First Rate and KnowLedger join forces to support new and current customers with the transformation of custodian/bank data into Sage Intacct general ledger accounting platform.
Historically, investment data is transformed into a portfolio accounting system for transactional and performance data analysis. Many institutions in the market today only provide tax and accounting related management with a client. Since portfolio accounting and general ledger accounting are quite different in their business use, many firms need this information provided in both systems.
KnowLedger came to the market to provide the unique requirement to bring bank/custodian data into GL systems. This information is key for client relationships that manage a diverse need of accounting management across marketable and private equity investments. Historically they have served the family office space that has this requirement to see investments as a part of the business.
First Rate has been serving the investment community for more than 30 years with enhanced performance and client reporting for investment management institutions across the globe. Today First Rate represents more than 500 relationships and more than 2T in AUM.
Typically bank account data has historically been easy to be represented in general ledger systems and used for ACH, bill pay, and other transactions. However together, KnowLedger and First Rate, want to solve the unique challenges for accountants that need to see investment transaction data and have a full view of the accounting relationship of the client.