If you are looking for the Best Accounting Software for Investors and Financial Advisors, and interested in using and comparing the best accounting software available to manage your portfolio and personal finances, this post will give you a comprehensive comparison of the top Personal portfolio and Personal Accounting software solutions.
So, here are the best accounting software for investment.
Altair
If you are an investment manager looking for a solution for portfolio management, then Altair is the option you might be interested in. It is a great software well-recognized because of its stable performance so definitely you can rely on this software without any doubt.
On top of that, we should also mention the electric and mechanical simulation tools that come with this investment accounting software. You can always use these tools for CAE and take better care of your trades.
Important Insights
- You can consider this a reporting software and work best for investment managers, insurance companies, private client brokers, and trust agencies.
- It will enable you to handle complex securities comfortably as well as achieve reduced risk for smooth operations.
- With strong IFRS reporting and flexible architecture, Altair can deliver anything you require. You will also find the multi-currency investment strategies useful.
- Altair has included exception handling and workflow management for its users to facilitate the control of operational risk.
- Supports for almost any financial instruments such as marketable securities, loans, term deposits, warrants, bonds, and so on.
- Besides, the fund managers or the traders can easily handle multiple accounts as it supports transaction methods depending on the accounting principle.
BEST OVERALLQuickBooks Online
QuickBooks Online was chosen as the best overall because of its reputation, usability, and strong customer support options. Business owners can access their financial reports and collect payment from customers easily using the app or website.Pros
- User-friendly and customizable
- Scalable for business growth
- Full-service mobile app
- ProAdvisor program for accountants and bookkeepers
- Quickbooks Community forum for support
Cons
- Monthly subscription required
- Limitations on the number of users
QuickBooks Online, owned by Intuit, is the leader in accounting software for small businesses. It was founded in 2001 and has over seven million customers. There are four levels of online cloud-based software available:
- Simple Start ($25 per month)
- Essentials ($50 per month)
- Plus ($80 per month)
- Advanced ($180 per month)
QuickBooks offers a 30-day free trial. Alternately, accountants who are registered with QuickBooks are able to offer their clients preferred subscription pricing. The fee varies, depending on whether the client or the accountant is billed. All plans can be used online through a web browser and on the QuickBooks mobile app.
The Simple Start plan is a great entry point for basic small businesses. As a business grows and has more needs, it is easy to upgrade to the next level. The upgraded levels offer features like more users, bill management, time and project tracking, inventory, more customizable reporting, and more automation for efficiency.
QuickBooks Online also offers three levels of a payroll add-on, which can be accessed on the same dashboard as the accounting software. Additionally, there are third-party apps that can integrate with QuickBooks Online to share data seamlessly.
The ProAdvisor Program allows accountants and bookkeepers to participate in QuickBooks training courses and become a certified ProAdvisor. Customers can search the ProAdvisor Directory to find someone in their area for accounting assistance. There is also a QuickBooks Community forum where users can ask questions and find answers to common questions.
Assetic Accounting
It is one of the top-rated software available out there, especially where we are talking about investment accounting software. If you are looking for flexibility and control, you can certainly check the features of this excellent software.
There are many investment managers who are using this software because of its stability and robust performance. Besides, it can suit any organization and work well for almost any requirement. As a result, they have started their journey back in 2006 and established themself as a powerful player in the competition.
Important Insights
- This software can enable you to achieve transparency in your investment processes. Assets portfolio management becomes really simple once you start using this.
- You can integrate Assetic with your organization at a level where you can gain more insights and extract detailed information.
- Professionals can enjoy the advantage of financial reporting to improve efficiency. It can help organizations to regulate compliances as well.
- It supports a wide variety of accounting methods, which makes it a splendid choice. In addition, you will get a seamless performance while validating data from the Assetic Assets software.
- It comes with in-built asset transactions features which keep the system secure and safe from hackers.
- Besides, features like life-cycle management, periodic revaluations, integration with finance will take you to the next stage of component-level accounting.
Backstop Solutions Suite
This software can be considered the solution to all problems institutional allocators may face in their entire lifetime. When this product first came out in the market, it took attention with the easy-to-use CRM/RMS right away. They can be your brilliant partner as you can take the help of their excellent client service and support teams. They can enable you to streamline due diligence and monitor the performance of your portfolio effectively.
Important Insights
- They have consistently invested in enhancing the product quality you will see through Solutions Suite’s performance and features.
- It comes with their new service known as IntellX to make the collection of documents simple. You can even retrieve any sort of documents as well.
- Designed to make time-consuming tasks enjoyable and allow you to focus more on the processes for rapid and easy access.
- You will discover everything required to facilitate day-to-day business success. Besides, a robust security program is also there that takes client’s security seriously.
- Allows you to make the most informed decisions as you use critical information collected from its comprehensive data integration solutions.
