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Performance Accountability and Control

SunGard Financials

is a fully integrated Financial Management System providing detailed accounting information to manage your business, investment products, fee structures and reporting.

Reduce Operating Expenses

One Integrated System Eliminate Spreadsheets Easy Import and Export Automated Reconciliation Supported by SunGard Integrated with other SunGard products

Manage Profitability

By Business Units Produce Flexible Financial Statements Comprehensive, On-line Reporting Analyze Expenses and Income Calculate Allocate Budget Track Cashflows

Increase Competitive Advantages

Support Rapid Product Introduction Flexible Fee Structures Global or Customer Specific Pricing Enhance Customer Service User-Defined Customer Administration Standard/Custom Reporting Adapt to Change Markets/Business Objectives System is User Controlled

Unique Processes

Partnership Accounting Fund Accounting Separate Accounts Mutual Funds Interest Calculations Stable Value GIC's Fee Income Calculations Commission Calculations

SunGard Overview

SunGard is a leading provider of Financial Management Solutions designed for the financial services industry. We have been providing quality systems and services to the financial services industry since 1970, and are known for our high quality systems, easy implementation, and excellent support services. Our products include: · · · · · Accounting, Budget and Cost System, ABC Cash Disbursement System. CDS Enterprise Accounting System, SunGard Financials Enterprise Portfolio System, EPS SunGard Financials

SunGard's goal is to have superior functionality and technologically advanced products in place as the demands and challenges facing the financial services industry change and expand. Through corporate acquisitions and product development strategies, SunGard continues to provide the latest technological innovations and easy access to the information needed to meet the challenges faced by our clients.

SunGard Financials Overview

SunGard Financials is a fully integrated Financial Management System providing detailed accounting information to manage your business, investment products, fee structures, and reporting. It provides the following features: · · · Sub-ledger or Corporate Ledger Comprehensive Financial Reporting Investment Management o Investment Accounting o Guaranteed Interest Funds o Commission Calculations o Daily Valuations o Profitability Analysis o Fee Structures o Partnership Accounting

SunGard Financials acts as a complete financial management system to provide financial information for your business, independently of the corporate ledger. Data can be maintained at a customer-defined level of detail, which may vary depending on the type of activity being recorded. The main functions of the financial management system are to: · Report financial activity, both internally and externally · Interface data to and from other sources and systems, including the corporate ledger · Generate accounting information · Provide cash management features · View and reconcile accounting detail · Track and account for investment activity · Perform calculations ­ unit values, interest, expenses and commissions, allocations · Provide profitability analysis. · Support partnership accounting · Input manual accounting entries.

Benefits of SunGard Financials

Increase Competitive Advantage Manage Profitability Reduce Operating Expenses

Increase Competitive Advantage

Rapid new product introduction SunGard Financials provides the ability to handle new investment products by supporting both global and customer-specific pricing that includes customizable expense/fee calculations. These expenses can be implied in the price, deducted from the customer's account, or billed directly to the customer. Enhancements can easily be made to the system to accommodate new investment vehicles as your needs change. Enhance customer service SunGard Financials maintains a wide range of operational and business information about your customers. This information includes: Descriptive names and titles Key data fields Unlimited additional informational fields Funds or investment vehicles linked to the customer Service & state information including state tax percentages Multiple contacts and addresses per contract Customized formats for financial reporting. Comprehensive reporting Standard and custom reports can be easily modified. New reports or queries can be developed by the end-user. A wide-range of report distribution methods is available. You can create reports to support the specific requirements of your business and your customers.

Manage Profitability SunGard Financials provides the ability to produce flexible financial statements by any criteria desired, including: company, division, customer, line of business, product, distribution channel, portfolio, or any other business unit category you use to manage your business. You can allocate assets, liabilities, income, and expenses to any level necessary to see the fully allocated Profit and Loss statements. Reduce Operating Expenses SunGard Financials will also reduce your operating expenses by providing one integrated solution with an easy to use import and export feature. In one place you can: Track financial activity at the appropriate level of detail Track investment activity and produce investment accounting Reconcile balances and activity from several sources Perform various calculations and allocations Analyze actual activity against a budget Provide data to other systems, such as your corporate ledger Provide both internal and external reports. By implementing SunGard Financials you can rely on SunGard to support and enhance your system. Partnership Accounting

SunGard Financials provides the ability to manage an unlimited number of partnerships with access to all of the historical partnership and partner data. Using the Allocations Module you can allocate gains and losses using the aggregate method. SunGard Financials supports the production of the K-1 and the 1065 forms and schedules. In addition, you can improve your customer service to the partners with customizable reporting. Relational Datamart The SunGard Financials database can contain data from multiple sources/systems. The database facilitates financial reporting using any ODBC-compliant report tool. SunGard Financials includes standard reports that have been created using the Crystal Report Writer. People throughout the organization, with the appropriate security, can use the standard reports, write their own ad hoc inquiries, or develop scheduled reports to view data. SunGard Financials incorporates drill-down capabilities, allowing you to start at a summary level and drill down to detail, including graphs and charts ­ all with the click of a button. The system provides the flexibility to format reports and queries in any format, including management and client reporting formats. In addition, Crystal Reports can be used to extract data into various file formats, including Excel, Word, flat files and HTML. SunGard Financials Features SunGard Financials is a modular client/server financial management system. It can be implemented as a sub-ledger in one or more areas of your company, and/or it can be the enterprise-wide financial system. Modules include:

Foundation Module The Foundation Module of SunGard Financials is the central point for: maintenance of enterprise-wide information, system security, "Rearrange" (import facility for feeder systems), and the relational database. Financial Accounting Module The Financial Accounting Module is the general ledger for SunGard Financials. It also supports inter-company, intra-company, and suspense accounting. Data can be entered through online screens, copied and pasted from spreadsheets, or interfaced from external systems. General accounting features include: · Cash management · Offsets, reversals, patterns, gain/loss entries, and error corrections · Multiple accounting periods open simultaneously

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Multiple company and/or accounting periods on a single transaction Suspense accounting Foreign currency support Multiple accounting bases Unlimited financial report formats Drill-down financial reports capability using the Crystal Report Writer Account structures by company with consolidation accounts.

