Is My Data Correct? IR Monthly Checklist

Is My Data Correct?

IR Monthly ChecklistChristopher Anderson | Katie Escoto

Who Are We?Christopher Anderson

• PSG New York

• Private Equity

specialist

• Dog dad to Charlotte

• Professional Buzz

Lightyear lookalike

(available for

birthdays)

Is My Data Correct? IR Monthly Checklist

Katie Escoto

• PSG New York

• Strong preference for

New York pizza over

Chicago-style

• Loves Golden Girls

but doesn’t have the

Hallmark channel

Not to scale

Who Are You?

• You planned on coming to this session

• You will be maintaining or assisting with the upkeep

of your firm’s Accounting data

• You know the basics to Accounting and are

PUMPED to learn about more advanced features

• You like pizza. It can be either style; this is a

judgment-free zone.


To scale

Session Overview• Understand the purpose, business need and

output of well-maintained accounting data

• Learn industry-wide best practices and

discuss diverse ways Backstop clients use

the system

• Document your process and understand the

end-to-end accounting process

Materials made available after these sessions

on the Support Site:

https://support.backstopsolutions.com/buc16


I Wish I Had Known…. Is there anything you wish you had known as you

implemented your data and created your Backstop process?

CRM;

Sales &

Marketing

Reporting

&

Comm’sAccounting Data

• Accounts

• Transactions

• Balances

• Workflow

• Contacts (People

and Organizations)

• Opportunities

• Target Lists

• Email Center

• Reports (Custom

and Standard)

• Custom Statements

• Excel Toolkit

• Investor Bridge


• Meeting potential

investors

• Managing

communications

with Contacts

• Marketing

• Capital Raising

• Product launch and investment periods

• Ongoing new investments or

calls/distributions

• Monthly balance and transaction activity

• Active Investor Relations Communications

• Due Diligence

• Investor

communications of

performance & balances

• Ongoing investment

analysis for clients

• Internal reporting

Goals

• Learn about more advanced features of Accounting that you

may not be using

• Discover new insights, analysis and reports that can be

unlocked by enriching your data

• Know where to find learning resources and information

about new concepts/features


Accounts

• New investors

• Additional information about your new investors


Accounts – Input Trans. BalancesAccounts


Accounts – Processes

• Collect data from administrator and format upload templatesData Gathering

• Can be accomplished through uploads OR interfaceUpload/Input

• Review and run audit reportsData Audit

• Run compliance and due diligence reportsRun investor reports

• Continue with monthly processMove on to transactions and balances

Account Fields - Compliance• Standard:

• ERISA

• Domicile

• Bank Holding Act

• Blue Sky

• Investor Qualification Type

• Investor Type for Form PF

• Custom:

• Qualification fields

• Third party marketing

• AIFMD

• Other:

• What do you use?


Account Fields - General

• Other ID

• Tax ID

• Investor Type


Accounts - RelationshipsRelationships can be created between contacts and

accounts.


For more information on how to leverage relationships within

Email Center, attend the Launching Activity: The Next Level,

immediately after lunch.

Outputs – Compliance Reports


Outputs - Ongoing DiligenceDue Diligence – Document Matrix


Transaction InputBooking Subscriptions, Redemptions, and Transfers

Transactions

• Inputs• Admin Reports

• Client Communication

• Liquidity Terms

• Process• Transactions Upload/Entry > Balances/NAV

• PE: Notices

• Output• Forecasting

• Transaction History & Detail


Trans. BalancesAccounts

Transactions Reconciliation


Common Errors

1. Missing or invalid Account ID or Other ID with Fund ID

2. Insufficient Account Balance (ENABS & Process)

3. Missing required fields Check that all the following are populated and mapped:

Product ID, Account Other ID, Amount, Transaction Date

Tranche: Transaction/Subscription Other ID

Series: Share Class (ID), Series Name

Common Errors: Transactions Upload


Common Errors cont.

4. Other ID is already assigned

Transaction Other ID’s need to be unique

5. Share Class/Series creation (ID for Series for NAVs)

6. Liquidity Terms

7. Duplicate Transactions for those in the future

Any others???

Common Errors: Transactions Upload


ADMIN REPORTS

Balances

Balances

• Inputs• Admin Reports

• Transactions (Subscriptions at least)

• Process• TMV > Upload Balance

• Series > Upload Administrator File

• Check & Close Periods

• Output• Updated Performance, Balance


Trans. BalancesAccounts

Easy Reconciliation


Investor Summary


Could not find account• Are the ID’s consistent?

• Are there extra rows?

Initial Transaction not entered

• Account must have at least 1 subscription before a balance can be

uploaded (exceptions for GP accounts)

File Format• Must be in .csv format

Partnership Accounting


Number Format• For numeric fields, cell format should be ‘general’

• $10,500 should be 10500

• 0 values should not be “-”

Missing Required Fields• Product ID, Account ID, Balance

• Tranche: Subscription Other ID

Partnership Accounting


Closing Periods


What do I get out

of all this?

Investor Relations on Steroids

• All Client relevant information at your fingertips

• All CRM and transactional data

• No more waiting on an Admin to get your reports and analysis

of Fund Performance

• Streamlined communication through Email Center based on

Account Ownership and relationships

• Centrally accessible data as opposed to passing around


InvestorBridge – Client Portal• Grant investors access to their account data

• Transactions

• Balances

• Performance

• Documents

• Data and documents are easily imported

from Backstop into InvestorBridge.

• Robust permissioning based on categories

and account relationships.


• Compliance (ERISA, Form PF, etc.)

• Ongoing Diligence

• Management Fees/Performance Fees by

Relationships

• Liquidity

• Unlock Standard Reports• Investor Summary

• Breakdown by Investor Type

• Top 10 Investors

Reporting Goals


Pro Tips


Upload Completed by:

Month Uploaded:

Steps Key Data Points Completed Reconciled?

Upload or Create New Accounts

Report Name:

____________________________

Enter Account Relationships

Report Name:

____________________________

FX rates

Transactions

Report Name:

____________________________

Share Prices

Tranche or Account Balances

Report Name:

____________________________

Close Accounts

Fund Performance Override

Final Review

Close Periods

Document a process

Form a checklist

Build re-useable reports

Resolve discrepancies in a timely manner


QuestionsStop by BackCHAT Bar

Contact Support:

[email protected]

+1 (312) 277 – 7702

Continued Learning:

support.backstopsolutions.com

It’s Lunchtime!