Fee Recipients
A correct run total can still conceal a fee delivered to the wrong investor or one line omitted while another is duplicated. Each fee line identifies a component and recipient, and its accounting path determines whether a direct capital reduction should exist. The recipient must resolve to the intended account in the correct Entity, class, currency and lifecycle window.
Open Accounting → Fees & Capital Allocations → Fee Recipients to compare that line-level expectation with the saved capital effects. Read it alongside Fee Posting, which reviews the run's journal.
Select the same run
Choose Entity, Accounting Period, optionally Fee Run, Share Class and Recon Status. This page has one row per non-voided fee-run line, and Share Class filters the line itself. Calculation and Posting instead retain whole matching runs; their totals can differ under the same class selection.
No fee runs or recipient lines have been produced in the fictional period. All is selected; the empty result does not certify fee completeness or successful posting.
Compare expected and actual impact
A direct-capital charge has a negative expected impact because it reduces investor capital. The actual impact sums movements sourced to that fee line; subtracting expected from actual shows the delivery difference. An absent reduction can therefore produce a positive variance. Through-P&L components intentionally expect no direct capital movement here: their accounting must be followed through the fee journal and earnings path rather than filled in with another charge.
Read Fee Run Line, Fee Run, Component Type, Recipient Type, Recipient, Capital Account, Status / Recon Issue and Currency. Scroll right for:
- Fee Amount: the stored calculation line.
- Expected Capital Impact: negative Fee Amount for direct-capital components; zero direct impact for through-P&L components.
- Actual Capital Impact: capital transactions linked to that fee-run line.
- Variance: actual minus expected.
For a hypothetical finalized carry line of USD100, expected direct capital impact is −USD100. If actual impact is zero, Variance is +USD100: inspect the recipient account and source lineage to find why that reduction is absent. For a USD200 through-P&L line, expected direct impact is zero, so an actual zero does not identify a missing direct charge. Inspect its fee-run journal through Fee Posting instead. These are arithmetic examples, not calculated or posted lines in the screenshot.
Direct-capital components are carry, incentive fee, true-up and clawback. Other components follow the through-P&L path in this control; they should not also have direct capital transactions.
The recipient must resolve to one active capital account for the intended Entity, class and fee period end. For a finalized direct-capital line, the checks also require one transaction, the expected account, period-end date, matching currency and amount within the rounded one-cent tolerance.
A nonfinalized run shows Needs Review before those posting checks. Read the issue and underlying records; do not infer that all other checks passed.
Trace the recipient
- Open the Fee Run Line and Fee Run references to verify the exact calculation/version.
- Open Capital Account and confirm its subscription, class, currency and open/close dates. Recipient is display text; use the configured record references for navigation.
- Inspect the linked capital movement and source lineage in Accounting Operations.
- If the target account is missing or ambiguous, resolve coverage with Accounting. For incorrect terms or calculated allocation, involve the fee owner.
- Pair the result with Fee Posting, which checks the fee journal. This recipient control does not independently verify that journal.
Do not add a duplicate charge to resolve a zero impact without checking the component's accounting path. Through-P&L lines deliberately expect zero direct capital impact.