Pension Fund Accounting Software

There are plenty of great reasons to use a software solution for accounting. The best ones will provide you with an easy-to-use interface, offer support, and make it easier to do your job. You’ll also want to look into the different types of pension fund accounting software available, so you can find one that fits your needs.

In this guide, we review the aspects of Pension Fund Accounting Software, investment fund accounting software, retirement plan administration software, and mutual fund accounting software.

Pension Fund Accounting Software

The pension fund accounting software is a perfect accounting tool for the pension fund managers. It helps them to manage different aspects of the pension fund management like accounting, reconciliation and reporting with ease. The software provides all the details on a single platform with features like:

Overview

Pension Fund Accounting Software is a cloud-based software that helps you to manage your pension fund accounts. It is a very efficient and secure software.

Benefits

  • Reduce your costs
  • Enhance your efficiency
  • Improve your performance.
  • Increase your ROI

Key Features

  • Support for multi-company, multi-location and multi-currency
  • Multi currency support (18 currencies)
  • Multi language support

Implementations

A good implementation is important for a successful project. To ensure that you have a good implementation, it is important to put together a good team. The project manager will be responsible for leading this team, and he or she will direct the other members of it in carrying out their tasks. He or she must also be aware of any changes in scope and budget so that he or she can update them accordingly.

The following roles should be filled:

  • Project manager
  • Project administrator (to handle all paperwork)
  • Developer (who will develop everything from scratch)

Competitive Advantage

The software has the following benefits:

  • You can save time by automating certain processes, including fund accounting.
  • You can track your funds with ease, as it uses a simple database structure that’s easy to understand and use.
  • The software allows you to perform competitor analysis, which is useful for strategic planning. It also provides market analysis so that you can determine which markets are best for entry into or expansion within.

investment fund accounting software

For the non-profit or public sector organization, success isn’t defined by generating profits. Accordingly, nonprofits and government entities use different accounting methods than for-profit businesses.

A fund accounting software offers visibility into your financials to better understand exactly how each dollar is spent. With improved financial clarity, you’ll be better equipped to lower operational costs and maximize the impact of every dollar.

We’ve compiled a list of popular fund accounting systems to help you find the best solution for you:

Aplos is a true fund accounting software which allows you to easily apply contributions and gifts to specific funds or projects. Keep track of how close you are to reaching your goals, and provide better financial stewardship for your organization.

Unlike other accounting software solutions, Aplos is specifically created for the complexities of nonprofits and churches—not for for-profit businesses.

Blackbaud Financial Edge NXT is a complete cloud accounting solution designed to meet the unique needs of nonprofits and government entities. Built on Blackbaud’s expertise and experience of over three decades, Blackbaud Financial Edge NXT delivers all the tools your NPO needs to manage financial reporting, monitor and track program success, support fundraising efforts, and ensure overall integrity.

Intuitive, reliable, and secure, Blackbaud Financial Edge NXT can help streamline financial processes at your organization, so you can spend more time and resources to drive your mission forward. And it comes to you on one cloud platform that’s fast, secure, and always current.

MIP Fund Accounting exclusively serves the financial management and fund accounting needs for thousands of nonprofits and government agencies. MIP has received the Campbell Award for several years in a row. This software is focused strictly on custom designs for your system to enable you to manage effectively, get timely information, streamline processes and provide strong controls.

MIP is a fully integrated system with comprehensive functionality including fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, dashboards, and more. This flexible structure enables you to manage and report on multiple cost centers at the general ledger level including multiple organizations, funds, projects, grants, programs, departments, locations, etc.

Sage Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Sage Intacct was built by finance professionals, for finance professionals, providing powerful automation of complex processes and multi-dimensional data analysis even for government and nonprofit entities.

FastFund Nonprofit Software is a fully integrated fund accounting system designed by Certified Public Accountants. Affordable modules include General Ledger, Accounts Payable, Accounts Receivable, Cost Allocations, Payroll and Fundraising.

