GP · Management company · Monthly
Monthly expense claims
The month’s expense claims are checked, decided and booked, with missing receipts sent back and the items the fund may bear under the LPA flagged.
PlanMonthly expense claims
Review every claim
HeldOperator checks each claim for missing receipts, duplicates and policy limits, flags what the fund may bear under the LPA with the clause, and drafts the entries.
OperatorReview the flags
HeldYou go through the flags and the items to charge to the fund before anything is returned, approved or booked.
PersonGP approvesSend back what needs fixing
HeldReturns each claim with a missing receipt or a duplicate to the person who made it, with the reason.
API actionper claimGP approves all in one goApprove the clean claims
HeldApproves every clean claim in one go. A claim edited after you approved comes back on its own.
API actionper claimGP approves all in one goBook each approved claim
HeldPosts each approved claim to the management company’s books, or to the fund’s where the LPA allows it.
API actionper claimAccountant approves all in one goCheck the returned claims
HeldReads the returned claims again. Any still open roll into next month’s run.
API actionWaits 3 business daysPay the reimbursements
HeldYou pay the reimbursements from your bank and mark them paid.
PersonGP approves
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
- GP
- What starts it
- Month end, once the team’s expense claims are in.
- How often
- Monthly
- Vehicle
- Management company
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 out October’s expense claims.
- You
Approve the team’s clean expenses and send back the ones without receipts.
- You
Which of this month’s expenses can we charge to the fund?
The outcome
Every claim this month is approved, sent back with a reason or left with you, and every approved claim is booked to the right ledger.
What it proves
- Reads every claim and cites the LPA clause for anything the fund may bear.
- Returns, approves and books nothing until you have reviewed the flags.
- Approves every clean claim in one go, and brings back one that was edited since.
- Books each claim to the management company or the fund, as the LPA allows.
- Waits three business days for fixed claims without anyone watching.
- Shows each team member only their own claims; you see all of them.