WSO SoftwareAccounting

The WSO Accounting service translates transactions from WSO Administrator into accounting inputs and financial reports that are ready for integration into external reporting and general ledger applications.

Customers

  • Insurance companies
  • |
  • Private equity
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  • Banks
  • |
  • Global investment firms

Statistics

  • 1k+current accounting companies
  • 25+standard and customisable exports created for general ledger systems

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Product Summary

With the number of financial reporting standards that exist, including IFRS, US GAAP, IRS, SEC and others, capturing the correct accounting transactions for investment assets can be challenging. Not only do firms need to ensure consistent historical reporting, they also need to allow for necessary adjustments to adapt to evolving accounting standards.

By leveraging information captured in Markit WSO Administrator, WSO Accounting produces transactions to generate financial reports that meet common reporting standards. It also allows for customised exports which integrate with the most widely implemented third-party systems. Posting periods are retained, with prior adjustments separately identified for the correct classification. Flexible built-in application reports allow company, fund or asset-level breakouts of key financial statements.

    Key Benefits

    • Reporting

      Ability to manipulate financial reports for income statement, balance sheet and cashflow to provide custom views using reporting grid, with trial balance and mapping reports also available

    • Customisable

      More than 20 configurable accounting settings to accommodate reporting requirements, with custom extracts able to be created in multiple file formats and scheduled to run automatically for consumption by general ledger systems

    • Integration

      Creates seamless integration between Markit WSO Administrator and third-party general ledger systems

    • Robust analysis

      Customisable reports, with details revealed for performing analysis and reconciliation and ability to export reports, postings and adjustments to third-party systems for further analysis

    • Mapping

      Ability to map each company’s chart of accounts to more than 300 transactions, including early paydown and interest accrual, with customisable linked or position-level mappings

    • Consistency

      Distinct posting periods retained, ensuring consistent historical reporting, with adjustments to prior periods identified and processed separately