Services · Private clients
Family office accounting
One accurate view of the family's entities, accounts and investments, with payments made under approval controls and reports that show where everything stands.
The accounting behind a family's affairs
A family's wealth builds up in layers: operating companies, holding entities, property, private investments, bank accounts in several countries, and a household with its own staff and bills. Each layer keeps its own records, and few people ever see all of them together.
We act as your family office's accounting function, or work alongside the team you already have. Every entity is kept to a consistent chart of accounts, payments are released only after the approvals you set, and the family receives a consolidated report that reconciles to the underlying statements.
What we run for the office
The complete accounting function, or the parts your own team does not cover.
Consolidated reporting
Every entity, bank account and asset class brought into one report: cash, listed investments, property, private holdings and liabilities, with net worth shown by owner and by entity.
Bill payment and expenses
Bills received, checked, coded and paid in runs approved by the people you nominate, with a second approval above the limits you set and a supporting document behind every payment.
Household and staff payroll
Payroll for household and estate staff, with payslips, statutory deductions and filings in the country where each person works. For US households, this includes the employment taxes reported on Schedule H.
Investment performance
Custodian and manager statements reconciled each period; time-weighted returns for listed portfolios, and capital calls, distributions and the latest valuations for private funds.
Budgets
Annual budgets for the household, each property and each entity, with actual spending compared each month and differences explained.
Support for your own team
Month-end close, consolidation, reconciliations or audit preparation for an in-house team that needs extra capacity or senior review. See audit support.
Offices we support
From families whose affairs are still run informally to multi-family offices serving several families.
- Single-family offices that want a complete accounting function
- Multi-family offices that need each family's books kept separately and reported in a common format
- Families without a formal office whose affairs are run by one long-serving employee
- In-house finance teams that need help at month-end, consolidation or audit
- Principals who want managers' reports reconciled to bank and custodian records
The reporting cycle
Regular work on a fixed rhythm, agreed with you during onboarding.
| Cycle | Our work | Delivered to you |
|---|---|---|
| Each payment run | Bills checked against approvals and documents, and payments prepared for release | A payment list for your nominated signatories to approve |
| Each month | Books closed for every entity; bank, card and custodian accounts reconciled; payroll processed | A consolidated report of cash, net worth and spending against budget |
| Each quarter | Investment performance calculated and private fund statements brought up to date | Performance by manager and by asset class |
| Each year | Annual accounts for each entity, schedules for tax returns, and next year's budgets | An annual pack for the family and its advisers |
Arrangements
- Software
- Kept in QuickBooks Online, Xero or Zoho Books, with Odoo and SAP Business One supported where the office runs an ERP; subscriptions stay in your name
- Approvals
- Payments released only by the signatories you nominate
- Onboarding
- Two to four weeks, then one month-end close run in parallel before we take over
- Your team
- A named partner and a dedicated accountant who know the family's affairs
If the family supports charitable causes through a foundation or trust, see philanthropy and giving.
Questions
Can you act as our office's entire accounting function?
Yes. We keep the books for every entity, prepare payments, run payroll and produce the reports. Your office manager or a family member approves payments and receives the reports.
How do you organise a multi-family office?
Each family's entities sit in separate books, with access limited to the people who serve that family. Reports follow a common format, so the office can review every family on the same basis.
Do you manage or recommend investments?
No. We report on investments; we do not select them. We reconcile what your managers report to custodian records and measure performance on a consistent basis, which makes managers easier to compare.
Who at Pi can see our information?
Only the partner and team assigned to your family. The engagement is governed by a written confidentiality agreement, files travel through our encrypted client portal instead of email, and reports go only to the people you name. See security and confidentiality.
Speak with a partner
Every enquiry is read by a partner and answered within one business day. Meetings are held at our offices, at yours, or by video.