General Ledger Accounting

Backstop’s General Ledger Module is a specialized double-entry GL system that is fully integrated with Backstop’s core accounting functions. Implementation, configuration, and customization of the General Ledger are supported by Backstop’s Accounting Consultants, who have worked on the accounting operations of hundreds of funds and are familiar with common and atypical investor accounting situations.

Benefits of General Ledger Accounting

Reduce Manual Data Entry

The GL automatically creates ledger accounts and journal entries based on specific accounting rules and existing Backstop activity.

Optimize Accounting Workflow across Teams

As the Portfolio and Investor Relations teams go about their work in Backstop, the GL module automatically creates the corresponding journal entries. And a customizable Month-end checklist ensures that processes are coordinated and completed.

Audit and Report

The GL module is fully integrated with Backstop’s auditing, permissions, and reporting services. All transactions are audited and activity is captured for reporting. Financial statements can be produced by users through integrated reporting tools.

Features and Functionality

General Ledger works in concert with Backstop’s Partnership Allocation Module to streamline the maintenance of your business’s primary accounting record. GL supports onshore and offshore fund accounting in multiple currencies and can track holdbacks, cash, and leverage.

The functionality of Backstop’s General Ledger is driven by an integrated Chart of Accounts, Journal Entries,
and Trial Balance.

• Chart of Accounts allows users to view and customize a list of consolidated and source accounts in the following categories: assets, liabilities, equity, income and expense.
• Journal Entries allow users to manage, view, or enter automated and manual entries by period. Entries may be posted when final.
• Trial Balance filters by period and accounts for drill-down detail of journal entries.

Leveraging Backstop’s core functionality, the GL Module also offers the following features:

• Auditing tools track all activity captured by Backstop’s auditing and permission services which is fully filterable by user and date.
• Integrated reporting tools allow users to view GL-derived financial statements (Balance Sheet and Income Statement) and produce customized reports with Backstop Report Builder.