Fund Accounting

Accounting gives each of your vehicles a real double-entry ledger and turns it into the numbers your LPs actually see. It is entirely optional: turn it on for one vehicle, or none, and the rest of the platform works exactly as it did.

Onboarding a vehicle

Accounting gives each of your vehicles (a fund, an SPV, a direct deal, a GP entity) a real double-entry ledger. Onboarding a vehicle means seeding the chart of accounts, then choosing how the books start. Full history rebuilds the ledger from inception out of your existing portfolio and LP data. Cutover starts at a date with opening balances. GP and associate entities get their own chart (investment in fund, members' capital, carried interest income) because they keep different books.

Bank transactions

Paste or upload a CSV export from your bank, Ramp, or QuickBooks. Columns are matched automatically, rows de-duplicated, and each becomes a balanced draft entry. AI suggests the account and entry type for a whole batch at once. An inflow can be booked as a capital call (funding one LP's open call, or split across every LP pro-rata by commitment), and an outflow as a distribution, split by capital balance so it lands in each partner's capital account rather than a pooled one. Nothing posts itself; every entry waits as a draft for you.

Journal

Every entry in plain double-entry form. Create, edit, post, unpost, void. A posted entry is never silently deleted, and an entry inside a closed period cannot be changed at all until the period is reopened. This is enforced in the database, not just in the app.

Capital accounts

A per-partner roll-forward: beginning capital, contributions, distributions, management fees, expenses, income, realized and unrealized gains, FX translation, carried interest, ending capital. All of it derived from the ledger, so it always ties. Issue capital calls, track called, funded and unfunded per LP, and publish per-partner capital account statements as PDFs straight to the LP portal.

LP capital events

Not every vehicle needs full books. An SPV, a direct investment, or a fund whose administrator sends you a statement can instead record LP capital movements directly, by hand or by pasting a spreadsheet. Those vehicles produce the same capital accounts, the same statements, and the same LP report as a fully-booked one, and can be promoted to a full ledger later.

Allocation terms

How the close splits each category across partners: the allocation basis, each partner's commitment over time (effective-dated, including transfers between LPs), and who bears which category (a GP entity that pays no management fee, a side letter with a negotiated rate). Carry terms are set per vehicle: none, a straight split, or a European waterfall with a preferred return and catch-up.

Period close

The single place allocation happens. Close through a date; the span splits into calendar months, and each is allocated and locked in turn, so gaps are impossible. The close allocates income and expenses to each partner's capital account, accrues interest on convertible notes, and accrues carried interest on unrealized gains, as if the fund liquidated at that period's NAV. That last part is what keeps every LP's reported NAV net of what the GP would actually take; without it, an LP's statement overstates what they would receive. Reopening a period reverses its allocation exactly, voiding rather than deleting.

Schedule of investments

Each position at cost and fair value, with its unrealized gain and its share of net assets, broken out by country, industry, and asset type. Rows come from your portfolio tracker and the ledger is the control total. Any variance between the two is surfaced, never hidden.

Financial statements

Balance sheet (statement of assets, liabilities and partners' capital), income statement, statement of cash flows, and statement of changes in partners' capital. Books that don't balance are reported as a blocker, not buried.

Live capital report

The LP report, derived from the books as of any date rather than frozen at import time, across every vehicle. A member who invests through your GP or associate entity is looked through to their share of what that entity holds: capital follows their ownership, carried interest follows their carry points, and the two are allowed to differ (a partner can hold carry points and no commitment at all). You can compare a live report against any stored snapshot, line by line, to see exactly where the two disagree.

AI assistant

An assistant scoped to your books: interpret a statement, reconcile an account, draft an entry. It proposes; it never posts. Everything it produces lands as a draft for you to review. An API-key-authenticated agent endpoint (REST and MCP) is available if you want an external agent to work against your books.