Today, hedge funds and investment firms manage complex reports of shareholder and partnership accounting using manual spreadsheets and documents from disparate groups and units to manage and allocate funds. Penny helps streamline this complexity by unifying partnership and shareholder accounting into one centralized, automated system that generates reports in minutes.
Penny helps firms automate data entry, create instant reports and seamlessly integrate with other accounting systems. New features and capabilities from Penny include:
â¢ Expanded investor reporting including enhanced statements;
â¢ Extended performance calculations to include inception, monthly, quarterly and yearly-to-date returns, both fiscal and calendar;
â¢ Share equalization for offshore corporate feeders;
â¢ Expanded supplemental tax schedule including custom calculations and line reporting; and
â¢ Direct integration with CCHâs ProSystem, a leading solution for tax, auditing and accounting, for easy electronic filing.
âPenny is well received by customers because they easily recognize the benefit of creating a comprehensive checks-and-balances system for administrators and investors,â said Ron Kashden, president of TKS Solutions. âPennyâs new features help companies extend their market value and better manage their funds by addressing key issues associated with shareholder, partnership and tax accounting.â