Phoenix American provides complete fund accounting services for both onshore and offshore funds. Solutions are available for any corporate entity with any fund accounting or other accounting needs from basic bookkeeping to specialized full-service tax and accounting at the fund, asset or corporate level. We appreciate the unique needs of every fund accounting client with dedicated customer service and meticulous attention to detail.
Waterfall & Carry
Net Asset Value
Frequently Asked Questions
Fund accounting will work with you to establish the period-end dates and closing time frames you prefer and plan for the associated reporting requirements. Statutory statements are completed by their respective due dates. Fund accounting can either mail financial statements or send them electronically. You will also have access to historical records through your client web portal.
As part of our standard fund accounting solution, Phoenix American will generate industry specific transactional and period-end reports as well as internal managerial financial reports. With our Premium Fund Accounting Services offering, Phoenix American will create full financial statements for all types of external reporting, including SEC filings via EDGAR.
Fund accounting will receive and process pre-approved vendor invoices, then issue checks as needed. All vendor payments will be required to have a final approval by you before a payment is released.
Yes. Phoenix American fund accounting not only offers, but encourages the use of Electronic Funds Transfers (EFT) through our banking services. Fund accounting sends all EFT transactions, excluding direct wires, through the Automated Clearing House (ACH) governed by the Federal Reserve System’s Regulations and the National Automated Clearing House Association (NACHA).
Yes. Two methods are available. Manual checks may be issued out of your office or payments may be issued by fund accounting. There are costs associated with receiving, processing, approving and disbursing a rush payment. The volume and frequency of these types of disbursements usually determine which method will work best for you.
The preferred method is a lockbox for checks and electronic receipts. However, whatever alternative you prefer, fund accounting will work with you to meet your needs. All daily receipts will be processed within the prescribed time frames.
Yes, depending on the bank account set up, your fund accounting team can receive and process electronic transfer information into our accounting software.
Your fund accounting team will handle any and all banking issues relating to the transfer of funds on your behalf for accounts payable and accounts receivable processing. Fund accounting has experience working with all types of financial institutions including local banks, national banks and money market investment funds.
Depending on the arrangement you prefer, your fund accounting team may have limited, pre-approved, authorized access to your account for electronic transfers and/or authorization to speak with the bank on your behalf as needed for treasury services.
Fund accounting sends all EFT transactions, excluding direct wires, through the Automated Clearing House (ACH) governed by the Federal Reserve System’s Regulations and the National Automated Clearing House Association (NACHA). for secure transmissions.Direct wires are sent directly to or from your bank account
SEC Compliance & Audit Support
Yes. Your fund accounting team is trained in all aspects of EDGAR conversion and filing. Fund accounting employees attend regular seminars to stay up to date on the latest SEC requirements.
Fund accounting starts with the core financial information and works with your financial, legal, and management personnel to gather the information that cannot be derived from accounting transactions.
As part of our Premium Fund Accounting offering, your service team is available to answer any audit questions on transactions we have processed. Fund accounting also prepares work-paper files to support quarterly and year-end transactions. The audit can take place in our office or at a location of your choice through phone and electronic communication.
Learn More About Fund Accounting
- Distribution Waterfalls and Outsourced Fund Accounting
- What Are Waterfalls in Fund Accounting?
- Fund Accounting and Capital Activities
- What is a Waterfall Structure in Fund Accounting?
- How to Evaluate a Fund Accounting Firm
- Evaluating a Fund Accounting Firm
- The Importance of Experience in Fund Accounting
- Financial Reporting for Private Equity