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The Ideal Software for Family Offices

Will Cramer - Tuesday, April 09, 2019

Family Office Accounting & Reporting Software

We hear family offices complaining about increasingly complex ownership and multi-entity structures, making it impossible to manage client assets, reporting and month-end close without burning out their accounting team or having to hire additional staff.

Did you know that Sage Intacct has become the ideal accounting software for single and multi-family offices and wealth managers? It's used to manage over $500 billion in assets.

Sage Intacct's popularity stems from being able to consolidate hundreds of entities with the click of a mouse (at month end or any time), automate inter-entity transactions, and monitor it all in real-time on custom dashboards without extra software or IT support – so you can leave QuickBooks, Dynamics GP and the spreadsheets behind and not have to hire additional accounting staff to manage more entities or clients.

And month-end can be complete in hours instead of days or weeks.

Wake Up from the Nightmare

One of the biggest challenges family offices face when using accounting software that has a linear chart of accounts is that you need separate database environments for each entity, within each client. Then, once you create these separate entities, it becomes very slow and tedious to consolidate entities, meaning that monthly close can takes weeks.

We have one multi-family office that was using 40 instances of QuickBooks and 10 instances of Microsoft Dynamics GP to manage their client assets. They were mired in Excel spreadsheets and couldn't get a clear consolidated picture. With Sage Intacct and it's dimensional chart of accounts, you don't need a software license per entity and you can consolidate all entities in seconds - and the monthly close now only takes a few hours.

More Problems Solved

  • Automate Inter-Entity Transactions: cut transaction data entry in half and eliminate the need for reconciliations by simply entering each transaction into the first entity's account and watch it auto balance in the other
  • Get Real Answers in Real-Time: get the most recent asset valuations needed to run your family office, on your phone or any device, anytime you need them – so that your clients get what they need as soon as they need it
  • Say Goodbye to Manual Accounting Labor: you deserve better than being mired in spreadsheets and spending hundreds of hours on consolidations, monthly closes and inter-entity transaction reconciliations. Upgrade to Sage Intacct today
  • Ensure Security & Privacy: you can restrict users by entity; Sage Intacct is SOC II Type 2 certified and has a variety of tool and procedures in place that are designed to prevent unauthorized programs, systems, and users from gaining access or control of system processes, resources, and data
  • GAAP Compliant & Audit-Ready: you can trust Sage Intacct to ensure all your ducks are in a row

The Video

Request a Family Office Accounting Demo

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

Request a family office accounting software demo today


2019 Accounting Software & Financial Management Buyer's Guide

2019 Accounting Software & Financial Management Buyer's Guide

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