Equalization Schedule

Base Apps → Reports

Equalization adjustments can redistribute expense or unrealized effects between investors under the fund's approved basis, for example when participation begins at different times. This schedule presents the selected true-ups already recorded in capital accounting. It does not decide which investors should bear those amounts or calculate the governing policy.

Open Accounting → Reports → Equalization Schedule to follow the configured bridge from pre-equalization capital through recorded expense and unrealized true-ups to ending capital. Establish the policy and source records separately before relying on the presentation.

Choose the reporting scope

Choose Entity, its Accounting Period, and optionally Share Class, then confirm the dates. Missing period selection can use the latest entity period; an unresolved combination can fall back to calendar-year dates. The population requires a subscription with a matching capital account opened by report end. This is not a complete investor or subscription directory.

The screenshots use Cedarbridge Reporting Example LP, July–September 2026, with fictional USD accounting records. The period is Open. These examples explain report calculations; they do not demonstrate execution of payment, posting, fee/allocation runs, valuation approval or close.

Prepared pre-equalization capital USD10,300, zero true-ups and ending balance USD10,300. Zero prepared true-ups do not establish that none are contractually required.

Read the signed bridge

Pre-equal capital is the report's reconstructed value before the selected beginning-period adjustments. A negative true-up reduces that investor's presented capital; a positive true-up increases it. Adding the expense and unrealized components gives the net adjustment, which is added once to pre-equal capital. Ordinary period allocations already included in that base are not another equalization adjustment. This bridge explains recorded adjustments under the report's inclusion rules; it does not reproduce every capital transaction or approve the allocation basis.

Read Limited Partner, Final Commitment, Pre-Equal Ending Capital, Expense True-Up, Unrealized True-Up, Total True-Up and Ending Balance.

The presentation calculates:

Total True-Up = Expense True-Up + Unrealized True-Up.

Ending Balance = Pre-Equal Ending Capital + Total True-Up.

True-up amounts come from capital transactions with the configured beginning-period-adjustment treatment and relevant expense/unrealized types. This table presents true-ups already recorded in the capital ledger. The equalization policy and its calculation are reviewed separately.

Final Commitment is reconstructed from historical subscription activities through report end under the report's configured commitment/adjustment rules. A negative entry categorized as Commitment is not treated identically to a negative Commitment Adjustment; reconcile the source categories before relying on totals. The pre-equalization bridge includes contributions, transfers, distributions and selected earnings/fee components, but omits current redemptions and some other adjustment types. It does not reproduce the complete capital ledger in every case.

Trace a difference

1. Identify the subscription, class and related capital accounts; multiple accounts can repeat subscription-level presentation amounts. Row numbers are display positions, not subscription IDs.
2. Inspect the true-up's date, type, period treatment, signed amount and provenance in Accounting Operations → Capital Accounts.
3. Compare the pre-equalization bridge with the complete ledger and the organization's approved equalization basis.
4. Ask the responsible accounting owner to correct an independently wrong input or recorded output through the supported process.
5. Refresh this schedule and affected capital/NAV controls.

Do not enter a desired true-up into a report, invent historical capital, or treat the report's arithmetic as approval of a cohort policy. Do not assume USD formatting converts or separates currencies.

In the prepared Class R example, Final Commitment is USD10,000 and Pre-Equal Ending Capital is USD10,300. Expense and Unrealized True-Up are both zero, so Ending Balance remains USD10,300. Ordinary period allocations are already in the pre-equal capital; no beginning-period true-up was prepared. This does not demonstrate an equalization calculation or establish that none is required.

Example: pre-equalization capital of 10,000, an expense true-up of −100 and an unrealized true-up of +250 give a total true-up of +150 and an ending balance of 10,150. These illustrative amounts explain the arithmetic; they are separate from the saved reporting example and do not define an equalization policy.