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What We Do

What We Do

Fund Accounting


Concept Fund Services offers an extensive range of customized accounting solutions utilizing Advent Geneva software to provide the highest quality of service. Specific report types are prepared based on the fund structure and manager preference. Our comprehensive fund/partnership accounting services include:​

Accounting and Administration

  • Maintaining books and records
  • 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
  • Monitoring liquidity needs
  • 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
  • Preparing bank reconciliations


Financial Statement and Budget Preparation

  • Preparing fund’s financial statements, including balance sheets, income statements, partner’s capital allocation schedules, and fund performance schedule
  • Preparing monthly/quarterly investor statements
  • Calculating waterfalls
  • Preparing annual budgets


Investor Reporting

  • Preparing investor-specific quarterly reports requested by institutional investors
  • Disclosing geographic and asset diversification
  • Providing access to real-time reporting via secure internet portal