Handles the complex reporting requirements of multi-funded organizations. Designed to maintain separate financial records for each program. User definable chart of accounts to define funds, cost center and accounts. Powerful reporting capabilities produce custom reports to meet all your fiscal requirements including multi-year reports, budgets and reports that comply with FASB 116 and 117.

What Is Fund Accounting Software?Key FeaturesWhy Use a Fund Accounting System?What Does Your Organization Need?Does QuickBooks Do Fund Accounting?Market Trends

What Is Fund Accounting Software?

Fund accounting software is designed to enable improved allocation management of resources which have been designated for specific uses. A common application found within nonprofit accounting software, funds are a special type of accounting entity which provides a self-balancing set of accounts allowing the reservation of cash and non-cash assets for specific purposes or activities.

Fund accounting is most commonly used by nonprofits and government entities because these organizations need to track expenditures and balances across multiple funds and have them appropriated at certain times.

What are the Features of Fund Accounting Software?

Best Fund Accounting Software Benefits

A few of the most common benefits companies experience when utilizing fund accounting software include:

Track Expenditures to Fund Sources

To start, a fund is a unit of financial organization with a self-balancing set of accounts designed to record cash and other assets together with related balances and liabilities. Fund accounting software provides the automated ability to create financial statements and balance sheets for each fund.

Organizations providing funds often require clear reports detailing how the money has been spent. Fund accounting software can create detailed reports designed for this purpose. By improving your ability to document the impact of previous expenditures, you can help promote your ability to receive future funding.

Industry-Specific Applications for NPO Operations

Just as there are accounting packages designed with manufacturers or retailers in mind, software developers have created fund accounting software to meet the specific accounting requirements of nonprofit and government organizations. Using software geared for commercial for-profit operations can lead to a number of issues for nonprofits and government entities.

While the profit motive may not be behind it in the case of nonprofits and government entities, every organization is looking to maximize their efficiency. Fund accounting software provides an accounting approach designed to eliminate time-intensive workarounds necessary to make standard commercial packages work.

Tighten Your Financial Management

Fund accounting software modules provide a number of inherent benefits. Donations, grants, and endowments are frequently provided to the non-profit organization with specific instructions on the usage of the funding. Tracking these financial assets in funds allows the non-profit organization to easily see how each dollar was spent. The results of failing to meet specific spending restrictions can have negative consequences, including discontinued funding.

The first step of meeting spending restrictions is knowing where every penny is allocated. For any government entity, GASB standards actually require that accounts are kept on a fund basis. Fund accounting software allows governments to track a variety of different funds including general/operations, special revenues, capital projects, debt services, permanent, fiduciary, and proprietary funds.

What Does Your Organization Need?

Which type of fund accounting does your organization need? You may just need a solution that can handle the management of funds/grants, or you may need a complete accounting system that includes other back-end accounting functionalities like accounts payable and a general ledger.

New Buyers and Small Organizations

However, most end-users of entry-level fund accounting solutions will be start-up nonprofits, churches, and very small municipalities or local government organizations who are just trying to track a particular grant or comply with strict reporting guidelines for auditing.

For very small organizations, a complete accounting software may cover all the fund accounting functionality necessary, though a separate software may be best suited to fit the specific needs of a growing nonprofit organization.

Existing Users Desiring Expanded Functionality

Current users of fund accounting solutions may start looking to expand upon existing functionality as they grow. As you deal with more and more funds, you’ll need strong IT support and security, which may not be offered with a basic package. These are all great reasons to take a deeper look into your software solution and see if it’s meeting not just today’s needs, but also tomorrows.

Large Organizations

Finally, larger organizations may have a handful of legal entities they are recording within their systems, or perhaps have dozens of programs, projects, locations, etc. all with their own funds for various causes that need to be managed. Simply put, organizations with a lot of funds likely will have even more as they continue to operate and will need a scalable solution to handle them.

