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Solvas|Accounting™

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.

Accounting functionality

  • 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.

Presentation capabilities

  • 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.

Implementation

  • 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:

Hillel Caplan 
Partner 
Deloitte & Touche LLP
+1 212 436 5387 
hcaplan@deloitte.com

Chris Pruszko
Senior Manager 
Deloitte & Touche Projects SARL
+44 20 7303 7145
cpruszko@deloitte.com

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.

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