Hedge Fund Accounting Challenges

As a controller or CFO, how many times have you spent countless nights trying to combine your Excel spreadsheets from QuickBooks and verifying the data’s accuracy by checking it many times? How many hours did you spend trying to find a small error on one Excel spreadsheet so you could balance your numbers? If this has happened to you then Excelor may be a fit for your needs.  We can virtually eliminate all of these issues.

Issues of Hedge Fund Accounting 

Below are some of the complaints we hear from Hedge Fund controllers and CFOs.

  • Consolidations– With QuickBooks, a user creates multiple Excel spreadsheets for each company to consolidate. This is time consuming and leaves room for errors. Microsoft Dynamics GP can combine companies on a Microsoft SQL backend and everything is consolidated in real time. In addition, it integrates well with other systems that use Microsoft SQL. Microsoft Dynamics GP also allows for rollups. Users also see the parent child company relationship as required. This helps when firms have multiple funds, multiple locations and multiple entities.
  • User Security– QuickBooks doesn’t have good security capabilities for finance related firms. This can cause compliance concerns. Microsoft Dynamics GP provides a GAAP compliant security trail with timestamps to show who entered the system, when they entered and what changes they made. It also is flexible and allows users access to single companies with minimum access or many companies.
  • Multi-Currency, Multiple Currency- With Microsoft Dynamics GP, users can show country specific currency and then roll up to USD. This helps with entities outside of the USA.
  • Multiple Locations, Multi-Countries
  • Multiple Funds
  • Multi-Entities, Multiple-Companies

Our Solutions for Hedge Fund Accounting

The system is capable of handling user security, multi-funds, multi-locations, multi-countries, multi-entities, and multicurrency while also achieving appropriate standards of control, compliance and efficiency. In addition, our team consists of accountants and finance majors with software expertise and experience who can build the correct chart of accounts for your industry. This is the most important part of accounting software.

How does Excelor do this? 

For more information please contact us.

*Due to the nature of our industry, Excelor has non-disclosure agreements with all of our clients. Your email is considered confidential and private.

Firm Examples

  • $2B AUM Hedge Fund contacted Microsoft (MSFT) regarding frustration and lack of performance around QuickBooks. MSFT contacted Excelor to help. Excelor’s solution was to implement Microsoft Great Plains and configure it to their needs around reporting and consolidation requirements. Now the client is able to get a global snapshot of their current holdings and is able to pass their audits with ease.
  • $9 B Asset Management Firm was having trouble generating basic reports due to QuickBooks being overtaxed. Excelor designed a system that has institutional strength and is able to add assets, employees and even launch additional Funds with out the worries of out growing the system. The Client is now also able to generate reports to investors and principals; in essence getting a snapshot of the business, which is critical as fund and investor demands grow.