Fund admin · Fund · Quarterly
Quarter-end close for a client fund
Your quarter is hard-closed and its NAV frozen, with separate people preparing, reviewing and approving, then locked once the LP report is out.
PlanQuarter-end close for a client fund
Close the quarter’s last month
HeldRuns the monthly fund close playbook for the third month of the quarter.
PlanCheck calls and fees
HeldChecks that every capital call sent this quarter is booked, and Operator checks the fee accrual against the fund’s fee periods. An unbooked call stops the close until it is fixed.
OperatorPost the approved marks
HeldOperator reads the valuer’s signed marks schedule, and each changed mark is posted to the books behind one approval.
API actionper holdingAccountant approves all in one goPost accruals and review
HeldPosts the audit and admin fee accruals. A second fund admin, not the one who prepared the close, reviews and signs off the quarter’s adjustments.
API actionReviewer confirmsHard-close and save the reports
HeldTakes the period through the hard close, freezing the NAV, and saves the NAV, capital account and performance reports. An open required task stops the plan until it is done.
API actionAccountant confirmsFinish the post-freeze tasks
HeldA fund admin works through the remaining tasks on the close checklist, and the accountant signs them off.
PersonAccountant approvesApprove the close
HeldYou approve the close as the fund’s GP. The admins who prepared and reviewed it can’t approve it for you.
API actionGP confirmsLock the period
HeldLocks the quarter once the LP report is out, so nothing in it can change.
API actionWaits until the LP report dateGP confirms
The plan as it runs: each step waits for the one before it, and stops at its gate until the owner approves.
At a glance
Who runs it, and when
- Who runs it
- Fund admin
- What starts it
- Quarter end, with the hard close due 20 business days later.
- How often
- Quarterly
- Vehicle
- Fund
Ask Operator
Start it in a sentence
Ask Operator in chat. It drafts the plan for your fund, and nothing runs until you release it.
- You
Close Q3 for the client’s Fund I.
- You
Run the hard close for Fund II’s quarter.
- You
Freeze Q3 NAV and lock it after the LP report.
The outcome
The quarter is hard-closed with its NAV frozen and its reports saved, reviewed and approved by different people, and locked once the LP report is out.
What it proves
- Runs the monthly close playbook as its first step.
- Keeps preparing, reviewing and approving with three different people.
- Posts every changed mark behind one approval.
- Stops on an unbooked call or an open checklist task, and picks up once it is fixed.
- Waits for the LP report date before it locks the period.
- Shows you the status and NAV, and a junior admin only the count of open tasks.