Fund Administration Cash Reconciliation

Reconciliation Summary

A one-look roll-up of the fund, account, currencies, period, the two closing balances, net reconciling items, residual variance, and status so a reviewer can orient before reading the detail.

Account and Period Information

The account, its purpose and currency, the fund base currency, and the opening and closing balances that bracket the period, with the account number masked to the last four characters.

Fund Activity Capture

The expected cash events read from capital call, distribution, trade, and fee notices, classified and signed, that the bank statement and ledger are matched against - the activity-capture stage folded in as an input.

Bank Statement Transactions

Every line on the bank or custodian statement, normalized across formats and signed, forming the external record for the reconciliation.

General Ledger Cash Entries

Every cash-account entry the administrator booked in the general ledger for the account and period, forming the book record matched to the bank.

Transaction Matching

The core match of each bank line to its ledger entry and expected event, supporting one-to-one and one-to-many sets, with date and amount variance, tolerance, and a match status for every item.

Reconciling Items

The legitimate timing and unbooked items that bridge book to bank - deposits in transit, outstanding disbursements, unbooked fees and interest, FX and timing differences - each aged and flagged as self-reversing or needing a booking.

Multi-Currency and FX Reconciliation

The currency and FX assessment where the account currency differs from the fund base currency, isolating rate and value-date mismatches between book and bank and the resulting realized and translation differences.

Book-to-Bank Reconciliation

The formal footing: book balance plus receipts in transit and unbooked income, less outstanding disbursements and unbooked fees, adjusted for FX, tied to the adjusted bank balance, with a math check that names the driver when it does not foot.

Net Book-to-Bank Variance

The single signed residual variance in account currency after all legitimate reconciling items - zero when the account fully reconciles, and the unexplained break to clear when it is not.

Exceptions and Unmatched Items

The ranked list of true breaks - unmatched bank or ledger items, expected events missing from the bank, mismatches, duplicates, wrong-account postings - each with severity, aging, root cause, and a recommended action.

NAV Impact Assessment

How unreconciled cash and required corrections affect the period net asset value, including cutoff and accrual issues, materiality versus threshold, and whether the reconciliation supports striking NAV or must be held.

Reconciliation Controls and Sign-Off

The control posture - preparer and independent-reviewer model, materiality and aging thresholds, cutoff date, documentation completeness, carried-forward open items - and a ready-to-sign or hold recommendation.