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A Wealth Manager's Experience with Sage Intacct

Will Cramer - Thursday, June 20, 2019

Halstatt is a family-owned investment firm that started from scratch but, with are now currently managing hundreds of millions of dollars worth of real estate, equity investments, and various businesses.

A few years ago, Halstatt had a unique opportunity to plan and execute upon an entirely new accounting infrastructure. The company needed to build a back office that included accounts payable, general ledger, and an entire finance department. The search was on for new accounting software.

Halstatt wanted to implement cloud-based accounting software because it offers speed and efficiency which are critical, no servers or IT team required and upgrades are seamless.

Halstatt had a clear vision of what the system needed to do and Sage Intacct met these requirements.

Sage Intacct Implementation

Halstatt's implementation of Intacct includes:

  • Chart of accounts
  • Dimensions: providing vertical and horizontal views
  • Reporting: financials and valuation
  • Seamless integrations: with third-party software like Nexonia, American Express, and DocAssist

Halstatt is now more efficient in everything they do from GL to reporting.

Consolidation & Grouping

Consolidation and grouping features are also important. For example, Halstatt owns a professional park with multiple buildings that required a stand-alone view from the investment firm. Sage Intacct allows Halstatt to create the stand-alone view while not compromising features or making the system overly complicated.

Fair Market Value Reporting

Halstatt needs to report on the fair market value of its assets on a quarterly basis. As an investment firm, it needs to track and understand asset valuations, quarter over quarter and year over year. The management team needs to distribute this report to the board regularly.

To accomplish this, Halstatt created groups in Sage Intacct for finance reporting and used a separate company to track valuations. By only using the asset side of the general ledger and a dimension, Halstatt can easily and efficiently present this data. Some of the benefits are:

  • Updating assets allowed access to graphing on the dashboard
  • History was also available

This wasn't the original intent of choosing Intacct, but it works great for valuation tracking. Halstatt's chief investment officer used to spend 70-80 hours trying to gather this data on a quarterly basis. Now, it's instantly available in Intacct.

Financial Dashboard

Halstatt's controller tracks the following on his financial dashboard:

  • Balance street: overall and by location
  • Income statement
  • Budget versus plan

On his portfolio dashboard, he tracks:

  • Analysis by fund
  • Condensed
  • Over time

Key metrics tracked:

  • AUM
  • IRR
  • Cash-on-cash
  • Current consolidated cash
  • Notes payable
  • Net income YTD
  • Net income MTD

Request a Financial Services Accounting Software Demo

Our Sage Intacct product experts have put together a financial services demo so you can see all of the above for yourself. Contact us to book your demo today.

Request a financial services accounting software demo today


2019 Accounting Software & Financial Management Buyer's Guide

2019 Accounting Software & Financial Management Buyer's Guide

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