Utilities

QuickBooks Utility | CarveOut Utility

 

QuickBooks Utility

“The CSSI QuickBooks Utility allows users to efficiently import invoices and payments into the system. Management fees and payments can be read from your portfolio management system such as APX® or Axys®. Fees can also be read from other systems such as revenue center.”
Trevor Keast, CSSI Senior Consultant

QuickBooks® 2.1 management fee utility allows an Axys® user to post fees and/or payments directly to QuickBooks®. During the posting process the utility creates any new customers, creates invoices and receives payments. A fee reconciliation process displays exceptions between the two systems. Accounts can be linked to existing customers in QuickBooks® or automatically created as new customers in QuickBooks®. Existing Axys® data can be used to populate any field in QuickBooks®, including custom fields.

Product Sheet Download:

Buying Points:

  • Creates new customers in QuickBooks.
  • Processes receivables in Axys®; to payment receipts in QuickBooks®.
  • Creates a Compare Report for auditing results.
  • Custom Axys® fee payment report included.
  • Custom Axys® modified billing report included as part of base cost.
  • Custom Axys® compare report.

 

CarveOut Utility

“The Carve Out Utility allows for the complete rerouting or the shadowing of any transaction based on portfolio code/class/type/symbol combinations to other portfolio codes. The Utility also includes 4 custom reports that help assist in the re-balancing of cash and maintenance of the carved out portfolios.” Dale Honabach, CSSI Senior Consultant

CSSI’s CarveOut Utility can be used by GIPS compliant companies that are affected by the 2010 rule changes for cash allocation. Currently companies have been able to maintain one account for multiple composites and then split out the assets and allocate cash accordingly. Under the new rules, the assets need to be maintained in separate accounts and have their own cash allocation. The CarveOut Utility gives you the ability to do this without setting up additional accounts at the custodian level.

CSSI’s CarveOut Utility works within the portfolio management system. It splits the assets on a daily basis and can be incorporated into your current process. It also gives you the option to shadow accounts.

Product Sheet Download:

How does it do it?

Using three processes:

  1. Rules mapping tool to split assets from one account at the custodian level to multiple accounts on the portfolio management system.
  2. Custom reconciliation report to roll up individual accounts into a combined account for reconciliation purposes.
  3. Re-balancing process that can re-balance cash on a daily or monthly basis.

What else does it do?

Gives you the ability:

  1. To split:
    • Expenses.
    • Management Fees.
    • Cash Receipts.
    • Cash Disbursements based on Allocation Settings.
    • Split Interest on Cash based on current actual balances.
  2. To Check:
    • Cash Allocations settings to make sure they total 100%.

How easy is it to set-up?

  • Included in the purchase price is a WebEx installation of the product by CSSI.
    Note: This does not include mapping, process review or training.

To set-up and use effectively, individuals will need to understand:

  1. The portfolio management system reconciliation process.
  2. Label management.
  3. Composite structure and rules.

Typical Daily Process:

  1. Download transactions and positions from data exchange.
  2. Translate transactions and positions in Dataport.
  3. Export Files.
  4. Run CarveOut Utility on transactions and positions blotters.
  5. Import Files.
  6. Run custom CSSI reconciliation report.

 

 

Other CSSI Services

  • Axys®/APX® Custom Quarterly Report Packages – CSSI creates custom quarterly report packages that meet your specific layout and data needs.
  • Axys®/APX® Custom Billing Reports – CSSI creates custom billing reports that handle customers’ complex billing needs.
  • Axys®/APX® Custom Operations Reports – CSSI creates custom reports to help customers with their operation needs.
  • Axys®/APX® Consulting Services – CSSI assists firms by delivering customized consulting services to increase the overall utility of their systems.

How Do I Learn More?

Contact Michael Herrera at to learn more about how CSSI can assist your firm with any and all of your Advent needs.