GL

Base Apps → Accounting Review & Close

The general ledger records recognized accounting through journals. A business event can exist without Posted recognition; a balanced Posted journal can still use the wrong account, dimension or source. Cash settlement adds another relationship: recognizing a cost and recording its payment can require distinct entries. A GL review therefore needs both source-to-journal completeness and journal-to-rule treatment checks, alongside balance and clearing controls.

Open Accounting → Accounting Review & Close → GL to investigate those questions before NAV, fees and capital. The controls inspect existing records; they do not post journals or close a period.

Match the scope

Choose Entity, then its Accounting Period, and read the dates and period status in the header. If the period belongs to another entity, correct the selection first. Each section has its own population; do not add amounts across sections.

Fictional Cedarbridge Example Fund LP, July–September 2026, still Open. The GL tab contains ten collapsible controls, including Source-to-Journal Recon, Posting Rule Compliance, Suspense & Clearing Recon and Duplicates & Reversals. The sections are collapsed here to show their order; this is not a passing-results summary.

Start with the source, then the ledger

Start from the source when asking whether an eligible business event reached Posted accounting. Start from the Posted journal when asking whether accounting already recorded follows its applicable rule. These directions have different populations: a source lacking an applicable rule can be absent from a source-posting exception list while its existing journal fails rule compliance.

Balance checks ask another question: whether recorded sides or balances agree. Cash-account and cash-balance checks connect accounting to bank attribution and observed balances; suspense and clearing checks expose amounts still waiting for application or offset. Duplicate and reversal checks examine whether repeated or reversing effects have valid lineage. None substitutes for the others.

GL Close Readiness displays GL-related blockers. It identifies drafts, journals whose period and entry date disagree, unbalanced or empty Posted journals, and source records whose Posted-journal count does not match their posting units. Expand an issue group to identify the actual record, type, date and Resolution.

The other checks answer different questions:

• Cash Account Recon: is cash accounting attributed to the expected bank account, with the correct account dimension and amount?
• Cash Balance Recon: does Posted GL cash agree with the latest available bank/feed balance through period end? Inspect the bank balance date; an older observation is not a new period-end statement.
• GL Expense Recon: do the expense source, relevant posting rule and recognized GL effects agree? Cash settlement and recognition may use different journals.
• GL Posting Recon: are journal structure, date/period, sides, currencies and lifecycle consistent?
• Source-to-Journal Recon: does each eligible source posting unit have the expected Posted journal, amount, currency, entity and GL accounts?
• Posting Rule Compliance: do existing source-linked Posted journals use the GL accounts required by the applicable posting rule?
• Suspense & Clearing Recon: which suspense, unapplied-cash or clearing accounts have a non-zero Posted balance at period end, or lack the expected account setup?
• Trial Balance Balance Recon: do Posted debits equal credits by currency?
• Duplicates & Reversals: are there repeated journal lines, duplicate source/link postings, whole-split plus per-link postings, or broken reversal relationships? Similar lines are not automatically erroneous duplicates.

Source-to-Journal Recon: start from the business record

Sources are selected by their source date within the period; matching Posted journals can have another date or period. Confirm recognition timing in the complete journal and GL Posting Recon.

One exception row identifies a source posting unit: an expense, income, subscription activity, investment activity, settled transfer, or cash split. A linked cash split is evaluated per link, using the linked record's category and allocated amount; it is not necessarily one journal for the entire split. Read Record together with its source type and Cash Split Link where applicable.

Compare Expected Amount with Posted Debits and Posted Credits, then inspect Journal Entries, Posting Rule and the expected/actual debit and credit accounts. Expected Amount follows the rule calculation: a valuation delta can differ from the source's headline fair value. The control also handles configured negative-amount side changes.

This is an exception list for eligible sources with an applicable active rule. Sources without a matching rule, non-postable amounts, unresolved entity attribution or incomplete links can fall outside its population. An empty result does not establish that every business record has a posting rule or was recognized. Periodized expenses/incomes can receive only a journal-presence check when their initial engine journal cannot be identified; absence of an exception does not then establish amount/account agreement.

Posting Rule Compliance: start from the Posted journal

One exception row identifies an existing source-linked Posted journal. It reviews journals assigned to the selected period or dated within it. Read Source Type, Source Record, Rule Source Type and Cash Split Link together: a cash-split journal can use the linked activity's rule context.

