Accounting Operations
Accounting → Accounting Operations
An operating record says what happened in the fund. Accounting records how that event affects the ledger. Use this app to inspect the source, its proposed or Posted journal, and any resulting investor capital movements; use Accounting Setup when the accounts, period or posting configuration need review.
When to use this app
Choose entity and accounting period before reading a queue or journal. A saved draft journal is not posted; inspect the supported action result and persisted journal status.
Understand the records
An expense source records the vendor, amount, date and service information. Recognition translates that source into GL classifications: the expense records the cost and a payable can record the obligation. Paying the vendor later changes cash and clears the obligation. These can occur on different dates and use different journals, so cash settlement does not establish recognition and recognition does not establish payment.
A journal groups the debit and credit lines for an accounting event. Draft stores proposed accounting; Posted is the status used by Posted-ledger controls. Capital accounts then record investor-level effects where applicable, while valuation records and allocation runs supply accounting marks and calculated recipient results. Follow the record appropriate to the question rather than treating any one saved record as the whole process.
Follow the core fictional expense dated August 31, 2026. Operating Activity shows Expense #1 for USD1,200. Journal Entries shows journal #1 with a USD1,200 expense debit and a USD1,200 payable credit. Both lines belong to one balanced journal, and the journal is still Draft. The proposed accounting has been saved; Posted expense recognition has not been established.
The expense also has a cash-payment association. Journal Explorer lets you follow that separate relationship to Cash Split #3. A payment link and a Draft journal answer different questions: inspect both before deciding what accounting remains. Posting shows the existing Draft rather than offering the source as a new candidate, so an empty queue is not completion evidence.
Capital Accounts and Valuations & Allocations are the later accounting records and outputs to inspect when the question concerns investor balances, accounting marks or an allocation run. A participation scheme or a source record does not create proof of those outputs.
Tabs
Where to continue
Use Fees & Capital Allocations for detailed controls, Accounting Review & Close for period review, and Reports for reporting.
Return to Base Apps.