SumIt Reviews & Product Details

The good thing about accounting systems is that they are the same: debits, credits, reports, etc. The great thing about this fact is that it makes it so easy to transition to a superior product when it comes along. Sumit® is that product.

What I like best about Sumit® has to be split into two parts:

First, the biggest strength of the Sumit® accounting system is that it was clearly designed for family offices. It eliminates the complexity of multiple entities, layered ownership, bank and brokerage activity, consolidated reporting, and provides a clear view across the structure. That design difference matters.

Second, the biggest strength of the Sumit® software company is its founders. Alexandre and Fernando have been through the trenches of running a family office, so they knew all the pain points and decided there had to be something better. They're always thinking 10 steps ahead, from elemental enhancements to integrating MCP software for use with AI. Review collected by and hosted on G2.com.

Not so much a dislike as much as a reality of doing the work correctly....there is a lot of setup to get the system humming. Thoughtful setup and substantial time is necessary to get the entity structure, chart of accounts, ownership relationships, integrations, and reporting views right.

The setup effort is worth it, but users should expect to be intentional on the front end rather than treating it like a plug-and-play small business accounting file. Review collected by and hosted on G2.com.

Having one place for 22 different entities, instead of manually logging into 22 different QuickBooks instances, has been a huge improvement for us. The user interface is easy to use, which helps new team members learn the system quickly and start contributing right away. The migration was also surprisingly smooth and efficient, and the support team was capable and responsive, making the transition straightforward while bringing over all of our existing transactions and information.

I think of the SumIt team as a true partner. They listened to our challenges, and it became very clear to us that SumIt was the right solution. I also love the clear development roadmap; every time the team told us a solution was coming, they delivered the module on time and in working order. Review collected by and hosted on G2.com.

This isn’t applicable to most family office structures, but we do have an operating company that we still keep in QuickBooks Online because SumIt doesn’t have an invoicing or AR module. Review collected by and hosted on G2.com.

Sumit has been a great tool for streamlining workflows specific to family office needs. It is easy to use, well organized, and helps reduce manual work by keeping key financial and operational information in one place.

The integrations with banking, brokerage, and bill pay applications are especially helpful. They make it easier to centralize information, track activity, and reduce the need to jump between multiple systems.

The platform has improved visibility and made it easier to stay on top of tasks across the family office. The support team has also been responsive and helpful. Review collected by and hosted on G2.com.

Because Sumit is built for family office workflows, some of the features can take a little time to fully set up and tailor to your specific processes. Review collected by and hosted on G2.com.

Given the high volume of entities we manage, it’s a real time-saver to have everything under one login instead of maintaining separate files like we did in our old accounting system. Automating bank feed transactions also lets us spend more time analyzing reports and less time categorizing transactions. Customer service has been impressive as well—they’ve been receptive to our feedback, and they’ve either helped us find solutions or introduced new features in SumIt based on the needs of their family office customers. Review collected by and hosted on G2.com.

SumIt is still fairly new and is missing a few features we had in our previous accounting system. That said, since we signed on, new features have been rolled out that have addressed our needs. There’s nothing that drastically affects our day-to-day work in the office. Review collected by and hosted on G2.com.

My favorite feature in SumIt is the ability to record multi-entity transactions in a single entry. As our family office grew and we added more entities, we struggled to record inter-company transactions and were constantly opening and closing files, exporting reports, and comparing information across them. With Sumit’s software, we can record multi-entity transactions and then review the financial statements to confirm the balances agree. I also love that I can pull reports that show activity across all entities in one place, which makes it much easier to review everything together. Review collected by and hosted on G2.com.

As a newer accounting software, it initially lacked a few features I expected. That said, SumIt regularly asks for feedback and genuinely listens. Over time, they’ve implemented new features, which has made the product better. Review collected by and hosted on G2.com.

Integrates with Addepar and Banks, offers straightforward reconciliation tools, and provides customizable reporting. Review collected by and hosted on G2.com.

The team is working through some kinks, such as importing realized and unrealized gain/loss from brokerage reports and handling partnership reporting. Review collected by and hosted on G2.com.

An excellent accounting system specifically designed for the family office. Specifically the ease of consolidation and the future capability for full partner accounting are the main drivers. Review collected by and hosted on G2.com.

The only downsides I have are the columnar treatment for accounts vs a more traditional horizontal / rows type reporting. Also would like to be able to pin or have the ability to only work in one entity at a time when entering journal entries, etc. Review collected by and hosted on G2.com.

They allow you to easily access all of your entities in one interface, no signing out or switching around. Review collected by and hosted on G2.com.

It's still newer software, so it is missing some modules that the legacy software has, but they're adding more all day! Review collected by and hosted on G2.com.

Multi-entity support across everything. I can keep bank and investment transactions together and handle reporting all in one place. Review collected by and hosted on G2.com.

I wouldn’t say I dislike it; it’s more that they’re a newer software, so a few bells and whistles are still missing. It’s nothing that would affect my day-to-day work, though. Review collected by and hosted on G2.com.