During a time when almost everyone is re-evaluating their priorities and strategies, families of high and ultra-high net worth are reflecting on...
Family Office Accounting Software
Accounting can be a challenge for family-owned businesses, especially if your portfolio includes multiple companies in differing industries. The right family office accounting software should effectively streamline financials and easily track and reconcile all of your information.
A trusted solution for your most valuable asset
Better financial reporting
Robust financial reporting tools allow you to compare entities and analyze trends within one company or across companies. The ability to easily create your own customized system of reports allows you to discover better financial insights and improve your bottom line.
With integrated tools like Microsoft Power BI, it’s easy to compare entities and analyze trends within one company or across companies. The ability to easily create your own personalized dashboards and reports allows you to discover better financial insights and improve your bottom line.
Ability to setup security access for your staff based on the companies or locations you want them to see down to the field attribute level. You can implement varying degrees of security measures and accessibility so each team member can view and utilize the information they need without unnecessarily accessing data or sensitive information.
Why Gravity for Family Office?
Your family office business is important to you because it not only represents your livelihood, but also your family’s legacy. To protect everything you’ve built, you need complete control over your financial data. By leveraging Gravity Software’s unique capabilities to optimize your multi-entity accounting process, achieve better reporting and analytics, and improve data security and access, you can save time and money while helping to ensure your family business is still going strong for generations to come.
"Any of you running multiple businesses across different industries, highly recommend Gravity Software. It is legit. Just made the change over from QuickBooks Online for all our companies, and it’s impressive. For growth/scale it is going to going to simplify our lives x20."
More ways to move your family office forward
Gain full transparency into all your assets and investments
A true multi-company accounting software, you can consolidate finances for all your entities into a single database.
Full Role-Based Security
Control user access by establishing roles and limiting visibility within your system.
Explore family office accounting resources
In the bookThe Complete Family Office Handbook: A Guide for Affluent Families and the Advisors Who Serve Them, Kirby Rosplock, PhD, notes that in...
What is family office accounting?
A family office is classified as a business created by family to support their overall financial needs. Family office accounting is the management of investments and financials for wealthy families. Accounting software designed to effectively track and reconcile your wealth management across multiple locations, businesses and investments can help achieve better insights and improve your bottom line.
What should be on your family business accounting checklist?
Start by creating a checklist of all the things you want to achieve in your revamped accounting practices. Here are some of the things you should strive for when optimizing your family office accounting operations:
- Complete transparency
- Financials that are easy to use
- Multi-entity accounting software with inter-company capabilities
- Dashboards with real-time insights
- Consolidated financials for all your businesses in one database
- A complete transaction audit trail
- A cost-effective system that allows you to easily scale up or down
Why do family office teams prefer Gravity?
Gravity fills the gap between entry-level accounting software like QuickBooks and expensive enterprise applications like Sage Intacct. Gravity-s multi-entity accounting software provides each company and each location with secure, web-based access to real-time information so your accounting team can work efficiently in the office or on the go.