Taxes – K-1

Generate Form: create the government form and supporting schedules.
Create PDF: configure whether to write-protect the PDF or allow for modification in order to insert additional information.
Single or Batch Files: output a separate file for each investor or a single file for the fund.
Exports: map tax lines to GoSystem^® groups and cross-reference to Prosystem^® ratios.
Directed Gains (stuffing): Allocate book tax differences to withdrawing partners. Fill up/down. Full or partial withdrawals.

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Tax Map

Account information mapped to specific tax lines to create K-1s.
Tax Adjustments

Adjustments can be made at the investor or fund level.
Tax Allocations

Define custom allocation methods to be used by the tax calculation.
Fund Tax Calculation

Calculate the taxes at the fund level and export to CCH Prosystem.
Investor Tax Calculation

Calculate the investor's K-1 information.
K-1 Forms

Export to PDF the investors' actual K-1 forms.

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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