Does QuickBooks Do Fund Accounting?

QuickBooks is one of the most popular solutions for organizations with tight budgets, which rings true for many nonprofits and government organizations. QuickBooks does have nonprofit versions of their Desktop Enterprise solution, automating of fund and program accounting, and customization to create lists of members/donors and track budget by programs or funds.

Yet in a recent study conducted by our company, we found companies looking to replace QuickBooks and find a new nonprofit accounting solution were more likely to review the options listed above than any other nonprofit accounting solution.

retirement plan administration software

Congruent’s CORE platform offers you a holistic solution to manage, administer and maintain your retirement plans.

With futuristic functionality and technology to match, CORE helps you offer an intuitive and seamless experience to your Plan Sponsors and Plan Participants, increasing your operational efficiencies without adding concerns about infrastructure or data security.

We offer virtualized infrastructure, offering you the flexibility to scale up or down as required – meaning that you pay only for servers and infrastructure that you really need. Your efficiencies are further improved by our robust cloud deployment, which ensures close to a 99.99% uptime and secure remote access.

All CORE solutions are built with a focus on self-service, giving you the flexibility to pick and choose which solutions you require, as well as configure the product to fit your exact needs – right from branding, menus, functionality, validations, communications, to the workflow itself.

Our state-of-the-art architecture enables us to integrate seamlessly with your recordkeeping platforms through files, APIs, web services or even through ESBs such as BizTalk. The scalable system supports multi-threading capabilities and high volumes of concurrent users, making it perfect for administration of very large plans of more than one million participants.

You can work with any or all parts of the CORE Suite of Solutions:

CORE Payroll

CORE Payroll Solutions improve the productivity and efficiency of your plan administration by simplifying payroll processing.

CORE Eligibility & Enrollment Processing

The CORE Eligibility & Enrollment Solution simplifies your eligibility and enrollment processing through consolidated automation into a single application.

CORE Loans Management

The CORE Loans Management Solution can completely eliminate manual paper handling and document processing steps of loan management.

CORE Distributions Processing

The CORE Distributions Processing helps streamline the document and information flow of distributions, a critical revenue center for your recordkeeping or plan administration organization.

COREDC® End-to-end Recordkeeping

The COREDC® Recordkeeping Platform is designed to manage plans with over a million participants without compromising on performance.

CORE Mapper

The retirement plan industry desires for clean data. However, data management in the industry is not easy. The Retirement Plan Providers have to manage data in and out from Payroll provider, Investment Manager, Advisors, Custodians, and others who use a wide variety of sources and diverse file formats.

mutual fund accounting software

Transform your back-office operations with our fund accounting solutions

Cost pressure, regulatory demands, and the need for digital transformation are constant challenges for fund administrators, asset managers, and asset owners. If you’re looking to transform your back-office operations, Linedata offers a range of best-in-breed fund accounting software for traditional and alternative fund administrators, insurers, asset managers and pensions.

Our award-winning investment accounting platforms have been trusted for decades by leading third-party administrators (TPAs), as well as asset managers and asset owners that handle their fund administration in house.

Over 100 organizations across 20 jurisdictions use our fund accounting systems to service assets of over $3 trillion. We’ll help you select the right solution for your operational requirements.

Linedata Icon recognized as best-in-breed fund accounting platform

Fund Accounting solution benefits

Futureproof your fund accounting

Replace risky, time-consuming manual processes with efficient straight-through processing (STP). Our proven technology and innovative user interfaces will help you automate back-office workflows, manage costs, and mitigate operational risk to achieve operational excellence.

Achieve operational excellence

Recent events have demonstrated the ability and need to change longstanding ways of working. There’s never been a better time to drive automation and take meaningful steps on your digitalization journey. Ask us today how we can help you transform your back office.

Choose the best platform for your needs

At Linedata, we offer global investment accounting systems with the flexibility to address local requirements. Many of our experts have industry backgrounds and can design efficient workflows and detailed reporting to address your operational, regulatory, and investor requirements.

