Principal and Income Accounting

Separate Principal and Income Accounts

Managing trusts or estates means that you often have to account for assets' principal and income separately. Our general ledger's extensive chart of accounts allows you to classify principal and income receipts separately for tax and reporting purposes.

Trust and Estate Accounting White Papers

To assist our users, we've written two white papers on the subject of accounting for trusts and estates:

  • Trust & Estate Accounting Overview - This short, six-page white paper provides an overview of the important issues in accounting and reporting for trusts and estates.
  • Trust & Estate Accounting Details - This 81-page document illustrates how our software is used to properly report fiduciary accounting income and record the appropriate allocation of principal and income.

Complete Accounting Solution

Manage Layers of Complexity

Multiple layers of marketable securities often presents a challenge in trust accounting. Our portfolio management tools allow you to account for multiple tax lots, track cost-basis and purchase date for blocks of securities, produce interim tax schedules, and automatically update security prices. This is ideal for trust and estate managers who want a total accounting solution.

Complex Reporting

Generate Complex Reports

To help serve multiple audiences, our reporting features are tailored to the special needs of fiduciaries, beneficiaries and trustees. It can report on principal, income or both. In addition, the system can produce separate and consolidated reports that span multiple years during lengthy estate settlements.

Trust and Estate Reports

Browse our Trust & Estate sample report booklet for examples of specialized reports, such as:

  • Income and Principal Activity
  • Statement of Cash-Flow Report
  • Statement of Assets and Liabilities
  • Charge and Discharge Statement
  • Receipts and Disbursements
  • Cumulative Statement of Beneficiary Distributions

Manage Cash Disbursements

Streamline Check Writing

Processing disbursements from multiple accounts can be a time-consuming burden for a manager of a trust or the executor of an estate. Our check writing capabilities make complex check-runs simple. You can print checks from multiple accounts onto blank checkstock — fully customized, professionally formatted and MICR-encoded — avoiding the need to handle multiple pre-printed check forms.

Financial Navigator allows you to:

  • Add your company logo to printed checks for a professional look.
  • Use electronic signatures to avoid having to have clients manually sign checks.
  • Make duplicate copies and stubs to keep for your records electronically or physically.