Månedsarkiv: februar 2014

investment management solution

Investment Management Solutions: Quicken vs. QuickBooks

Using investment management solutions is a great way to track your spending. Whether you are an individual or a small business, you can benefit from seeing where your money goes. The two most popular investment management solutions are Quicken and QuickBooks. Both these can complete basic accounting functions. They can also be used as a checkbook register. Both investment management solutions integrate with your online accounts, making data entry easier. Each can categorize your spending to make for easy tax filing and record keeping. These investment management solutions can also make generating reports and graphs simple with a click of a button.

Usability – Quicken is easier to use than QuickBooks. It has fewer features, so there are fewer things to learn. This makes it ideal for personal finance or small business. QuickBooks might be difficult to learn, but it has an extensive Help library and customer service available to help ease any concerns.

Personal finances – Quicken has features specifically customized for individual users, it can also track stocks and other investments. QuickBooks does not have these features because it is geared toward business owners.

Forms – Between these two investment management solutions, if you need more forms like customer receipts, purchase orders and customer statements, go with QuickBooks. Quicken only has standard checks and invoices.

Payroll and taxes – QuickBooks is ready to do payroll right out of the box. With Quicken, you should purchase a separate software add-on to have payroll capabilities. QuickBooks also helps you record and file payroll tax form.

Users – Quicken only comes in single-user interfaces. QuickBooks allows for multiple licenses so several users in the office can have access to the investment management solution. Security features in QuickBooks also allow you to control over who sees what information.

Inventory – It is only QuickBooks that can track inventory. This investment management solution has built-in inventory capabilities, making it a necessity for any business that carries physical stock.




What is a Fund Administration System?

Pension funds usually oversee large pools of money on behalf of hundreds or thousands of plan members counting on those assets for retirement. A fund administration system implements a plan structure, educations employees on investment options and benefits, and organizes some of the sensitive information inherent in retirement plans. Pension fund administration system can be accomplished by a third-party firm, or it can be handled by a human resources team.

Fund administration system manage the details of a plan, including the implementation of the investment choices for plan members. Those investment funds might be decided upon by an internal pension investment committee and a consultant, but it is the job of the administrator to education plan members and incorporate those fund choices into the plan. The fund administration system administrator keeps track of plan member information and calculate benefits on behalf of those participants.

A third party fund administration system might also give other services to the pension plan. Some financial conglomerates offer asset management and investment consultant services, and certain pensions prefer this streamlined approach. One pension can use one fund administration system for all three tasks, although each it handled out of a different department at the financial firm. Internal pension administration is handled out of human resources or the treasury department depending on how fully staffed an employer is.

One public pension usually uses a defined benefit structure as opposed to a 401k setup. In a defined benefit plan, the plan sponsor or employer assumes most of the risk and is responsible for investment decisions. In a 401k defined contribution structure, employees make investment choices and shoulder more risk. Some public plans are pushing for a 401k structure to reduce financial burdens, including a group of plans in Florida. The fund administration system administrator does not support such a transition.

asset management

3 Tools for Financial Services Risk Management

Financial services risk management can be a complicated aspect of managing a business and producing successful projects. Computer software has been designed to cut down on the guesswork associated with this process so businesses can focus on creating effecting growth strategies without getting bagged down in the details of daily problems. Here are 3 financial services risk management to help you.

Deltek WelcomRisk

Deltek is a US technologies company centralized in Virginia. It has been producing software since the 1990s, serving more than 12,000 business clients. the WelcomRisk Financial Services Risk Management system has many features, including risk management framework that allows a company to design a risk management plan based on its own individual strategies of managing uncertainty and problem areas. this financial services risk management software also recommends actions and paths to mitigate risk, like avoidance acceptance and transfer, based on the information fed in to the system. WelcomDisk handles every step of the risk management process from identification and planning to assessment, response and reporting.

The Risk Matrix

The Risk Matrix is a financial services risk management software tool developed by Mitre Corporation, a nonprofit organization that works with research and development projects for various government departments. This software is a free download and is designed in Microsoft Excel so users are familiar with the interface. This financial services risk management tool is able to rank risks based on user-centered information as part of a baseline for risk management which recommends strategies to mitigate risk or avoid it altogether. The Risk Matrix also gives a tool to continuously evaluate program risks throughout the project to make users aware of any potential pitfalls down the road.

RiskTrak International

RiskTrak International creates software for all phases of the business financial services risk management process. Software tools work as a stand-along platform in the identification, analysis and estimation of risk in terms of a corporation as a whole or for an individual project working in a business. The RiskTrak financial services risk management program aids business in creating profiles that track risk, while allowing them to work in company established parameters. This adds versatility to the software tool so it can be used across multiple projects and departments.