Fund Accounting capabilities in pControl are designed to automate accounting processes on multi-tiered / multi-asset pooled product structures and overcome the challenges inherent in traditional fund accounting systems where having separate ledgers for operations/settlements, accounting (or tax) can lead to increased overhead in reconciliations.

Fund Ledger

pControl's Fund Ledger provides a flexible chart of accounts and transaction infrastructure which may be leveraged by all functionality within the pControl suite. This allows other business processes to update balances and have Account Views report Trial Balance, Statement of Financial Position (Balance Sheet), Profit and Loss Statement, Statement of Cashflows and other related workpapers or financial accounting requirements.

Fund Accounting Sub-ledger

Where an organisation operates an enterprise or corporate wide General Ledger for accounting, the Fund Ledger can act as an interfunded sub-ledger to overcome the need for the enterprise GL to directly undertake fund level accounting activities.  In this sub-ledger configuration, the Fund Ledger exchanges balances and journals with the enterprise GL and other transaction sources.

Account Views

Account Views delivers reporting for any financial account within the Fund Ledger, and provides fund accountants with a library of standard accounting and tax views, or the ability to create customized views to meet specific client reporting needs.

Account Views are hierarchical and report on the opening balance, movement or closing balance of any account or account group that has been updated from within pControl, or from externally imported values. Advanced navigation features allow for ‘one-touch’ drill through from an line item to individual accounts, specific transactions or workpapers supporting the value for online queries and audit trail purposes.

Gain / Loss Management

Gain / Loss Management manages the realized and unrealized gains and loss positions for accounting or tax purposes.

In conjunction with the Fund Ledger processing and Jurisdictional Tax Framework, this:

  • Overcomes the need to maintain separate ledgers for accounting or tax, and eliminates the overheads of manual ledger reconciliation through the single record ledger framework for investment holdings, accounting gain / loss or tax gain / loss calculations.
  • Manages automatic updates to purchase cost on application, and realized gains / losses upon sale or redemption.

Gain / loss workpapers, journals and Account Views for realized gains and loss positions are instantly updated when orders are processed regardless of whether these originate from within pControl or are imported as transactions or via manual entry.