Partners allocate each cost to the management company or the fund at the moment of spend, while they still know what it was for.
Entity, fund and deal picked when the cost is incurred
The partner booking the flight picks a fund and a deal instead of a generic spend category. LP statements, the management-company P&L and the deal-cost schedules all read from that one choice.
- Entity chosen at capture by the person who spent
- Fund and deal stored on the transaction itself
- Broken-deal costs totalled the day the deal dies
Cards limited to one fund or one deal
Diligence providers, data rooms and legal retainers make up the biggest fund-chargeable category, and it's the easiest one to code wrong. Give a deal its own card and the coding happens on its own, with a running per-deal total.
- Cards limited to a fund, a deal or a person
- Data rooms on their own card, closed with the deal
- Corporate Cards coming soon; Expense Management covers today's cards
Why teams switch
Fund costs and management company costs end up in one pile.
Fund-chargeable costs and management-company costs come off the same cards and end up in one pile.
Each expense gets its entity, fund and deal at capture, chosen by the person who knows which deal it was for. Nobody has to infer the split at quarter-end.
We spend real money on a deal that doesn't close, then argue about where the cost belongs.
Broken-deal costs are tagged to their deal from the first invoice. When the deal dies the total is already there, and your LPA treatment gets applied the same way every time.
LP reporting stalls while we chase itemized receipts nobody kept.
Itemized receipts come in with the transaction and stay attached to the fund and the deal. An LP question gets answered without digging through card statements.
The products that do the work.
Each product works on its own, and when you run two, the same record carries from the receipt to the ledger entry.
Expense management
Capture receipts, categorize expenses and check policy compliance as expenses are submitted.
Accounts payable
Accounts payable automation that reads each supplier invoice, codes it and matches it to the purchase order before anyone is asked to approve payment.
Accounting automation
Accounting automation software that codes each transaction and posts the journal entry to your accounting software the day it happens.
FAQ
Frequently asked questions
What people ask us before they sign up.
Get started
Allocate to the fund when the cost happens
Code entity, fund and deal at capture for one quarter and see what quarter-end looks like with nothing to rebuild.