Roll-Forward
Investor capital accumulates over time. The opening balance carries the account's earlier ledger history; contributions, distributions, allocated earnings, fees and other recorded movements change it during the period. The closing balance is opening capital plus the signed period movement. A reduction keeps its negative sign in that addition.
Open Accounting → Fees & Capital Allocations → Roll-Forward to explain that bridge for each capital account. This is the investor capital ledger's history, distinct from a bank balance or an investment's fair value. Its arithmetic can be correct even when a required source movement is absent.
Set the period
Choose Entity, its Accounting Period, and optionally Share Class. This tab has no Recon Status filter. Accounts appear when their Open Date / Close Date overlap the period.
The fictional Entity #1 has no capital accounts overlapping July–September 2026, so no roll-forward rows appear. This does not mean investor capital or economic NAV is zero.
Read the bridge
Read the period as one continuation of the account's history. Opening capital is already included in closing capital; it is not another contribution during the period. The component columns help attribute the change to economic causes, while the underlying transaction dates determine whether an amount belongs before, within or after the window.
One row represents one capital account for the selected period:
- Opening Capital Balance: signed capital-ledger amounts dated before period start.
- Period Capital Movement: all signed ledger amounts dated within the period.
- Closing Capital Balance: signed ledger amounts through period end.
For a hypothetical USD capital account, opening capital of 10,000 plus a contribution of +2,000, a distribution of −500 and a fee movement of −100 produces period movement of +1,400 and closing capital of 11,400. The opening balance is earlier ledger history; the three movements belong to this period. Do not add opening capital a second time when reviewing closing capital.
Expand the Period Capital Movement column-header group to inspect contributions, distributions, fees, realized/unrealized P&L, income/expense and transfers. The total remains visible when the group is collapsed. The numbers above explain signed arithmetic; no such capital account or movements are shown in the empty core example.
The displayed component columns do not necessarily cover every transaction type included in the movement total. If their sum differs from total movement, inspect the underlying transaction types before assuming an arithmetic error.
Trace a balance
- Open the Capital Account reference and confirm Subscription, Share Class and currency.
- In Accounting Operations → Capital Accounts, filter Capital Account Transactions by that account and the dates under investigation.
- Review signed amounts and their source/journal associations. This roll-forward does not restrict transactions to those linked to Posted journals.
- Use Equity Tie-Out to compare the class-level capital ledger with posted GL evidence. A roll-forward that adds correctly can still contain incorrect or incomplete transactions.
Currency is the capital account's currency label; the control does not perform FX conversion or independently validate every transaction's currency. Compare like-for-like currencies and investigate inconsistency at the source.
If a funded subscription has no row, inspect Subscription Coverage before assuming its account has a zero balance. Missing accounts and zero-balance accounts are different states.