From Source Data to Accounting

A fund may receive a notice before payment, a payment before an explanation, or an invoice that will be paid next month. OpenAdmin keeps the evidence, the operational event, the cash movement and the accounting treatment connected. Each answers a different question.

A call creates an amount due

A capital call records an expected amount due from a subscriber under a subscription. The subscription identifies the subscriber's participation in a fund share class; the call adds an obligation and due date to that participation. A supporting notice explains the expectation. A contribution records funding against it, and the cash link connects that funding to bank evidence. Expectation, funding and evidence remain separate records because they can arrive on different dates or in several parts.

In the fictional Learning Sandbox, Cedarbridge Core Subscription #1 belongs to Class A of Cedarbridge Example Fund LP. Its Capital Call activity #2, dated July 1, 2026, records USD100,000 due. Its Contribution activity #3, dated July 5, records the funding. These are existing saved activities, not a demonstration of issuing a notice or processing a payment.

The call and contribution demonstrate the distinction between the amount requested and the funding recorded. Their presence alone does not prove that a notice file was saved or that bank cash supports the funding; those relationships must also be inspected.

When USD100,000 reaches the fund's bank account, the imported bank activity provides evidence of cash received. An internal account transaction records the movement, and a cash split identifies the amount and economic owner. A Contribution activity records the subscription's funding and references the call it settles. The cash-split link connects that funding to the bank evidence.

In this saved example, Feed #1, Account Transaction #1 and Cash Split #1 show +USD100,000, and Split Link #1 connects the receipt to Contribution #3. The contribution displays −USD100,000 under its activity sign convention. Those amounts describe one funding event.

There are now two questions you can answer: has the call been funded, and can the funding be traced to cash? In a separate hypothetical partial-payment example, a USD60,000 receipt against a USD100,000 call supports USD60,000 of settlement. The remaining USD40,000 still needs payment or another supported explanation.

For the cash records and the checks between them, see How the Cash System Works.

Accounting gives the event its financial treatment

Accounting records debits and credits for supported events and settlements. A posting rule specifies how an eligible source event maps to GL accounts and relevant dimensions, such as its entity, class or subscription. The rule supplies the accounting treatment; the resulting journal must still be reviewed in its own status.

For the saved Cedarbridge receipt, Cash → Transaction Explorer displays Posted on Account Transaction #1 but Missing journal in the Accounting stage. It has found no linked journal through this chain. The transaction status therefore cannot establish posted accounting.

When a journal does exist, inspect its source, amount, date, currency, accounts and status. A Draft journal is available for review. A Posted journal has entered the posted books. A cash match alone does not prove either that a journal exists or that it is Posted.

Accounting can also recognize an event before payment. For example, an invoice can support an expense and an amount owed while the bank account is unchanged. A later payment settles the obligation. Do not delay recognizing an unpaid item merely because no cash match exists.

Continue to How Accounting Works for the accounting model and Accounting Setup for its setup.

Follow the evidence in either direction

Use the notice or invoice to check what should have been recorded. Use the bank statement or feed to check what cash moved. Then follow their links to the operational records and accounting entries.

The review follows each relationship to answer a different question: who participated, what was due, what was funded, what cash supports it, and how it entered the books. For the saved Cedarbridge call and receipt, that means:

1. Confirm Cedarbridge Core Subscription #1 points to Class A of Cedarbridge Example Fund LP.
2. Compare the call activity with the notice's USD100,000 amount and due date.
3. Compare the contribution with the cash amount applied to it. Follow the split and transaction back to the imported receipt.
4. Review the accounting entry separately, including whether it is Draft or Posted.
5. Review the intended report in the same entity, period and currency. Identify whether it reports operational activity or posted accounting before interpreting its amount.

These steps inspect existing records. The receipt is linked; the explorer still reports Missing journal. The separate Draft expense journal elsewhere in the core fixture does not account for this contribution.

Investigate a gap where it starts

A missing notice, an unlinked receipt and a Draft journal are different unfinished jobs. Correcting one does not complete the others.

Use Cash & Fund Operations Reconciliation to investigate missing or invalid relationships and mismatched amounts. Preserve valid timing differences, such as an unpaid call before its due date. If operational records agree with cash but the accounting entry is missing or incorrect, continue in Accounting rather than changing correct cash records.

The handoff is complete for the scope under review when the source evidence supports the operational event, required cash is explained, the accounting treatment has been reviewed in the intended status and the resulting output agrees. Posting, reconciliation, record locking and period close remain separate actions.