7.29.26 - 2 Fund Accounting (NAV) and CRM Management Protocols

Allocation Rule Codes and Student Investor Filters

  • Allocation Rule Codes: These function as parameters within the system to determine how journal entries or capital calls are distributed among investors. Each rule code possesses unique criteria and parameters.

  • Common Allocation Methods:

    • By Commitment (Pro Rata): Allocation is based on an investor’s committed capital relative to total fund commitments. For example, in a $100$ fund call, an investor who provided $2$ out of $5$ units pays $40$—calculated as 25×100\frac{2}{5} \times 100 —while others pay $10$ each.

    • By Type: Filters investors by specific categories, such as LP (Limited Partner) only or GP (General Partner) only.

    • By Pool: Groups investors into segments (e.g., Pool A, Pool B) with pre-defined percentage responsibilities, such as Pool A paying $50\%$, Pool B $25\%$, and Pool C $25\%$.

    • User Defined: Used when no mathematical pattern or formula exists; requires manual input of specific dollar amounts for each investor.

  • Ticket 33394 Technical Issue: A rule code failed to select investors because the filter used an asterisk (*\text{*}) as a wildcard to identify strings containing class a. This resulted in an error stating none of the investors were selected.

  • Workaround Solution: If automated selection fails, users can utilize manual investor selection filters to exclude specific criteria (e.g., removing all Class B pools) to proceed with entries temporarily.

System Permissions and Ownership Management

  • Firm Record Security: In the Standish database, firm cards (containing tax and identifiable information) are shared. Incorrect imports can negatively impact other teams, making administrative control critical.

  • Ticket 33402 and 33419 (Access Denied): These errors typically occur when a user lacks the necessary privileges to import or edit firm records.

  • The Role of Owner Fields: When a new fund is created, the system defaults the Owner to Managed Services. To gain permission to edit or import, the team must request SIS Ops to change the owner to the specific team (e.g., Park Road).

  • Ticket 33491 (Contact Records): Users often encounter errors because they are not listed as the owner of a contact. Records should be owned by the Team (identified by a three-person icon) rather than individual mailing accounts to ensure access across the group.

  • SIS Ops Protocol: For follow-on funds (funds created after the initial onboarding), teams must proactively notify SIS Ops to update ownership to prevent permission-related roadblocks.

Account Schedules and ILPA Reporting

  • Account Schedule Modification (Ticket 33251): Because there is no "undo" function for changes made directly to account schedules, the established best practice is to export the original schedule to Excel before making edits. This serves as a recovery point for future reference.

  • Change Logs: The system maintains a detailed log of every keystroke in the fund accounting database dating back to approximately 20142014-20162016. While accurate, these logs are difficult to navigate and time-consuming to filter.

  • ILPA Reporting Standards: ILPA (Institutional Limited Partners Association) reports follow standardized formats vetted by AllView.

  • Transfer Logic in Reports:

    • Partner Transfers: These lines use specific source codes to zero out activity for an LP that has transferred out of a fund.

    • Logic Operators: Reports use symbols like the triangle brackets (<>\text{<>}) to signify "not," allowing the system to separate standard activity from transfer activity in calculations.

Questions & Discussion

Associate: So they don't have access because it's not actually added to their client card or they aren't in the team's client card? What is the other possibility regarding how owners work? Terry: The other possibility is that if it is a new fund, they never sent in a request to change the owner from managed services to their specific team. When you create a fund in fund accounting, it automatically creates the investing entity, but you must reach out to SIS Ops to update the owner so you have permission to edit it.

Associate: Should my response just be to fix the owner and let them know? Terry: No. We need to "teach people how to fish." Explain that the error occurred because the owner hasn't been changed, and they must reach out to SIS Ops for future fund creations. We provide a proactive solution for the future alongside the immediate fix to prevent recurring tickets.

Associate: On Ticket 33251, the user wants to clear out values in column O and says the rows in column E require updates. The old and new tabs don't seem to line up. Terry: Export the current account schedule from the system first to verify what is actually live. The user may be trying to remove transfers lines that are part of the standard ILPA template. We need to verify if those changes are accounting-valid before implementing them, especially since those templates were created by Cameron and are meant to be standard across clients.