What it is
A fiduciary accounting has traditionally been built by hand, whether on paper, in a spreadsheet or in fiduciary accounting software: someone goes through every statement, classifies every transaction, follows every security’s carry value and works until the two sides of the summary agree. Automated fiduciary accounting replaces that work with technology. You add the PDF statements; the accounting is generated, schedule by schedule, with each account reconciled to its own statements and the whole balanced to the penny.
Balanced converts and organizes your statement data exactly as the statements show it, using disclosed, standard accounting conventions you can change. Everything beyond that comes from your own instructions.
What it does
- Classifies each receipt and disbursement to the right schedule
- Follows each security’s carry value lot by lot through purchases, sales, reinvestments and corporate actions, and calculates each gain and loss from carry value
- Balances each account on its own, and the accounting as a whole
- Lays it out in the California Probate Code §§1060–1064 format for trusts and probate estates, or the Judicial Council GC-400 layout for conservatorships and guardianships
- Cites the statement and page behind each row, so the result can be checked line by line
- Delivers one fully editable Excel workbook, with every schedule linked to the summary
What stays with the fiduciary
Judgment. The fiduciary reviews and verifies the accounting before relying on it or filing it, and decides the questions only a fiduciary can: how an item should be treated, what a memo should explain, what the court needs to know. Anything the statements cannot show can be described in a memo and is reflected in the accounting.
Who it is for
Balanced is built for professional fiduciaries, trust and estate attorneys and their paralegals, CPAs, and individual trustees, executors and conservators with a California accounting to prepare: a first account, a final account, or a subsequent accounting that continues from the last. It is trust and estate accounting software that works differently: the accounting is generated from the statements, not entered by hand. For a trustee, it is trust accounting software and court accounting software in one.
See it for yourself
Balanced is a new kind of software for California fiduciary accountings. From the PDF bank and brokerage statements, Balanced generates the accounting in minutes to hours, rather than the days, weeks or months of manual work it otherwise takes: transactions classified to their schedules, carry values tracked lot by lot, each account reconciled to its own statements, the summary balanced to the penny, and each entry cited to the statement and page from which it was drawn, delivered as one fully editable Excel workbook. $699 per accounting.
See what it produces: a complete sample trust accounting, a probate estate accounting and a GC-400 conservatorship accounting.