- However, this software is an all-in-one solution for the investor and is equipped with research optimization tools, a web-based investor portal, collaboration tools, etc.
AXYS
AXYS is a great addition to this list of accounting software designed for investment tracking. However, unlike any other software on this list, it takes a modern approach to automate portfolio reporting and accounting.
Besides, with the help of a turnkey solution, you will need minimal support from IT. It will help you to focus on relationship-based businesses to make wealth management simple. If you are an asset manager, then this is the tool you may be interested in checking.
Important Insights
- It comes with GIPS compliant performance measurement, while you will also find this software flexible in tax treatment.
- With advanced reporting and the automated reconciliation of trade information, AXYS will be a great fit for any financial organization.
- Also, if you want to dig deeper to measure the performance of key metrics and take actions accordingly, then AXYS will be a great solution for you.
- This software supports a wide array of securities. And you can also take care of fixed income alongside cash equities through its useful features.
- Users can group multiple reports, graphs, and objects on one page. Also, to make it ready for the presentation, you can customize the report to any extent.
- Equipped with multi-currency capabilities where you can calculate the international withholding tax and corporate records processing as well.
Cheetah Wealth Management
As an investment accounting software Cheetah takes a straightforward approach to enable you to handle wealth management effectively. It offers all the tools you may need to manage your asset and is trusted by over 250 clients to justify its stable performance at the enterprise level.
The developers of this software have tried to render a significant experience by improving every aspect of the current accounting system. Besides, it one of the few solutions in the industry that offers such intuitive and efficient mobile solutions.
Important Insights
- This software is a great example of how modern software should use the technologies to deliver a scalable, flexible, and extensible solution.
- You can take advantage of the wide variety of addons available out there, such as accurate data exchanges that can reduce the time for licensing needs.
- Comes with integrated Moody’s Ratings, GICS and performance Info, and the record of the historical distribution.
- The data collection and storing process is simple as you can use Cheetah API to exchange or update data in your Cheetah database.
- If you are looking to improve the end-client experiences and eliminate data monetization requirements, Cheetah will be a perfect product.
- Suitable for business process outsourcing can reduce the operational cost and mitigate the risk of employee loss with the best practices.
EAS Expense Allocation System
You will find many solutions that can help to manage funds and finances. But IntegriDATA Expense Allocation System is undoubtedly the leading allocation software for the private equity and hedge fund managers you will find in the market now. Ensuring compliance can be a major headache for any company, and this tool can save you from this hassle. Besides, this tool is designed to deliver improved accuracy as well as increase efficiency to a great extent.
Important Insights
- You will find everything, starting from collecting, approving, and allocating expenses within the system.
- The dashboard is interactive and offers all the modern features required to produce highly informative reports and gain insights.
- EAS comes with accounts payable, T&E, and time tracking features to let you merge expense management from just one place.
- Automated allocation can help eliminate risks and reduce operational time. In addition, you can enjoy the sharing percentage calculations that use AUM, NAV, and so on.
- Besides, digital fund agreements and support for deal allocations and reallocations are also there. So you can also expect to get industry-leading support from them.
- It comes with robust audit reporting that can enable investors or find managers to monitor every allocation and gain full control over the performance.
BEST SOLUTION FOR INDIVIDUALS Quicken
Quicken is the best solution for individuals because of its robust features. This software is scalable and can support a household’s financial needs as they grow more complex over time.
With Quicken, a household can manage and pay bills, track retirement and investment accounts, and design customized budgets. There is also a rental property management feature that allows individuals who own rental properties to track rental income and expenses. Pros
- Strong reputation
- Bill pay feature
- Retirement planning
- Robust budgeting and investment-tracking tools
Cons
- No third-party app extensions like Quickbooks
Since 1982, Quicken has offered management and tracking tools that allow individuals and families to be financially organized and prepared. Quicken can be used for household budgeting and income/expense tracking, which can help individuals prepare for tax season.
There are three to four levels of software plans available, depending on whether you have a Mac or Windows operating system:
- Starter for Mac and Windows ($35.99 per year)
- Deluxe for Mac and Windows ($51.99 per year)
- Premier for Mac and Windows ($77.99 per year)
- Home & Business for Mac ($103.99 per year)
A 30-day free trial is available. The software is downloaded onto a computer and data is stored locally, however, most key features can also be accessed using a web browser or the Quicken mobile app.
The Starter plan allows users to track and categorize transactions and manage bills. The more advanced plans add features such as investment, loan, retirement tracking; bill pay; and even basic business invoicing and tracking. The business features can be accessed through the Home & Business plan and can run Schedule C and Schedule E tax reports and manage lease terms, rental rates, and security deposits.
Conclusion
The right accounting software for managing your investment portfolio is essential if you want to make the most of your money. But many investors find themselves confused by which software to use.