At the heart of every Family Office is one or more ledgers. With the sheer amount of Family Offices still utilizing Quickbooks, this is one of the strongest areas of immediate improvement available to your Family Office. By simply consolidating ledgers for numerous legal entities, your Family Office Teams will save incredible amounts of time during the reporting process. Additionally, Entole provides out of the box support for trust accounting, multi-currencies, multiple ledgers, and multiple accounting methods. Just like the rest of the infrastructure, you can provide your own approval rules for Ledger Entries.

 

Accounting Features:

 

  1. Supports Trust Accounting
    1. Income and Principal
    2. 2% Rule
  2. Easily tracks expenses and income by a property, business division, Legal Entity, or group of Legal Entities.
  3. Supports one or more ledgers per Legal Entity, Business Unit, or Family Enterprise
  4. All General Journal (GJ) entries tracked by user
  5. Automated GJ Entries
  6. Automated Distribution Rules
  7. Allocation Tables for Revenue and Expenses
  8. Ability to assign date range to allocation tables
  9. Entries booked automatically on allocation tables
  10. Reconciliation of GL to Banks, Credit Cards (Future Enhancement), A/P, A/R, and Intercompany
    1. Reconciliation to Investment Accounts (Under Development for Future Version)
  11. Ability to lock/unlock prior periods
    1. System also allows permanent locking of a period
  12. Practically unlimited number of dimensions to General Ledger
  13. Multi-company support
  14. Complex consolidations
    1. Roll-up to disparate CoA (Chart of Account) structures
    2. Consolidation for complex ownership
  15. Multiple currencies within same GL
  16. Support for Multiple Accounting Periods
  17. Support for Chart of Account Roll-up
  18. Pre-seeded exchange rates, with ability to add additional rates
  19. Customizable approval flow for GJ entries
  20. Simultaneous posting of intercompany transactions
  21. Fully auditable listing of GJ
  22. Custom fields with reportable dimensions
  23. Cash, Accrual Standard, Accrual Standard for China, and Accrual with Encumbrance
    1. Any accounting method available with configuration
  24. Supports same or difference CoA per LE
  25. User’s access may be set at legal entity, ledger, or ledger segment.
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    Entole
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    Entole