Whether it’s paying bills, recording organizational expenses, charging costs across companies, reporting to the principals, or just performing a bank reconciliation, Penny™ takes care of it all.
Specifically designed for investment management companies, Penny integrates a complete general ledger package, an accounts payable package (including built-in check generation), and reports for both the company and individual levels.
Penny's™ instantaneous allocations provide detailed reporting once the entry is posted, allowing you to permanently banish spreadsheet sprawl.
Comprehensive Ledger Reporting
- Full financial reporting - trial balance, income statement & balance sheet.
- Consolidations - on-the-fly reporting for both companies & individuals.
- Capital reports - for financial state reporting to owners.
- Detailed audit trail - every revision is stored.
Flexible Allocations
- Participating members - date-sensitive allocations.
- Companies - automatically allocate P&L among companies.
- People - automatically allocate P&L among owners.
- Alternative basis methods - use %, square footage, workstation, etc.
Accounts Payable Module
- Vendor & invoice tracking - produce aged payables and 1099 reports.
- Disbursements - process and print checks directly from Penny™.
- Cash reconciliations - track against bank statements.
- Journal entry templates - for automatic or manual input.