Load Fees - Penny Accounting Software

G/L: allocations; A/P; checks & wires; journal entries

Investor: partner; private equity; shareholder; transactions

Fees: incentive; load; management; redemption

Performance: benchmarks; fund estimates; investor quality; reporting

Taxes: aggregate; K-1; layering; schedules

Rate Types

Load fees can be based on a single rate or an incremental one.
Investor Roles

Load fees are tied to specific investor roles.
Journal Entry

Load fees are tied to specific investor roles.
Overrides

Override the calculated load fee in the contribution screen.

Fees - Load

Flexible Rates: charge on an index, a straight percentage, or a combination.
Expense or Deduct: incur the fee as a specially allocated expense or as a reduction of the contribution. Expenses can be spread across several periods.
User Overrides: adjust fees on a transactional basis.

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Why is our software called "Penny" ?: Because our founder - a CPA, former hedge fund CFO, and programming guru - was hoping to purchase an accounting package. But none of the existing fund accounting systems could handle balancing complex partnership accounts down to that last penny. So he created one that could.

Is it "I.T. Works" or "it works" ?: Actually, its both. After a 2 week installation, our first customer was running so smoothly he told us we should call the software "it works". We had a name, but happily adopted the sentiment as our tagline. The logo artist thought it was "I.T." - as in information technology - and a pun was born.

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