KIMBERTON, Pa., March 31, 2020 /PRNewswire/ -- KnowLedger, LLC, a Pennsylvania-based financial technology company, today announced its formation to support the streamlined migration of financial data for family offices. Ryan Kerry, CEO and Co-Founder, formed the company following the acquisition of his prior company, Accusource, LLC to STP Investment Services earlier this year.  

KnowLedger efficiently moves data from portfolio accounting systems and custodians to general ledgers (GL). The KnowLedger team works closely with family offices to establish mappings and data flow, then oversees the recurring movement of the data from various sources to their general ledger. 

"If you look closely into busy multi-family offices, you'll find accounting teams hard at work doing data entry, compiling detailed reports, reconciling data issues, and manually re-keying endless transactions," said Ryan Kerry. "They're spending more time on data maintenance than they are on decision-making. It's really preventing the accountants from being accountants. Firms want solutions that free up their resources to focus on their core business, not wrangling data. KnowLedger was released for exactly that purpose. We help accountants get out of data entry and get back into accounting!" 

Phil Smith of GCI, a firm using the solution, agrees, "KnowLedger has helped to free up our accountants who now can focus on reviewing the data and making decisions." 

KnowLedger Co-Founder, Kent Lawson, adds "For most offices, period-end processing is a stressful, time-consuming exercise.  Getting everything in on time is challenging.  When reports are late or inaccurate, or when data issues arise, addressing and correcting them takes the core team off task and becomes a costly initiative.  KnowLedger can update the general ledger more frequently and without keyed mistakes.  Therefore, updating the general ledger is dramatically streamlined.  And as a result, with KnowLedger the period-end effort is greatly reduced."

Co-founders Ryan Kerry and Kent Lawson have been working together for over twenty years, first meeting in the 1990s at Advent Software. Since then, they each have been involved in family office operations, with Kerry launching fintech services firm, Accusource, in 2008, and Lawson running his own firm focused on family offices while working at a single family office for over ten years. In recent years, they started collaborating again on KnowLedger while at Accusource, and once that company was sold they created KnowLedger as an independent LLC to focus solely on this service and to very specifically support family offices. 

KnowLedger has also formed strategic partnerships with wealth management platform, Addepar, Inc., and financial management/GL platform, Sage Intacct, Inc. 

For more information about KnowLedger, please click here.   

"For most offices, period-end processing is a stressful, time-consuming exercise.  Getting everything in on time is challenging.  When reports are late or inaccurate, or when data issues arise, addressing and correcting them takes the core team off task and becomes a costly initiative.  KnowLedger can update the general ledger more frequently and without keyed mistakes.  Therefore, updating the general ledger is dramatically streamlined.  And as a result, with KnowLedger the period-end effort is greatly reduced."

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SOURCE KnowLedger