FUND ACCOUNTING

Concept Fund Services offers an extensive range of customized accounting solutions utilizing Advent Geneva software for your fund. Specific report types are prepared based on the fund structure and manager preference. For most of our clients, Fund/Partnership Accounting Services include the following:​

• Preparing fund’s monthly/quarterly financial statements, including balance sheets, income statements, partner’s capital allocation schedules, and fund performance schedule.

• Preparing monthly/quarterly investor statements.

• Recording expenses and capital transactions in accordance with US GAAP (including accruals, subscriptions and redemptions).

• Reconciling cash accounts with statements provided by prime brokers and/or custodians.

• Maintaining a record of each investor’s capital balance and allocating profits and losses in accordance with the most current limited partnership agreement (or equivalent) provided by the fund.

• Calculating management fee and incentive allocation/carried interest based on the fund’s governing documents.

• Liaising with the fund’s tax advisor and independent auditors, as well as providing accounting records to assist in the preparation of the fund’s annual income tax returns and annual audits.

• Providing capital call and distribution notices to investors.

• Distributing investment capital calls and collecting investment deposits.

• Calculating waterfalls.

• Assisting with valuations.

• Monitoring liquidity needs.

• Preparing ad hoc reports.

• Preparing and reviewing financial statement.

COMPANY ACCOUNTING

In addition to our fund administration services, Concept Fund Services can also assist you with the accounting for the management company and general partner entities,  including:

• Managing financial software/general ledger packages

• Preparing monthly balance sheets and income statements

• Processing payroll for employees

• Processing income and expense accruals in compliance with management company’s operating agreement and in accordance with US GAAP

• Reconciling monthly cash accounts

• Paying invoices and collecting receivables

• Maintaining banking relationships

• Analyzing budgets

• Establishing internal control systems

FAMILY OFFICE ACCOUNTING

• Reconciling and maintaining detailed accounting records for personal and corporate entities.

• Providing a comprehensive and customized financial reporting package for each family member and or member group.

• Detailing out holdings and values of assets held.

• Processing accounts payable and managing vendor relationships.

• Developing and maintaining an annual budget and forecasting processes.

• Liaising with outside tax accountants and attorneys.

• Reviewing existing insurance coverage and pricing, discussing areas for improvement and implementing changes, if appropriate.

• Interacting with your insurance broker, overseeing periodic reviews and providing support on claims management.

• Creating an inventory of valuable assets, including fine art and jewelry, with current appraised values and coverage.

• Administering payroll and related human resource functions.

• Facilitating new hire recruitment as well as on-boarding and off-boarding services.

• Developing employee handbooks detailing family policies.

• Coordinating with domestic staff across a range of matters, including budget management and household requirements.

360 Madison Avenue, New York, NY 10017

212.832.0400

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One Jericho Plaza, Jericho, NY 11753

516.931.3100

For any general inquiries, please fill in the following contact form:

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