The GP's books, reconciled to the funds.
Management fees, carry receivable, expense reimbursements and GP entity accounts, tied to the fund ledgers they come from.
What is management company accounting?
Management company accounting is the bookkeeping for the GP's own business — the adviser entity and GP vehicles — as distinct from the funds it manages. Its revenue comes from the funds (management fees, carried interest), so it must reconcile to fund-level calculations every period.
The fee a fund pays and the fee the management company receives are the same number seen from two sides. When they live in different systems, someone reconciles them every quarter. FUN/D posts both sides from one calculation. Firms that prefer to keep a general-purpose GL for the management company can sync fee and expense entries to QuickBooks or NetSuite instead.
FUN/D is the books-of-record product from the company behind InvestorPortalPro: where IPP is a portal for firms whose accounting lives elsewhere, FUN/D is the ledger, with the portal as its read side.
Fee income
Management fees post to the management company as the fund accrues them.
Carry receivable
Accrued and realised carried interest by fund and carry vehicle.
Expense reimbursement
Fund-chargeable expenses paid by the manager tracked and recovered per the LPA.
GP entities
GP commitment vehicles and carry vehicles with their own books.
Intercompany
Due-to/due-from between funds, GP and management company reconciled automatically.
Sync option
Push entries to QuickBooks Online or NetSuite if you keep your existing GL.
Questions we get about this
Do we have to move our management company books into FUN/D?
No. Many firms sync fee and expense entries to their existing GL instead.
Related reading
Management fee and fund expense allocation · Fund accounting software · Management fee
See FUN/D on your own fund data.
One conversation, no deck, no seat count. Tell us the structure and we'll show the platform running it.
Talk to us
Name and work email. We reply within one business day, from a person.
Sent.
Someone from FUN/D will email you within one business day. If it's urgent, call +1-212-658-0862.