Best-in-class global fund accounting solution for fund administrators, institutional asset managers, and insurance, pension, and mutual funds.

Fund accounting software for your every requirement

Linedata Icon

Award-winning fund accounting platform with UK focus

Linedata Icon is a global fund accounting platform that provides robust accounting functionality, integrated business process management (BPM) and a web-based user interface. Advanced automation, data visualization, customized dashboards, and flexible reporting make a best-in-class solution for a broad range of investment accounting requirements.

Used by leading global and regional players in the UK, continental Europe, and Asia, Icon’s advanced pricing module incorporates a corporate capital gains tax (CGT) engine that provides complex tax calculations (including deemed disposals) in line with UK law, making it particularly well-suited for UK accounting requirements.

Linedata Mfact

Best-in-class fund accounting platform for alt funds

Linedata Mfact is a global fund accounting platform used in major financial centers, including North America, Europe, Asia, the Caribbean and other offshore markets. Its multi-share class, multi-manager, multi-tiered fund structures and integrated GL make it a great fit, regardless of location.

Mfact offers strong, flexible reporting options, with inquiry and report views via a secure web portal, enabling you to provide superior service to your clients. Its flexible, integrated General Ledger allows for out-of-the-box compliance with local and international accounting standards. You’ll benefit from robust controls and accuracy through exception management and process and event monitoring.

Linedata Chorus

Insurance and pension fund administration solution

Linedata Chorus is a leading insurance and pension fund administration solution for the French market.

As a SaaS solution, it provides complete coverage of cash and derivative instruments, ensuring real-time position keeping and compliance with multi-standards accounting (IFR, Solvency II, GAAP, and local GAAP).

Linedata Admin Edge

Hosted fund accounting and transfer agency platform

If you need an all-in-one fund administration solution, Linedata Admin Edge is your answer. For institutional, hedge and alternative funds, it provides fund accounting, investor administration and P&L allocations, plus a web portal and customized reporting in an affordable, integrated package.

Enjoy the benefits of Admin Edge without installing any hardware or software at your premises. Linedata pioneered the hosted delivery of asset management applications over 15 years ago and we remain experts in the field.

Linedata Optima

Fund administration hub for digital transformation

Linedata Optima, in combination with our fund accounting software, provides a modern fund administration hub to digitally transform and scale your back-office operations. Optima’s exception-based approach lets you focus on solving problems rather than trying to find them.

Instead of having to conduct checks by printing and reviewing lengthy reports or hunting through numerous onscreen alerts or pop-ups, Optima automates controls and notifies you when action is required. Add new funds without adding staff or seeing a linear rise in cost and unlock data insights with advanced analytics and graphical management dashboards.

Linedata Icon

Award-winning fund accounting platform with UK focus

Linedata Icon is a global fund accounting platform that provides robust accounting functionality, integrated business process management (BPM) and a web-based user interface. Advanced automation, data visualization, customized dashboards, and flexible reporting make a best-in-class solution for a broad range of investment accounting requirements.

Used by leading global and regional players in the UK, continental Europe, and Asia, Icon’s advanced pricing module incorporates a corporate capital gains tax (CGT) engine that provides complex tax calculations (including deemed disposals) in line with UK law, making it particularly well-suited for UK accounting requirements.

Linedata Mfact

Best-in-class fund accounting platform for alt funds

Linedata Mfact is a global fund accounting platform used in major financial centers, including North America, Europe, Asia, the Caribbean and other offshore markets. Its multi-share class, multi-manager, multi-tiered fund structures and integrated GL make it a great fit, regardless of location.

Mfact offers strong, flexible reporting options, with inquiry and report views via a secure web portal, enabling you to provide superior service to your clients. Its flexible, integrated General Ledger allows for out-of-the-box compliance with local and international accounting standards. You’ll benefit from robust controls and accuracy through exception management and process and event monitoring.

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