Product

One ledger for every fund you run.

SUMMIT runs fund accounting, portfolio accounting, or both in one system, from the first trade entry to the financial statements.

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Three ways to set it up.

Pick the setup that matches your business. Both can run in the same system, with nothing keyed twice.

Feature	Fund management	Portfolio management	Both together
What it manages	A series of portfolios within a fund	Individual client portfolios	Funds and client portfolios, side by side
Accounting basis	Trade date	Settlement date	Each one on its own basis
At its core	Daily NAV and a real-time general ledger	Portfolio tools built for client accounts	Everything in both
Reporting	Full financial statements	Client reporting tools	Both, from one database

What it does, part by part.

01 · General ledger

Entries post themselves, in real time.

Each kind of transaction points to the general ledger accounts you choose. Save a trade or a journal entry and it posts at once, so the balance sheet is always current.

A separate general ledger for each fund, with shared reference files
Balance sheet, income statement and statement of change in net assets, in layouts you define
The balance sheet strikes the NAV per share for any date, as a working copy or final
Expense accruals and term deposit roll-overs post automatically when you run the accrual report

Journal: buy 2,500 sharesSample Balanced Fund

Account	Debit	Credit
1200 · Investments at cost	81,250.00	–
1050 · Cash, CAD	–	81,250.00
Posted	Real time, on save

Illustration with sample figures. Not a SUMMIT screen.

02 · Currencies

Every currency, with the gain split by cause.

Hold and trade in as many currencies as you need. Realized and unrealized gains and losses are reported for each, and the valuation report separates the part due to price from the part due to the exchange rate.

Each fund has a base currency and an exchange rate provider
A bank account for each currency you hold
Foreign exchange gains and losses realized for each bank account

Unrealized gain or loss, CADSample positions

Security	Due to price	Due to rate
US Treasury, sample	11,820.40	4,459.15
Euro equity, sample	(2,310.00)	6,045.80
Sterling bond, sample	3,118.25	(1,906.10)

Illustration with sample figures.

03 · Cost and tax lots

Four cost methods, chosen per fund.

Average cost, FIFO, specific lot, or day trades first for managed futures funds. Trade long and short across security types, derivatives included.

A fund split across several portfolios keeps a master portfolio with the correct average cost of its total holdings
A wash and constructive sales report

Tax lot methodSet in the fund profile

01Average cost
02FIFOFirst in, first out
03Specific lotPick the lot each sale comes from
04Liquidate day trades firstMainly for managed futures funds

04 · Pricing

Price Sentry catches the bad price.

Set an acceptable move, up and down, for each of five groups of assets. Any price outside it is marked on the pricing screens and on the portfolio valuation report, next to manual and override prices.

Request prices from each quote service for the securities on your active list
See the price history for any date range, by quote service

Portfolio valuation reportPricing exceptions

Security	Change	Flag
Sample Equity Ltd.	+0.84%	none
Sample Energy Corp.	+9.60%	* outside sentry
Sample Bond 2031	−0.12%	M manual
Sample Trust Units	–	P no market price

Illustration with sample figures. The flag letters are the ones SUMMIT uses.

05 · Data Portal

Imports are checked before they post.

The Data Portal takes in pricing files, security master updates, transactions and holdings. Each file lands in a staging area and is colour-coded by an edit check, so you see what will post before it does.

Reconcile positions against your custodian, with an exception report
Send out journal entries for a corporate ledger, securities to be priced, or NAV details for a transfer agent
Import transactions, securities, prices and positions from Excel files

Holdings import, stagedCustodian file

Security	Custodian	SUMMIT	Check
Sample Equity Ltd.	12,000	12,000	Matched
Sample Bond 2031	250,000	250,000	Matched
Sample Energy Corp.	4,500	4,000	Exception
Sample Fund Units	8,210	–	New security

Illustration with sample figures. Not a SUMMIT screen.

06 · Users and access

As many companies as you run, each with its own users.

There is no limit on the number of companies in SUMMIT. For each one, you choose which users can see it, and each user belongs to a group with its own security profile.

Works for one user or a large workgroup
Run the valuation report, accruals and statements for every fund in one batch
Use the standard reports or build your own

Company accessSample setup

Company	Funds	Assigned users
Sample Fund Company A	6	ACCT1, ACCT2, MGR1
Sample Fund Company B	3	ACCT3, MGR1
Sample Pension Plan	1	ACCT2

Illustration with sample names.

See SUMMIT set up for a fund like yours.

Book a demo

summit@summit-trisys.com