Ark provides secure sandbox to test full platform upon request
BOSTON, July 9, 2024 – Ark announced availability of bank integration, capital call receipt reconciliation and financial data synchronization.
Demos are available via request here – https://share.hsforms.com/1GG4w1GFdSI2CbECzxw_XoA3uf5n
Ark’s bank integration allows GPs and fund administrators to securely harmonize funds’ bank accounts and credit facilities within the platform. This integration provides an intuitive interface for reviewing bank transactions, providing clear transparency over bank activities and balances. By automating the conversion of transactions into journal entries, Ark simplifies and strengthens the financial management process, further reducing opportunities for errors, saving time and increasing the speed of accuracy of analysis.
Capital call reconciliation is a robust tool for managing and tracking investor capital calls. This feature delivers an intuitive interface for selecting capital calls, marking cash as received, and notifying investors that their cash has been received. It reinforces financial record accuracy by generating journal entries and allowing users to easily add and track adjustments.
Together these features deliver financial data synchronization across banking transactions, capital activity, and arkGL. Key features include:
- Flexible Transaction views
- Automated journal entry creation
- Robust Dashboard
- Bulk transaction categorization
- Capital Call tracking
These additions complement Ark’s comprehensive fund accounting platform – designed to revolutionize the way private funds operate. Moving beyond the constraints of traditional general ledger systems, Ark’s new platform is engineered to address the intricate demands of partnership accounting, providing a seamless, integrated approach to managing private fund operations and investor relations with unparalleled precision and ease.
While off-the-shelf ledgers and legacy portals remain in wide use today because they can handle the basics, their inability to cater to the nuanced requirements of private equity fund managers has led to reliance on cumbersome spreadsheets and manual reconciliations. Ark’s new fund accounting capabilities transcend these limitations, combining ease of use with automation, enabling fund operations teams to achieve the next level in efficiency and transparency.
