Fees & Capital Allocations
Accounting → Fees & Capital Allocations
A subscription can be funded while its investor capital ledger is still missing. A fee run can be calculated while its journal has not been posted. Use this app to find the particular record or relationship that is missing between an operational event, its accounting and its recipient.
When to use this app
Use coverage controls to establish who is represented, movement controls to trace what reached their accounts, and GL comparisons to test whether the investor ledger and the fund's accounting tell the same story. These are successive views of the same economics, not independent sources of additional NAV.
Keep Entity and Accounting Period consistent as you follow a result. Start with Subscription Coverage when an investor has no capital-account history, Txn Posting when a recorded capital movement needs its source and journal checked, or Fee Calculation when a fee run's inputs and lifecycle need review. The ordered tabs below provide the wider route through the book.
Understand the records
A subscription identifies an investor's contractual participation. Its capital account is the accounting record against which that investor's signed movements accumulate. Contributions increase capital; distributions and charges can reduce it; allocated earnings or losses change it without a new bank movement. Before interpreting a balance, establish that the intended subscriptions have the required accounts and that their movements were recorded.
Fees and accounting allocations introduce another step. A run identifies a calculation and version; its lines assign results to recipients. Those results still need the appropriate journal and capital effects. A correct run total can conceal a wrong recipient, and a correct capital balance can coexist with a missing Posted journal. The tabs separate these questions so that the owner can correct the broken link rather than add an unexplained balancing amount.
In the core fictional example, Subscription #1 is active and has funding activity, but Subscription Coverage reports zero capital accounts. Class Roll-Up therefore shows one active subscription and no covered subscription, while Roll-Forward has no account row to show. The blank bridge follows from a missing registry relationship; it does not value the investor's interest at zero. The accounting owner must resolve coverage before movements and balances can be reviewed.
Once accounts exist, follow their dated movements in Roll-Forward and compare them with Posted GL evidence in Equity Tie-Out and Gross NAV. For fees, inspect the run's calculation first, its journal in Fee Posting second, and each fee line's intended recipient effect in Fee Recipients. For accounting allocations, Allocation Tie-Out compares the source P&L with a run's total; Allocation Recipients and Txn Posting test the downstream capital effects. These views overlap economically, so their amounts are not additional amounts to add together.
Tabs
Where to continue
These controls inspect existing records and outputs; they do not calculate, finalize or post. Use authorized installed workflows for execution, then return here to inspect persisted results. Use Accounting Review & Close → Fees or → Capital Allocations to review the period outcome.
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