Review missing or overlapping applicable rules, missing source/category, unresolved split links, and expected versus actual GL accounts. Multiple debit/credit accounts are a Needs Review case requiring context. Rule selection considers source, trigger, category, entity and effective dates; it prefers entity/category-specific rules over broader defaults.

This is not a missing-source-posting queue. Manual journals without a source and recognized reversal pairs are outside its population; periodized expense/income amortization journals are excluded unless they are the initial engine posting.

A separate fictional reporting example: Cedarbridge Reporting Example LP, July–September 2026, still Open. Posted journals #2 and #3 are Blocked because no active rule matches their source context. These prepared example journals illustrate the exception; they do not demonstrate execution of a posting workflow.

Example: in Cedarbridge Reporting Example LP for July–September 2026, Posting Rule Compliance identifies journals #2 and #3. Journal #2 links to subscription activity #5 for USD10,000; journal #3 links to investment activity #3 for USD4,000. Read Issue Description, Source Type and Source Record, then inspect the complete journals in Accounting Operations. Both journals are already Posted, so investigate the applicable rule and source context before requesting a reversal or repost. Source-to-Journal Recon can remain empty when the sources have no applicable rule; that does not resolve these compliance exceptions.

Suspense & Clearing Recon: review the period-end balance

Suspense and clearing accounts hold amounts awaiting identification, application or an offsetting stage. Their ending balance asks what remains unresolved through the cutoff, including earlier history. A legitimate timing balance needs an explanation and owner; forcing it to zero would conceal the remaining work.

One balance exception represents a control GL account and currency. Ending Balance is cumulative Posted debit-minus-credit activity through period end, including opening history. Draft and future-dated entries are excluded. Latest Activity can predate the selected period.

Use Control Type, Classified By and Report Group to understand why the account is included. Classification uses suspense/clearing report groups, unapplied-cash posting rules, and code/name fallbacks. A separate setup exception can appear when no active control account is found.

A residual may need cash application, an offsetting settlement or a documented timing explanation. Have the owner review the underlying entries; do not clear a valid balance simply to remove an alert.

Duplicates & Reversals: inspect the complete relationship

Repeated-looking lines can arise from a legitimate multi-line or periodized event, while the same source posted through two routes can duplicate recognition. A reversal should undo the relevant accounting effects with the original relationship intact. Inspect the complete pattern and dimensions to distinguish these cases before requesting a correction.

Read Control Type before interpreting a row: it can represent a repeated-line group, a duplicate source/link posting group, or a reversal issue. Use Journal Entries, Sample Journal Line Id and Reverses Journal to identify the complete evidence. These rows and their Amount Variance are not additive measures of cash or fund exposure.

The control distinguishes per-link cash-split postings from whole-split postings and flags the same split posted through both routes. Periodized expense/income sources are excluded from the duplicate-source test because amortization can legitimately create several journals.

Reversal checks look for the original/link and equal-and-opposite amounts by GL account, currency, share class, investment, bank account and subscription. A settlement-lineage link is not treated as a reversal merely because it uses the same relationship field; the reversal checks also inspect journal status. Investigate the reported pattern before requesting an authorized correction.

Read Issue and Suggested Action, not just Status or Severity. These checks use different tolerances and inclusion rules; do not apply a blanket one-cent rule to every GL control.

Investigate a break

1. Identify the exact source and journal IDs before changing anything. The same ID in another table is a different record.
2. Inspect the complete journal in Accounting Operations → Journal Entries / Journal Explorer. A balanced draft is still Draft and is excluded from Posted GL balances.
3. For a settlement or bank-account issue, trace Cash → Transaction Explorer and the relevant Cash Recon layer.
4. Ask the owning operator to correct an independently evidenced source, link, dimension or journal issue through the authorized workflow. Read suggested actions in context; inspect existing journals and reversals before creating another entry.
5. Refresh the original check at the same scope, then repeat downstream NAV, fee and capital checks affected by the correction.

The fictional example includes a USD1,200 expense with a balanced Draft journal. That is useful review evidence, not Posted recognition. Its existing cash link does not post the journal, and posting the expense would not by itself prove all cash accounting is complete.

Ready to continue

Continue to Gross NAV when the expected population is accounted for and differences have an evidenced resolution or an assigned review decision. Clean checks, reviewer approval, journal posting, row locks and period status are separate facts.