Operating Activity
Use Accounting → Accounting Operations → Operating Activity to inspect the operational records and participation relationships that accounting work depends on. These are the same underlying business records used in FundOps, not a separate ledger.
Begin with the event being accounted for. An expense records a cost and its service information; income records an earning event. These source facts support the amount, timing and classification that accounting must assess. A bank settlement is separate evidence about payment or receipt.
Participation records answer a different question: who owns or participates in the covered item. The scheme names the arrangement, an entry identifies an owner and its share, and an allocated item identifies what is covered. The owner and item types matter because the same ID can identify different kinds of record. An accounting allocation run may later use an approved basis to calculate period results; the participation rows are not those calculated outputs.
Set Entity and Period
Select Entity and Period, then wait for all five sections to finish loading. Period can be selected automatically, so confirm its dates and status rather than assuming it is the quarter you intended. Each table also has its own Search, Filter and Sort controls.
Fictional Cedarbridge Example Fund LP #1, July–September 2026. Expense #1 is USD1,200 dated August 31. Scheme #1, Entry #1 and Allocated Item #1 describe Class A's participation in Harbor Example Software. Income is collapsed to keep the example compact; expand it to inspect that table.
Follow the records
- Expenses: one expense record, with Expense Date, category, description, amount, currency, vendor and service-period details.
- Income: one income record, with equivalent income-date and supporting details. Expand the section even when another table is your starting point.
- Allocation Schemes: one named participation arrangement, with its effective and finalization dates.
- Allocation Entries: one owner allocation in a scheme. Read Owner Type and Owner ID together; the same number can refer to different record types.
- Allocated Items: one covered item attached to a scheme. Item Type and Item ID identify what the scheme covers.
In the example, Cedarbridge Core Participation #1 has Share Class #1 as its owner and Investment #1 as its covered item. Allocation Percent is displayed as the stored fraction 1.0000000000, meaning 100%, not 1%. This participation relationship is distinct from a period's accounting capital-allocation run or investor capital-account movement.
The USD1,200 expense is a separate source record. The investment participation shown below it does not imply that this expense is allocated through that scheme. The sections are independent tables, not a parent/child selection view.
Understand what the Period filter includes
The tables use different dates:
- Expenses and Income are included by Expense Date / Income Date within the selected period, not by overlap of their service-period start/end dates.
- Schemes use scheme Effective Date; Entries use entry Effective Date.
- Allocated Items use their scheme's Effective Date.
An older arrangement can remain economically relevant but be absent from this period's list. Widen or clear Period to investigate it; do not move its effective date just to make it appear.
Entity scoping for the allocation tables follows Entry owners of type Share Class, or Subscription through its Share Class. A new scheme with no matching entries, or entries owned directly by an Entity, may not appear under the selected Entity. Check the owner relationship before treating an empty table as missing data.
Distinguish source, settlement and accounting
Recognition determines when a source affects the ledger; settlement records the cash movement that pays or receives it. A service-period expense can therefore be recognized over different dates from its payment. Inspect source dates and service information, then trace the actual journals and cash links to see which stages have been recorded.
Expense #1 already has a separate USD1,200 cash-payment association in the fictional Cash records. That link explains settlement lineage. It does not prove that expense recognition or payable settlement has been posted to the GL.
The associated recognition journal is Draft. The expense has a cash-payment link, but the example does not show posted expense recognition or the complete payment-accounting chain. Inspect the journal's status and lines separately from the source and cash records.
Use Incomes & Expenses to maintain the expense or income source and its Record Explorer to investigate source, cash and accounting relationships. Use Allocations for participation records, and this app's Journal Entries / Journal Explorer for accounting evidence. Check existing records before adding another source or journal.
These tables are editable where permitted. Saving changes the underlying business record. Automatic follow-on processing depends on your organization's configured workflows and agent triggers; a saved source row is not proof of posting. Preserve factual dates and amounts, make only authorized corrections, then refresh both the source and its downstream checks. A row selection supplies context; it is not an approval or posting action.