Ownership Accounting
The Sikich Family Office Management system revolutionizes ownership accounting by offering robust internal/external investment management with active/inactive tracking. It provides flexibility in handling capital calls and distributions, automates document creation, and ensures secure storage. The system maintains precise individual ownership ledgers tracking the complete transaction history. It accommodates various methods for managing ownership percentages – automatic, manual, or a blend of both. Lastly, it offers on-demand tax projections for efficient taxation procedures.
Financial Mangement
Our solution features dynamic roll-up/drill-down financial reporting for clear insight into finances at any level. With a flexible, dimension-based chart of accounts, it tailors financial tracking to the unique structure of each family office. The system expertly manages inter-entity transactions with automatic Due To/Due From accounting. Its robust platform seamlessly handles hundreds of entities, bringing efficiency to scale. Furthermore, it maintains actual, fair market value, tax, and statistical books concurrently, ensuring multi-faceted financial oversight—all within a single, integrated software system.
Treasury Management
We prioritize meticulous handling of earnings. Our approach ensures a precise and equitable distribution of earnings. We streamline the process of earnings accruals, offering real-time financial clarity. We’ve also mastered Fair Market Value tracking, delivering current, actionable asset valuations to aid strategic decision-making. Furthermore, our advanced sweep management strategies are engineered to optimize liquidity and investment returns. Central to our system is the seamless integration of these elements, providing a unified, efficient treasury function catered to the sophisticated needs of family offices.
Taxable Income Management
We offer entity-specific taxable income projections using optional annualized actual GL data. By integrating projected K-1 and manual adjustments, we maintain a granular approach to accuracy. Our consolidated income calculation provides a comprehensive view of projected income by owner across any reporting period. Distinguishing between S-Corp and Non-S-Corp entities, we ensure legal compliance and effective tax planning. To deliver a thorough perspective, we deploy multiple projections within the same year. Finally, our interface’s compatibility with major tax preparation software simplifies and streamlines the process.
Global Capabilities
Core to our approach is the centralized issuance of vouchers and checks, distinctly separated by entity to ensure clarity and accountability across borders. We adeptly manage Sales and Use tax accruals, navigating the complexities of varying international tax obligations with precision. Additionally, our robust platform supports Electronic Fund Transfers (EFTs), facilitating swift and secure cross-border transactions. This holistic approach underscores our commitment to delivering seamless financial operations globally, catering to the diverse and dynamic needs of our clients worldwide.
Deployment Options
We have a few options to deploy software to suite the needs of your family office. We can do on-premise or cloud deployments of our software. Depending on your choice, we can implement robust performance reporting.
