Fund accounting that explains every number

One model for every structure

A fund is a closed-end drawdown vehicle, an open-end NAV fund, a deal-by-deal real estate entity, a private credit vehicle or an SPV. The structure selects the chart of accounts, the fee and waterfall template, the vocabulary and the workflows. The data model does not change.

Ledger and close

Entries must balance. Posted entries are never edited: a correction is a reversal pair in the current open period. Periods move from open to soft closed to closed, and the close checklist is a set of queries, not a promise.

• Bank reconciliation complete, fee run posted, valuations in for every active investment
• Interest accruals run, allocation run posted, NAV or roll-forward approved
• Trial balance balances and Partners' Capital equals the sum of investor capital accounts

Fees, waterfalls and NAV

Management and performance fees are calculated from each investor's effective terms, including side letter overrides. Waterfalls run as a pure calculation with European or American style, preferred return, catch-up and splits, and report clawback exposure. Open-end funds run NAV per dealing date with series accounting and high-water marks.

• Allocation by commitment, opening capital or called capital percentage
• Equalization for later closes, recallable distributions and fee step-downs
• XIRR, MOIC, TVPI, DPI, RVPI and paid-in capital by account, investor, fund and class

Statements

Statement runs produce a PDF per investor account from frozen data. A published statement is never altered. A correction is a new version, the old one is marked superseded, and the investor sees a corrected-on badge.