Over the past weekend, Archway released several enhancements to the ATWeb platform. While our client base has received formal communication and training as needed, we feel it is our obligation to highlight a few enhancements to our regular readers, prospects and partners. A subset of the enhancements include the following:
User Security – Reports – Clients taking advantage of more advanced ATWeb User Security functionality will notice two enhancements to user permissions required for generating reports in ATWeb. A summary of the changes is listed below.
Module Security – User Accounts are now required to have at least ‘View’ permissions within the corresponding Module in order to view/run reports. For example, a User Account generating the Open Positions by Security report (a Portfolio Module report), must now have Entity-level ‘Portfolio Management – View’ credentials and Entity-level ‘Reporting – View’ credentials. All reports are affected by this enhancement.
Entity Security – Report parameter screens containing Entity lists have been filtered to include only those Entities to which the User Account generating the report has access. For example, the Entity Scope tab on the Balance Sheet report will only contain Entities to which the User Account has been granted access. All cross-Entity, generally available reports with the Entity filtering capability will be affected by this enhancement. Custom reports will not be affected by this update.
Accounts Payable General Updates – Clients using the Accounts Payable Module will find the following enhancements:
Payment Cycles Indicator – A new Printed checkbox has been added to the middle pane of the Payment Cycle window When the Output Payment Cycle icon is selected for a given Payment Cycle, the checkbox will be flagged to indicate that a payment output, typically in the form of a check, has been generated by ATWeb.
Distributions to an Entity – An enhancement has been made to the Distributions process available through Accounts Payable to allow for the creation of bills for Distributions made to other Entities tracked within ATWeb.
Accounts Payable Workflow – Enhancements have been made to the Accounts Payable Module to integrate ATWeb Workflow Manager with Accounts Payable payment processing.
Workflow Manager is not required in order to use Accounts Payable in ATWeb.
Accounting Period Income Allocation – Distributions – Accounting Period income allocation logic has been updated to more accurately reflect the impact of distributions on Entity ownership. Distributions entered through the Accounts Payable Module will be factored into Entity ownership following a daily weighted average method, thus changing the allocation of income at the end of the period. As equity changes throughout the accounting period, the ownership percentages used to calculate income allocation during the close process will also change. Prior to this update, distributions had no impact on Entity ownership in relation to income allocation until the following accounting period.
Income Fee Calculation with Benchmarks – Users now have the ability to assign specific benchmarks to be used as a hurdle rate for Income Fee calculations. In order to use this functionality, a Synthetic Benchmark must first be created in the Security Master.
Asset-Based Fees Charged through Accounts Receivable – Clients using the Management Fee billing functionality through the Accounts Receivable Module will notice a significant enhancement to the Fee Tier configuration options.
Open Tax Lots by Portfolio – This report is no longer limited to being run for an Accounting Period Date. The enhanced report allows users to indicate any date for which to generate the report.
Open Tax Lots by Security – This report is no longer limited to being run for an Accounting Period Date.
Entity Ownership – This report replaces the Partnership Ownership report previously available in the Partnership Report Types category. Users will now find columns displaying:
> Beginning Equity balances
> Capital activity recorded through Cash Management and Accounts Payable Distributions
> Ending Equity balances
> Beginning Equity balances for the next accounting period
This report is now available in the Financial Report Types category of the Reporting Module and may be generated to PDF or Excel.
Period Balance – This report now provides the option to include withdrawals recorded through the Investor Module in the Ending Equity balance. Capital activity recorded through the Cash Management Module or through Accounts Payable Distributions is not dependent upon the Include Period Withdrawals flag and will always be displayed in the Additions/Withdrawals column.
Change in Profit and Loss – This report provides multiple category breakouts of income and expenses at the Security level for a user-defined date range.
Statements – Consolidated Statement by Profile Class – This report provides an account overview by Profile Class and leverages Security Classes to present overall asset allocation percentages.
Archway Development released seven (7) integration-related enhancements, including updates to current integrations and new integrations with the following data providers:
> Morgan Stanley (Prime Brokerage system)
> BNY Mellon (IAS system)
> Merrill Lynch (PBIG system)
About Archway Technology Partners
Archway Technology Partners is a global software company supporting the operations of private investment companies such as Hedge Funds, Fund of Funds, Family Offices, Multi-Family Offices, Fund Administrators and Venture Capital Funds. Archway’s flagship platform, ATWeb, is an industry leading on-demand enterprise software solution for the Investment Industry. ATWeb clients enjoy web deployed tools available 24/7. ATWeb is the industry’s only application that has successfully integrated a full G/L, investor relations, portfolio accounting software, fund accounting software, partnership accounting software, coupled with a full suite of financial modules including accounts payable, accounts receivable and budgeting – a true standard in one solution.