Forest Systems is a cloud-based double-entry accounting and financial reporting platform designed for high-net-worth investors. Forest works with family offices and CPA firms to streamline complex portfolio accounting, data aggregation, and integrations.
The Forest–BILL integration automatically pulls in BILL transactions and transforms them into fully structured, double-entry accounting records. Transactions are available for review and posting in Forest—eliminating manual entry and reducing errors.
Clients leveraging the Forest–Addepar integration unlock even greater efficiency. Once BILL transactions are saved in Forest, they seamlessly flow into Addepar, directly from the Forest general ledger—ensuring synchronized data, improved accuracy, and real-time financial visibility across platforms.
The platform allows users to manage multiple legal entities—such as LLCs, trusts, and personal accounts—within a single unified system. Significance: It eliminates the need for separate software for each entity, ensuring that complex family structures are viewed as a cohesive "forest" rather than scattered "trees."
Forest Systems provides tools to track alternative investments, including private equity, hedge funds, and venture capital, including "inside and outside" tax basis tracking. Significance: This provides transparency into illiquid assets that are typically difficult to track alongside traditional market securities, ensuring a complete picture of total wealth.
The system integrates with banks, brokerage houses, and custodians to automatically pull in transaction data and market pricing. Significance: Automation reduces manual entry errors and saves hundreds of hours of administrative work, allowing financial teams to focus on strategy rather than data entry.
The software includes specific modules for trust accounting, including principal and income tracking and automated distribution reports for beneficiaries. Significance: It ensures fiduciary compliance and provides clear, auditable documentation that satisfies legal requirements for trustees and executors.
It streamlines "due-to/due-from" accounting where one entity pays expenses or transfers funds on behalf of another within the same family office. Significance: This maintains strict accounting integrity across dozens of entities, preventing "leakage" and ensuring that every internal dollar is accurately accounted for.