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50
TECHNOLOGY
QUESTIONS:
ACCOUNTANTS
INTRODUCTION:
50 TECHNOLOGY
QUESTIONS
Your role as an accountant is pivotal to your organization, yet you may find yourself bogged down by spreadsheets, manual data entry and errorprone reconciliation exercises. In an effort to improve your current accounting processes, youve begun researching integrated accounting, investment
management and reporting solutions. You and your team have likely drafted a specifications list a flexible General Ledger, bill pay functionality,
partnership accounting capabilities but how do you know which questions to ask?
To assist you in your research, weve compiled 50+ questions to help you measure the breadth of each wealth management solutions accounting
capabilities. Our suggestions are centered around core accounting features and functionality including General Ledger, Accounts Payable, Reporting, and
Portfolio, Partnership and Trust Accounting. By incorporating these questions into your due diligence process, you are able to compare solutions and make
recommendations based on your specific accounting and technology needs.
ACCOUNTANTS
DO YOU HAVE A
CUSTOMIZABLE
CHART OF
ACCOUNTS?
ACCOUNTANTS
ACCOUNTS PAYABLE QUESTIONS
1. Can you create a global vendor list?
a. Can you store multiple addresses for a single vendor?
a. Can you create a global payment cycle that prints out checks across
multiple entities?
2. Can you track cost and tax basis? Fair market value?
3. Can you automatically track amortization and accretion
for fixed income instruments?
ACCOUNTANTS
PARTNERSHIP ACCOUNTING QUESTIONS
1. Can you handle partnership accounting?
a. Aggregate?
b. Netting?
c. Layering?
ACCOUNTANTS
REPORTING QUESTIONS
1. What kind of reporting can be generated out of your
system?
a. Portfolio reports?
b. Performance reports?
c. Asset allocation reports?
a. Can you run a report which shows changes by user, transaction and
date?
TECHNOLOGY QUESTIONS
1. How is user security set up and maintained?
ACCOUNTANTS
CONTACT ARCHWAY
Archway - Indianapolis
9100 Keystone Crossing
Suite 830
Indianapolis, IN 46240