution of gains from investments, dividends or interest is erratic and unpredictable. It is imperative in this asset class to have a system in place to monitor these cash flows reliably and efficiently. With Sikich Family Office reporting becomes less cumbersome and can be accomplished through the utilization of fully integrated Excel and BI tools.

Sikich Family Office Management for Microsoft Dynamics is a full-featured, fully integrated enterprise financial system for single and multi Family Offices. Deployed either on-premise or cloud-based, Sikich Family Office allows you to manage your family office aspects of financial management, treasury responsibilities, ownership accounting, consolidations, distributions, capital calls, sales and use tax management, tax projections, tax reporting, and flexible performance reporting.

Family Office Capabilities:

Ownership Accounting:

  • Internal/External investment management
  • Active/Inactive tracking
  • Flexible Capital Calls with automatic document creation and storage
  • Flexible Distributions with supporting owner report creation and storage
  • Individual ownership ledgers to track entire transaction history in detail
  • Percent of ownership managed automatically, manually, or automatic with manual override
  • Tax Projection on demand

Financial Management:

  • Roll-up/drill-down financial reporting
  • Flexible, dimension based chart of accounts
  • Automatic Due To/Due From accounting
  • Hundreds of entities managed seamlessly
  • Actual, fair market value, tax and statistical books maintained concurrently

Treasury Management:

  • Distribution of earnings
  • Earnings Accruals
  • Fair Market Value tracking
  • Sweep management

Taxable Income Forecasting:

  • Taxable income projections by entity based on optionally annualized actual GL data
  • Projected K-1 and other manual adjustments
  • Consolidated Projected Income Calculation by owner for any reporting period
  • Separation of S-Corp and Non-S-Corp
  • Multiple projections in the same year
  • Interface to major tax preparation software for tax calculation

Purchasing & Tax Management:

  • Vouchers and checks issued centrally, separated by entity
  • Sales and Use tax accruals
  • Electronic Fund Transfers
  • Global Capabilities:
  • Multi-Currency
  • Multi-Lingual
  • Exchange Rate Management
  • Historic, Average, and Ending Balance Reporting

Reporting and Business Intelligence:

  • Performance Reporting
  • Deployment Options:
  • On Premise deployment
  • Cloud deployment
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