Frequently Asked Questions

SaaS & Managed Services

WHAT IS ARTIFFEX’S SECURITY POLICY

Our security methods meet the strictest protocol requirements of the Ontario Securities Commission and the Privacy Commissioner of Canada, including respecting The Personal Information Protection and Electronics Document Act of Canada. Additionally, ARTIFFEX was awarded SOC 2 Type 1 certification by Raymond Chabot Grant Thornton in December 2021.

ARTIFFEX uses OKIOK, an external security firm to regularly perform penetration tests on our network to ensure it’s free of vulnerabilities.

We count some of the world’s leading accounting firms as clients, and they have reviewed our data security procedures and network setup prior to our engagement.

WHAT IF A FINANCIAL INSTITUTION I DEAL WITH IS NOT CURRENTLY SUPPORTED?

Provide ARTIFFEX with 12 months of consecutive documents in original (digital, not paper converted to PDF) PDF format so we can map the new institution. This process takes 10 business days. For a new online investment portal, the process usually takes three to five business days.

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CAN I IMPORT HISTORICAL DATA INTO ARTIFFEX FROM ANY OTHER SOFTWARE PLATFORMS?

You may import historical data from PDF statements into ARTIFFEX. Setting up a new client is straightforward. You begin by loading the PDF statement representing the last month of the previous fiscal year for each broker account associated with the client’s portfolio and changing any of the original cost basis as required.

IS MY FIRM A GOOD CANDIDATE TO LEVERAGE THE ARTIFFEX SOLUTION?

Absolutely, you have an opportunity to benefit from the efficiencies that ARTIFFEX can deliver if:

You do not rely on broker-summarized reporting for actual tax compliance
Clients you deal with have assets under management with multiple broker accounts
Clients you deal with have a mix of asset classes and a moderate amount of trading activity during the fiscal year
Marketable securities are held in a holding company or trust for tax efficiency
Your firm offers family office services

CAN YOU EXPORT JOURNAL ENTRIES TO OTHER ACCOUNTING SOFTWARE?

Yes. Our integrated export tool allows information in ARTIFFEX to be exported to any downstream portfolio accounting platform. If the firm utilizes QuickBooks Online or Xero, an API can push journal entries directly from ARTIFFEX.

HOW QUICKLY CAN WE ONBOARD ARTIFFEX WITHIN MY FIRM?

Onboarding begins before you become a client. During our initial meetings and conversations, we seek to understand your workflow around investment accounting. Once you become a client, we conduct virtual training sessions that total approximately four hours. Supplemental training sessions are available upon request. We also offer on-demand videos that are accessible to all our clients. To learn more about our onboarding process, please request the ARTIFFEX Onboarding Guide by contacting us at info@artiffex.com.

WHAT KIND OF TECHNICAL SUPPORT DOES ARTIFFEX OFFER?

Client support is available via email on weekdays from 9 a.m. to 6 p.m. (EST). Our representatives are located in our Montreal office and can assist users with questions related to functionality, operations, and day-to-day use of the platform.

WHAT IS THE NATURE OF YOUR PARTNERSHIP WITH NDEX SYSTEMS INC.?

ARTIFFEX is part of the NDEX wealth management and investment accounting solutions suite.

Also known as NDEX Accounting Solutions, ARTIFFEX leverages NDEX technology to ingest and reconcile the efficient processing of complex, multi-source information, ensuring accuracy and enhancing client experience.

For more information on the full suite of NDEX wealth management solutions, please visit www.ndexsystems.com

WHAT IS ARTIFFEX’S CURRENT PRIVACY POLICY?

Click here to see our current Privacy Policy Agreement.

WILL THE FILES BE PROCESSED OUTSIDE OF CANADA?

Rest assured our files will be processed in Canada by ARTIFFEX employees using our secure application.

HOW LONG DOES ARTIFFEX TAKE TO PROCESS OUR FILES?

We are committed to delivering files in under 30 days. Once all of the data required to reconcile a file is provided to ARTIFFEX, we will commit to a delivery date which may vary from a few days to a few weeks.

WHAT DOCUMENTS ARE REQUIRED FOR ARTIFFEX TO RECONCILE A FILE?

Unencrypted original PDF brokerage statements, not paper scanned to PDF. ARTIFFEX can reconcile files with statements tracking marketable securities whether they are monthly, issued every other month, quarterly and/or annual statements. In the case where some or all of the cost basis on the statements are incorrect, we also require a file containing any costs which need to be adjusted.

WHAT ARE THE DELIVERABLES?

We provide a comprehensive set of reports for tax compliance purposes including:

Reconciled Continuity Schedule per broker account with journal entries
US cash reconciliation per US-dollar account
Foreign Asset Verification Report (T1135)
Gains and Loss Reports
Summary of transfers in and out

WHAT IS ARTIFFEX’S SECURITY POLICY

ARTIFFEX uses OKIOK, an external security firm to regularly perform penetration tests on our network to ensure it’s free of vulnerabilities.

We count some of the world’s leading accounting firms as clients, and they have reviewed our data security procedures and network setup prior to our engagement.

IS THIS RIGHT FOR ME?

To find out if Managed Services are right for you, simply request a 15-minute chat with one of our specialists. Find out more by reserving a time to chat now.