Integral to pControl's design is a single record ledger framework designed for individual fund entities or consolidated entities operating interfunded investment structures.

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 updated 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.

Account & Transaction Management

  • Chart of Account framework supporting account groups, sub-groups, account types, tax categories and external code allocations
  • User configurable transaction type maintenance
  • Client specific transaction types behaviour may be configured on implementation
  • Account allocation during transaction processing is maintained and viewed on the transaction.  This is configured based on the transaction

Single Transaction Record Ledger 

  • Single transaction records overcome the need for periodic reconciliation of journal differences between operational, accounting and tax ledgers
  • Single transaction records are coded for multiple account dates to support grouping and financial reporting by:
    • Effective Date for operations
    • Accounting Date for accounting
    • Tax Date for tax reporting
    • Cash Settled date for cash flow management and reconciliation

Period Close & Year-End Processing

  • Account period close management including controls over re-opening and closing of accounting periods subject to user authorization levels
  • Definition of financial year end and tax year end periods specific to individual fund entities or fund groups
  • Automated Retained Earnings management with no requirement for year-end rollover with support for reporting across financial years

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.

pControl's single record Fund Ledger is fully integrated with pControl's Gain / Loss Management, Account Views and Jurisdictional Tax Framework functionality.