Accounting Features

Robust Accounting

No matter the number or diversity of entities, nor the range of investments, our software provides a complete accounting solution for our High Net Worth clients and the professionals who support them.

General Ledger

Posting and reconciling the day-to-day transaction activities for a High Net Worth investor can be a laborious and time-consuming process. Unlike other cumbersome systems, our general ledger is fast and simple to use, offering class-leading features not found in other software packages.

With the Forest platform you can:

  • Track assets, liabilities, expenses, income and equity accounts.
  • Manage bank, credit card, and brokerage accounts.
  • Handle invoicing and bill payment.
  • Use a fully customizable chart of accounts.

Portfolio Accounting

Our software can track marketable securities, private equity, venture capital, oil & gas holdings, real estate, collectibles and everything in between. Our investment accounting features can also aggregate results from multiple managers and portfolios across different entities.

Forest allows you to:

  • Track marketable securities, mutual funds, bonds and other marketable investments. Our data retrieval features update market values and download transaction activity direct from your financial institutions.
  • Account for private partnerships, hedge funds, private equity, venture capital and other alternative investments. With this data, the reporting features will provide a wealth of insight into your clients’ portfolios.
  • Real estate investments such as land, homes, and commercial property can also be revalued, depreciated, bought and sold within the system.

Check Writing

You can print checks from multiple accounts easier, more efficiently, and more cost effectively than ever before. Print MICR-encoded account and bank routing numbers, directly on blank check stock while including payment information such as payee and payor.

Trust and Estate Accounting

As our nation’s populace ages, unprecedented amounts of personal wealth will be transferred to the next generation. The majority of this wealth transfer will involve the use of trusts and estates.  The platform contains features tailored to meet the singular needs of fiduciaries, beneficiaries and trustees.  You can account for principal and income separately, while easily managing cash disbursements to vendors and beneficiaries. 

Partnership Accounting

Accounting for partnerships can present a complicated and confusing challenge. Our platform  helps you allocate distributions and generate financial reports for entities or partners. Use the platform to track each partner’s cost basis, tax basis and fair market value as well as each one’s share of the profits, even if that ownership percentage changes during the year.

Forest allows you to:

  • Allocate distributions to partners including income, expenses, and gains & losses.
  • Create reports for the partnership as well as the individual partners.
  • Track “inside and outside basis”, as well as each partner’s cost/tax basis and fair market value.

Intercompany Transactions

Our intercompany transaction function makes transfers, distributions and payments among your various entities a breeze. Instead of having to switch from one entity to another in order to individually record all of the related journal entries, our software allows you to record and allocate a transaction across all of the affected entities with a single entry.

The activities that can be streamlined include:

  • Payments made through operating companies on behalf of related entities.
  • Distributions to various partners in joint ventures.
  • Transfers of funds between entities.
  • Contributions by individuals to partnerships and foundations.

Private Foundation Accounting

The team at Forest Systems takes great pride in working with our clients who pursue philanthropic objectives. The platform can accommodate very well the special accounting requirements for private foundations. The comprehensive chart of accounts structure allows for separately tracking income and expenses, as well as assets, whether they are related or unrelated to the charitable purposes of the foundation.