Allocation Tie-Out
Period earnings belong to the fund's accounting before they are assigned to investor capital. An accounting allocation takes a defined source pool of income, expense and gains and distributes it among recipients under the applicable basis. Before reviewing each recipient's capital movement, establish that the run distributed the same pool that the GL recorded for the class and window.
Open Accounting → Fees & Capital Allocations → Allocation Tie-Out to compare that Posted P&L pool with the selected run's stored components. It checks total distribution of the pool; the recipient and posting controls examine where the result went.
Choose the period and version
Choose Entity, Accounting Period, optionally Share Class, Allocation Run and Recon Status. By default, this tab selects the latest non-voided version for each class whose Start Date and End Date exactly match the period; the run ID breaks ties between matching versions. Selecting an earlier Allocation Run lets you investigate that specific version instead.
The fictional period has no Posted P&L pool and no accounting allocation runs, so All shows no rows. Draft expense journal #1 does not enter the posted source pool. The existing FundOps participation scheme is not an accounting allocation result.
Read the reconciliation
Use non-closing P&L because closing journals transfer balances between accounting presentations rather than create another period's earnings to allocate. Credits contribute positively and debits negatively to this source pool. The recipient components use their signed net result. Allocated Total less Source P&L Total is the amount distributed above or below that source pool. A percentage total of 100% can still allocate the wrong amount or use the wrong recipients.
A row represents a class/source-P&L pool and its selected run. It can also show a missing-run exception when posted P&L exists without a corresponding run.
The source pool uses Posted, non-closing income/expense journal lines within the period, with credits positive and debits negative. It is not raw cash activity.
Allocated Total sums the run lines' stored income, expense, realized and unrealized components. Variance = Allocated Total − Source P&L Total. Review Currency, Recipients, Allocation Percent Total, Run Status, dates and Version alongside Status / Recon Issue.
Suppose Posted, non-closing P&L in one class/currency contains USD500 income and −USD200 expense for the period. Source P&L Total is +USD300. If the selected run allocates +USD280 across its recipients, Variance is −USD20. Check the Posted source lines, run components and intended recipient population to explain the 20; a 100% percentage total alone does not resolve the amount difference. This is hypothetical arithmetic, separate from the empty core example.
Checks cover missing class dimensions, missing run or recipients, single/matching currency, percentage totals and amount agreement. Rounded amount differences greater than 0.01 fail; the implemented percentage tolerance is separate. Draft/computed runs show Needs Review. Ready does not universally require a stored Finalized status and is not a review approval.
Investigate the difference
- Open the Allocation Run reference and confirm ID, dates, class and version.
- Use Journal Explorer to inspect the Posted P&L source pool, excluding closing journals. Resolve missing/wrong class dimensions with Accounting.
- Use Allocation Recipients with the same explicit run ID to inspect individual recipient outputs and capital effects.
- Check the scheme snapshot and the authorized computation/review evidence. Correct the source or calculation through its owning workflow, then refresh.
- Verify capital posting separately; this total comparison does not establish each recipient's ledger impact.
Allocation Recipients has a broader default population: all non-voided versions whose run dates fit within the period, including subperiod runs. Its all-run totals need not match this tab. The run dropdown offers exact-period runs, so it may not enumerate every contained subperiod run.
All removes only status filtering; ignored exceptions and voided runs remain excluded. Do not sum successive versions as distinct economic P&L.