A financial accounting and reporting software package designed to generate financial reports
Deloitte’s Financial Technology team, a leader in the financial software solutions market, has developed Solvas | Accounting, a dynamic and flexible financial accounting and reporting software package designed for investment managers and fund administrators. Solvas | Accounting can generate financial reports for portfolios of financial instruments. The system supports unlimited reporting entity configurations, provides multicurrency support and allows for various accounting methodologies.
- Solvas | Accounting allows various accounting methodologies including fair value and amortized cost.
- Multiple accounting methodologies may be applied to the same portfolio to support reporting on different accounting bases, such as IFRS and US GAAP.
- The system provides robust handling of back-dated activity related to closed periods.
- Solvas | Accounting has the flexibility to accommodate different accounting period durations, including support for quarterly, monthly, weekly and daily closing.
- Level yield, straight-line and other custom amortization methods are supported.
- The reporting entities in the system have their own customizable chart of accounts and can include one or more portfolios.
- Each reporting entity provides independent sequential processing based on its own reporting calendar.
- Solvas | Accounting offers a configurable dashboard.
- The system generates various financial reports including:
- Statement of assets and liabilities / balance Sheet
- Statement of operations / income statement
- Statement of changes in net assets
- Solvas | Accounting is designed to accommodate complex financial instruments, such as syndicated bank debt or mezzanine loans.
- The system allows the presentation of financial reports in different currencies with an automatic, separate calculation of the foreign currency translation gain/loss.
- The information in the system is preserved at the most granular level, allowing drill down from aggregate account balances to the underlying individual journal entries.
Built-in work-flow manager
- The workflow manager includes pre-defined workflows for setup, on-demand processes and recurring activities.
- Business users can modify pre-defined workflows or create new workflows to support various procedural or approval needs.
- The system supports task assignment to individual users.
- Solvas | Accounting can be implemented as a standalone accounting system or integrated with an existing general ledger.
- While Solvas | Accounting can import transactional data from any portfolio system, Solvas | Accounting is designed to be integrated with Deloitte’s Solvas | Portfolio™.
For more information about this product, or to arrange a demonstration, please contact:
Deloitte & Touche LLP
+1 212 436 5387
Deloitte & Touche Projects SARL
+44 20 7303 7145
As used in this document, “Deloitte” means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.