Portfolio Accounting
WealthSpectrum provides comprehensive processing and accounting of the portfolio transactions and corporate actions.
WealthSpectrum supports a wide range of instruments including shares, mutual funds, fixed income, index and stock futures and options with comprehensive portfolio accounting for all of them all the way up to profit and loss account and balance sheet.
All the standard valuation and matching methods including FIFO, specific lot, highest cost, lowest cost, single average, double average and LIFO are supported. The selection can be made or changed up to security level within a portfolio.
Cash is tracked using trade and settlement date for bifurcation of available balance and payables / receivables.
Accounting engine supports accrual of interest, dividend, fees and expenses.
The corporate actions engine provides for automatic processing of corporate actions pertaining to holdings and cost basis, income and distributions across accounts while maintaining cost-basis continuity. It maintains the holdings and cost basis revisions with effective dates and also preserves the original transaction date for correct as-on date tracking and reporting.
WealthSpectrum offers 'Security in' transaction facility for client moving in the security into the portfolio management scheme. For performance measurement, the gain / loss prior to bringing in the security into the portfolio management scheme is accounted for separately while for capital gain accounting for the individual, gain / loss based on original date and cost of acquisition are computed
WealthSpectrum Accounting Engine provides unique capability of detecting back dated transactions and automatic reversal and re posting of all subsequent transactions including the global corporate actions. This facility helps in reducing the manual efforts and probability of errors due to manual changes. The system provides complete audit trail of all changes.
Transactions can be posted as and when they are received without waiting till end of day batch process. The accounting entries are reflected in-line with transaction posting making them available immediately on transaction posting.
Full set of books of accounts and reports are available including Profit and Loss Account and Balance Sheet, Trial Balance, Security Ledger, Holding Statement, Bank Book and Income and Expense Statements.