Important Note: Make sure that all contributions and distributions are correct and have been processed in Salesforce before beginning generating capital accounts. There is no entry field for Contributions and Distributions, these are pulled from the system.
Capital Account Statements can be generated directly from any Fund's page by following the steps below:
On the Fund record:
- Click Capital Accounts.
- The input screen for the capital accounts will open. Enter the date of the capital account, and the quarterly change in each category.
- For example: if you are creating the capital account for the quarter ending 12/31/16, you will be inputting the Management Fee from the period 10/1/16‐12/31/16.
- Expenses and reductions to the capital balance should be input as negative numbers. Income and additions to the capital balance should be input as positive numbers.
- If your fund has the same allocations for all Investment Vehicles, you can click the 'Include All Commitments' checkbox, and the expenses entered will be allocated pro rata across all Investment Vehicles. If you have classified investor groups, leave this box unchecked, and you can manually adjust allocations.
- Click Next to view the allocation.
- The next screen allows you to review the allocations to make sure that they tie to your LP Allocations from your financials. At times, these numbers will not agree due to different allocations for groups of LPs
- For example: late admission penalties that are charged to some, to the benefit of other, or reallocation of prior year income and expenses from prior LPs to new LPs. You can manually adjust the allocations to match your financials.
After matching the screen to your allocations:
- Click Confirm and Save to create the capital account.
- Once the capital account has been created, go back to the Fund page. Scroll down the page until you see the section for Capital Accounts, and click on the Capital Account you just created.
- Review the Capital Balance to make sure that it agrees to your LP Allocations in your financials. If it is incorrect, you can click on the Capital Account Name to review and modify the details.