Main features

• Integrates into a single process the generation of the annual investment and tax statements, yield determinations, as well as the calculation of appropriation of earnings.
• Offers interdependence between investment and taxation law.
• Provides a complete solution for a fund’s annual financial statements: atax covers the entire value chain from the trial balance at fiscal year-end to the booking of distributions and carry-forward entries, including modifications to be made after the fiscal year-end, for example, as a result of the annual audit.

Example: At the annual audit it is discovered that potentially risky debt securities (“financial innovations”) are not appropriately classified. As the fiscal year is already closed, it is not possible to adjust the entries in the fund accounting system. atax is able to recognise a rebooking between earnings from “financial innovations” and profits. atax is then able to correctly generate the earnings and expenditure calculation, tax calculations and year-end bookings.

• Books distributions and carry-forwards: atax can transfer the annual results into distributions and carry-forwards. The reinvestments and the allocations from the special assets can be organised based either on predetermined rules or freely. The income equalization (distribution equalization) between the fiscal year-end and the ex-day are as well calculated. The development of carry-forwards can easily be retraced.
• Permits numerous manual entries: it is possible to make manual adjustments to entries booked for any of the earnings and expenditure accounts. Owing to the single process used to generate the legal investment and fiscal investment calculation for the fiscal year, the modification has only to be made once. The affected carry-forwards can be calculated in parallel.
• Delivers control mechanisms and validity checks.
• Developed to handle multiple clients: atax can process different accounting systems and take into consideration parameters based on different investment and tax laws. It is in particular adapted for fund accounting for multiple clients.