Investment accounting software differs from regular accounting software due to its ability to handle the complexities of managing financial instruments such as stocks, bonds, and derivatives. In particular, the Canada Revenue Agency requires capital gains to be calculated on the basis of ACB – Adjusted Cost Base.
Compared to FIFO, ACB adds the complexity that you need to automatically adjust the cost base of your holdings with transactions. This gets particularly difficult when you own the same stock across multiple custodians. Our technology has been doing this successfully for 25 years.
Yes. Wealth Write.Up integrates nicely into the workflow of Caseware, Taxprep, and other packages to help prepare financial reports. and final tax returns.
Yes. Wealth Write.Up’s advanced transaction entry capabilities allows for accounting staff to keep track of investment activities throughout the year to allow for regular preparation of reports.
Wealth Write.Up is designed to simplify the management and tracking of your investments and expenses. With Wealth Write.Up, you can effortlessly monitor the performance of your investment portfolios, keep track of expenses associated with each investment, and generate comprehensive reports for in-depth analysis. This empowers you to make informed decisions, refine your investment strategies, and maximize your returns.
Wealth Write.Up offers numerous benefits for financial reporting and compliance. Its multi-file functionality simplifies reporting across multiple entities, while its robust reporting features generate precise and thorough financial reports, ensuring adherence to regulatory standards. Additionally, its multi-currency capabilities automate currency conversion and exchange rate calculations, providing transparency and accuracy in managing global investments.
Yes. Wealth Write.Up is highly scalable, making it ideal for businesses looking to grow and expand their investment management operations. Whether you are a wealth management firm, a family office, an accounting firm or an investment fund, Wealth Write.Up’s software can handle the complexities of managing and tracking investments at scale. Wealth Write.Up’s investment sub-ledger calculates a weighted average share price for a particular investment based on your buying and selling activity, giving you a standard measurement by which to easily compare your investments.
With Wealth Write.Up, you can see detailed insights into the performance of all your portfolio companies at a glance or take a deeper look at the performance of one individual company or entity.
Wealth Write.Up’s multi-custodian accounting software is designed to streamline the process of managing financial data across multiple custodians. With Wealth Write.Up, you can easily manage complex transactions, expenses, and investments across different custodians, providing you with a comprehensive view of your financial transactions. Wealth Write.Up ensures accuracy, efficiency, and transparency in your multi-custodian accounting processes.
Wealth Write.Up uses daily average exchange rates from the Bank of Canada in real-time and can handle multiple currencies.
All broker transactions are automatically posted to the general ledger. Banking & adjusting journal entries can also be recorded. An unlimited number of general ledger accounts can be set up in Wealth Write.Up. Wealth Write.Up generates financial statements in both standard & comparative formats.
Wealth Write.Up handles over 40 different types of broker transactions as stock splits, spin-offs, security name change & trust unit distributions. All broker transactions can be viewed, edited or deleted.
Wealth Write.Up handles cash transferred between brokers, between banks & between brokers & banks. Wealth Write.Up calculates & records the foreign exchange realized on cash transfers between Canadian & US brokers & banks. Wealth Write.Up tracks the number of units & the adjusted cost base of each security transferred between brokers.
Wealth Write.Up produces two types of marketable securities reports.
Both reports can be displayed in both Canadian & US currencies.
By entering the maturity date, interest rate & frequency of interest payment, Wealth Write.Up automatically calculates accrued interest receivable based on the ending date selected by the user.
Wealth Write.Up prompts the user to record dividend income as either Canadian or foreign source and to record the applicable withholding taxes.
Wealth Write.Up calculates realized capital gains using two methods: