Gross NAV
The fund's GL describes what it owns and owes; subtracting liabilities from assets gives net assets. The capital-account ledger describes the cumulative interest recorded for its investors. When the relevant accounting is complete and the populations agree, these two views should explain the same net amount at the cutoff.
Open Accounting → Fees & Capital Allocations → Gross NAV to compare them Entity-wide and separately by currency. This is a balance reconciliation, not an independent calculation of all investment marks or fees.
Set an Entity-wide scope
Choose Entity and its Accounting Period. This is an Entity/currency control and does not use a Share Class filter. Recon Status defaults to Exceptions; choose All to include Ready rows.
The fictional Entity #1 has no capital accounts or Posted GL journals, so this control has no currency rows. Its subscription cash and unposted expense Draft have not established a GL NAV. The empty result is not a successful NAV tie-out.
Understand the amounts
This comparison uses the asset/liability side of the GL. Equity Tie-Out reaches the investor interest from the equity-and-open-earnings side and can separate class assignments. The two controls can therefore help locate different causes of a break. Here, a positive variance means GL net assets exceed recorded capital; a negative variance means they are lower. Establish which expected event or dimension differs instead of treating the variance itself as an instruction to create capital.
One row represents a currency present in capital accounts or posted GL:
- GL Net Assets: cumulative Posted asset/liability-account balances through period end, using debits minus credits.
- Capital Account NAV: cumulative capital-ledger movement through period end.
- Variance: GL Net Assets minus Capital Account NAV.
For an illustrative USD comparison, Posted GL assets of 10,340 less liabilities of 40 give GL Net Assets of 10,300. If cumulative capital-ledger amounts total 10,000, the variance is +300. Explain the 300 by tracing capital movements and Posted journal evidence; do not insert a capital movement merely because that amount would force agreement. These figures illustrate a populated comparison, separate from the empty core screenshot.
An absolute variance of 0.01 or less is Ready for this comparison. Keep currencies separate; the control does not translate them into one reporting-currency amount.
Despite the tab's name, it is a tie-out of these stored accounting populations. It does not independently calculate fair values, accrue all fees, prove source completeness or approve a final NAV.
Work back to the cause
- Confirm the same Entity, period end and currency.
- Review Equity Tie-Out for class-level differences and missing class dimensions.
- Review Roll-Forward, Subscription Coverage and Class Roll-Up for missing or incorrect capital history.
- Inspect Posted GL dates and classifications in Accounting Operations. Drafts do not contribute to GL Net Assets.
- Ask the accounting owner to correct the responsible records or run the authorized workflow, then refresh the control.
Both sides can agree while omitting the same expected event. Review Subscription Coverage and Class Roll-Up separately, even when this comparison is Ready.