Streamline Reporting for Multiple Entities with Partnership K1 Reporting
If you're required to submit Schedule K-1 federal taxes, AppComputing's Partnership K1 Reporting is designed to help simplify your multiple-entity reporting.
Partnership K1 Reporting is designed for multiple entities with partial ownership to track income expense allocation and asset distribution. Each minority shareholder can get a detailed report based on their effective ownership across all the assets. The Partnership K1 reports can manage multi-layer complex ownership structures and track ownership changes over time.
Sage Intacct and Partnership K1 Reporting for Multiple Entities
AppComputing is a certified integration partner with Sage Intacct. Sage Intacct is a market-leading cloud business management solution with a good reputation for its robust and flexible financial management capabilities. Our reporting solution is designed specifically to meet the reporting requirements for multiple entity companies.
Sign up for our upcoming live Partnership K1 Reporting webinar on Thursday, November 17, 2022 at 11 AM PT / 2 PM ET.
7 Benefits of Partnership K1 Reporting for Multiple Entities
1. Complex Ownership -An organization can have multi-layer nested legal entity structure, with multiple partial ownership for each entity. This can make it very difficult to manage and track large amounts of transaction data. AppComputing Partnership K1 Reporting can streamline all the financial management across all entities for all the minority shareholders.
2. Multiple Ownership Changes -The entity ownership with each minority shareholder can change over time. AppComputing partnership K1 reporting allows flexible ownership change on any entity at any time. These ownership changes will update the K1 distribution reports automatically by applying the current effective ownership for each shareholder.
3. Automated K-1 Reports - The system tracks all transactions across all entities. It updates all the K1 distribution reports automatically. This ensures data integrity and accuracy in all the reports.
4. Automatic Asset Distribution - All the assets and liabilities in all the entities will be distributed automatically to each minority shareholder based on their effective ownership. No user formula is needed.
5. Income/Expense Allocation - You can see clearly how income and expenses are allocated. partnership K1 reporting can track ownership-based asset distribution in income and expense allocation giving you the ability to monitor each partner's ownership stakes of assets and income and expenses.
6. Flexible Reporting - Each shareholder can have their own K1 reports across all the entities. The reports provide granular information for preparing financial statements for each minority shareholder. AppComputing's Partnership K1 Reporting is capable of handling complex multi-level partial ownership for an unlimited number of entities.
7. 24x7 Secure Online Access - You can set up each shareholder with secure online access. Each shareholder can have specific permissions to access their own reports.
Additional AppComputing solutions that integrate seamlessly with Sage Intacct.
AppComputing Consolidation - With complex multi-layer entity ownership structure, any ownership %, any currency, built-in automatic currency conversion, and automatic inter-company elimination. Consolidated historical financials and consolidated forecasts in one view. You can find AppComputing Consolidation in the Sage Intacct Marketplace.
AppComputing Budget Engine- BudgetEngine offers complete solution for corporate performance management. BudgetEngine has comprehensive pre-built data models, which eliminate the needs for old-fashion spreadsheet formula. BudgetEngine empowers team collaboration, multi-currency consolidation, financial analytics and reporting. BudgetEngine is easy to implement, usually within a day or two. You can find AppComputing Budget Engine in the Sage Intacct Marketplace.
AppComputing Wealth Management Family Office - AppComputing Wealth Management is a complete solution for multiple owners to manage multiple investment assets. With built-in asset distribution and planning modules, this solution provides each owner with consolidated financial reports across all the investment assets. You can find Wealth Management Family Office in the Sage Intacct Marketplace.
If you’re ready to start saving time and increasing the accuracy of your Partnership K1 Reporting, contact the experts at AppComputing. We’ve helped companies just like yours achieve granular visibility with increased accuracy and tighter controls and we can help you, too. Contact us today to see a demo of Partnership K1 Reporting and find out how to automate your financial reporting for your shareholders.
AppComputing, located in the California Silicon Valley, specializes in building enterprise financial applications. We partner with VARs, IAPs, and CPAs. Visit our website, call 408-829-8600 or email.