Fund Accounting Services

Processes that ensure accuracy, consistency and compliance with the needs of every audience in mind.



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.


Phoenix American fund accounting provides financial reporting with the expectations of multiple audiences in mind: GAAP accounting, portfolio management, deal teams, accountants and your investor relations group.

  • Asset Tracking
  • Cash Flow Tracking by Asset
  • Asset Attribution
  • Cost Basis Tracking
  • Customized Reports

Financial Statement

Your fund accounting team will produce customized financial statements that reinforce your brand. Capital calls, distribution and capital statements with extensive information and framed with imagery, color and branding promote confidence in your investment.

  • Customized Report Presentation
  • Footnotes & Financial Highlights
  • GAAP Reporting
  • SEC Reporting
  • Credit Facility Reporting

Capital Activity

Your investor relations team will be fully equipped with a capital activity reporting package from your fund accounting team that includes all the data they might need. Fund accounting will automate scheduled delivery as specified for reliability and consistency.

  • Capital Call Calculations & Notifications
  • Distribution Calculations & Notifications
  • Capital Account Statements
  • In-Depth Capital Activity Reports Package

Waterfall & Carry

Waterfalls can be complex. Their calculation must be accurate and easy to understand. Fund accounting ensures that distribution allocations are strictly in line with the fund’s legal agreements and provide transparency and clarity.

  • Complex Waterfall Calculation & Distribution
  • Automated for Consistency & Accuracy
  • All inputs coming from within the fund accounting general ledger system
  • Multi-Share Class & Preferred Share Waterfalls

Net Asset Value

Our fund accounting processes ensure compliance, accuracy and consistency in your deliverables to investors, auditors, and others with an emphasis on clarity and readability.

  • General Ledger Accounting
  • Expense & Income tracking
  • Waterfall Calculations
  • Management Fee Calculations
  • Portfolio Tracking


Fund accounting leverages integrated systems to produce timely investor tax documents at any scale.

  • Investor K-1 Production
  • Investor 1099 Production
  • Printing & Delivery
  • e-Filing
  • Liaison with Tax Preparers
  • Withholding
  • Sales, property & use taxes
  • US Reporting for International Funds

Learn why industry leaders trust us for their back office

Let’s discuss how Phoenix can elevate your investor experience

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Frequently Asked Questions

How and when will I receive my financial information from fund accounting?

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.

What kinds of reports will fund accounting provide?

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.

Accounts Payable

How will fund accounting provide invoice payments to my vendors?

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.

Can fund accounting send payments electronically?

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).

Can fund accounting process an emergency payment?

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.

Accounts Receivable

How will fund accounting process cash receipts?

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.

Can fund accounting receive invoice payments electronically?

Yes, depending on the bank account set up, your fund accounting team can receive and process electronic transfer information into our accounting software.


What services are included in banking services?

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.

Will Phoenix American have access to my bank account?

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.

How does fund accounting handle electronic fund transfers?

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

Can Phoenix American file reports with the SEC via EDGAR?

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.

How does fund accounting produce footnotes, management discussion and analysis?

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.

What level of audit support does the fund accounting team provide?

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.