Allocation Module SunGard Financials provides a highly sophisticated Allocation Module to support multi-level distributions, and the ability to use allocation experience to generate formulas for future distributions. SunGard Financials allows you to build pools of statistical or actual activity, which can be incorporated into formulas to generate ratios for allocation. Budget Module The Budget Module provides the flexibility to develop many kinds of budgets. The system offers functionality to support multiple budgets and multiple versions of each budget. Budgets can be created online, imported from a spreadsheet or from existing systems, based on last year's actuals, and/or based on last year's (or any other existing) budget. This module includes the ability to report variances between budget and actual. Investment Accounting Module SunGard Financials Investment Accounting module is a functionally rich investment management and reporting tool designed for the investment professional. It offers investment managers and portfolio accountants the power and the flexibility to manage their entire investment portfolio efficiently. Investment Accounting features include: Calculation of amortization, accruals, and realized and unrealized gains and losses Amortization of securities to maturity, call, or worst. Calculation of all SIA yields Fixed Income analytics and modeling Multiple cost basis Multiple sale methodologies Support for a full spectrum of securities, such as CMOs, Asset-backed securities, variable and stepped rate bonds, equities, preferred issues, and options on equities, indexes, and debt instruments. Accounts Payable Module The Accounts Payable Module can be used to record and account for payables activity. The module produces checks and EFTs for payables as well as for other types of disbursements. Features of the Accounts Payable Module include: · Control and aging of accounts payables using reporting software · Repetitive payments processing · Combined checks · Electronic Funds Transfers (EFTs) for vendors on the vendor table and for one-time vendors · Discounts · Credit memos · Vendor history

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User-customized accounting data entry screens Online check clearing, voiding, stop payments, and write-offs Tracking of 1099 information for 1099 Dividend, 1099 Miscellaneous, and 1099 Interest 1099 Reporting and magnetic media filing Check reconciliation Positive pay.

Accounts Receivable Module The SunGard Financials Accounts Receivable Module facilitates invoicing, collecting and tracking of receivables, as well as revenue recognition for: · Rent and other services · Agent's advances/receivables · Premiums receivable · Other receivables · Client billing · Fees · Charges · Expenses/commissions. This module provides the ability to define multiple fee/expense component items by customer. Invoices may be produced in customized formats on flexible schedules. This module also updates the SunGard Financials Financial Accounting Module with the accounting detail. Unit/Net Asset Value Module The Unit/Net Asset Value Module provides the ability to calculate unit values and net asset values for investment funds and separate accounts on a daily basis. This module includes the ability to import and store the information required to calculate values, to select the calculation parameters and formulas, and to maintain current and historical valuations. Implementing this module will provide you with flexibility in pricing your products by allowing both global and contract specific pricing. Guaranteed Interest Module The Guaranteed Interest Module provides the ability to track and manage the income, interest, and expense associated with guaranteed interest products. These products are assigned gross guaranteed annual effective interest rates for earnings, and also have unique expenses and other deductibles associated with them. This module tracks the payment parameters, including frequency, compound/simple interest, day count method, maturity date, and payment schedules. The system has the ability to track these instruments as assets and/or liabilities. Expenses and Commissions Module The Expense and Commission Module provides an extremely flexible and powerful means to calculate fee income and commissions related to the products that you offer to your customers. These expenses can be directly billed to your customers using the Accounts Receivable Module, deducted from the funds held for investment on behalf of your customers, or implied in the Unit Value price. Modular System Summary

Because of the modular structure of the system, you can purchase and implement only those modules that meet your requirements. Additional modules may be easily implemented as your business requirements change. The complete suite of SunGard Financials modules can also be implemented as your corporate ledger. This product is used today by over 100 financial services companies for their corporate accounting solution. SunGard Financials fits any company, regardless of size. You can run the database on DB2, Oracle, or SQL Server. Regardless of which platform you select, the ANSI-SQL relational database is the foundation of SunGard Financials. The database holds all of your financial information, and because it's relational, it's easy to access and manage. Implementation and Support Services An integral part of SunGard's reputation is our personal service and industry knowledge. Thanks to our expertise and the nature of our technology, implementing SunGard Financials is a smoother and more efficient process than you'll experience with other client/server financial systems. Our popular "Rearrange" feature makes it easy to interface feeder systems to SunGard Financials, and the Crystal Report Writer makes it easy to access data and export data to other systems. SunGard Financials can be implemented as part of your overall SunGard implementation, or can be implemented at a later data to facilitate access to data and to take advantage of the integrated suite of modules and their functionality. Implementation typically takes 3­6 months and includes the following tasks: Planning session Software installation Data set-up Conversion assistance Parallel assistance Production assistance Modifications, if required Custom report writing Training.

All SunGard support personnel are highly experienced in accounting and investment management systems and procedures. SunGard consultants can also assist you with installation, requirements analysis, system modifications, application support, project management, custom reporting, and a wide variety of other assignments related to the effective use of SunGard Financials within your company. Your partnership with SunGard, backed by the underlying strength of our people and technology, promises to meet your demanding business requirements and enables you to face the future prepared for the business challenges that lie ahead.

SunGard Financials 11560 Great Oaks Way, Suite 200 Alpharetta, GA 30022 (770) 587-6800 (770) 587-6808 fax

© SunGard 2003. All rights reserved


Accounts Payable Module

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