Fund Tracking

Use of a fund tracking product gives administrators more control over the funds they are responsible for. These products allow the fund administrators to monitor purchases or withdrawals made against a particular set of funds. This essentially makes it easier for the fund manager to determine if the funds are being used in the manner they were intended for.

The administrator can use the fund tracking product to grant certain permission levels to different users. Some may have the ability to transfer and withdraw funds, whereas others may only be able to view available funds. An administrator could also use the software to generate a reconciliation report.

In addition to access control, fund tracking software can be used to maintain an activity or history log. The log could be set up to capture information such as when certain transactions were performed and which users performed them. This type of control hinders mismanagement of funds and allows for accountability.

Who Uses Fund Tracking?

Fund tracking software can be very beneficial to users in both the public and private sectors. For instance, it can be used to track the allocation of a non-profit's grant money. An investment group might also use it to track deposits to and withdrawals from a participant's retirement fund or 401k, or a bank could simply use it to allow its customers a convenient way manage the funds in their accounts.