Accounting Review & Close
Accounting → Accounting Review & Close
A close brings several kinds of evidence together: source recognition, ledger balances, valuations, fee and allocation outputs, reporting documents and change controls. Use this app to see which evidence exists for the selected period and which owner still has work to do.
When to use this app
Select entity and period, then review GL → Gross NAV → Fees → Capital Allocations → Final Close. Revisit affected checks after correcting data; verify workflow completion and refreshed results.
Understand the records
The GL stage asks whether expected accounting was recognized and whether the ledger is internally consistent. Gross NAV compares the fund's asset/liability book with investor capital and tests investment marks against their accounting. Fees and Capital Allocations then trace calculated amounts to their journals and recipients. This order helps distinguish a wrong underlying balance from a later failure to distribute an otherwise correct result.
Final Close checks the reporting package and other closing evidence after those economics have been reviewed. Locks protect records from subsequent change; period status records whether the period is Open or Closed. Neither supplies the missing recognition, recipient result or reviewer decision. When an earlier correction changes the numbers, revisit the later comparisons and any output based on them.
In the core fictional July–September 2026 period, a USD1,200 expense has a balanced Draft journal. That leaves recognition unresolved even though cash is linked to the expense. Subscription Coverage also identifies an active subscription without a capital account. Final Close shows that Financial Statements and Period Report documents are missing, and the period remains Open.
These are different unfinished steps. Resolve the journal through Accounting Operations, the missing capital relationship through the accounting owner, and the documents through the reporting process. Return to the affected checks after each correction. Locking the Draft would not post it; adding documents would not resolve its accounting. The route through the tabs keeps those decisions separate.
Tabs
Where to continue
Correct accounting issues in Accounting Operations and source-data issues in the relevant operational app. Use consolidated Data Locks for broader lock visibility. A passing check does not record a reviewer's approval.
Return to Base Apps.