Fund Accounting Functionality

Share class currency and fund base currency can be created in any combinations with the NAV calculated in the class currency and supported by general ledger posting in fund currency. Foreign currency classes can be hedged by entering financial transactions and allocating the hedges to the specific share classes.

Fee calculation rules for fee types such as administration, management, performance and other accruals (i.e. audit, director, amortisations etc.) and other fund-specific fees can be defined at series level to be automatically calculated and accrued to the general ledger.

The system automatically allocates income and expenses across investors based on fund level allocation rules, including gross method, net method, committed capital method and fixed percent per period. The fund level default allocation rule will be used unless a specific allocation rule is specified at transaction level thus providing transaction level allocation capabilities. Specific allocation rules can be specified on transaction entry to individuals or groups of classes/series/partners.

PAXUS is general ledger centric, built from the ground up as a multi-currency accounting engine. All transactions are posted individually to the general ledger via pre-configured accounting rules for NAV valuation and financial statement purposes. Journal entries can be posted to future, present and past value dates in any currency. Once a fund valuation is finalised a period can be locked off, preventing inadvertent postings of transactions to that period.

The NAV calculation process is centralised across all series in the fund, or for groups of funds, as a single push-button procedure. The NAV calculation supports three different rounding rules up to 8 decimal places (round off, up or down) for reporting, truncating NAV or by posting rounding entries to the general ledger. The NAVs can be dual priced for bid/offer spreads.

There is a selection of 200+ generic PAXUS reports available, with multiple parameters and options for each. Generic reports can be run individually or as a pack, either to printer, .pdf, excel or csv. Customised SQL and report formatting can also be written (with SQL knowledge) and stored by users in the application, which can then be accessed and run by users from within the application. As an open relational database users can access the system via any Microsoft ODBC report-writing tool. A data dictionary is published to assist with SQL report writing and queries. Regulatory reporting includes US FATCA, AIFMD Annex IV, Form-PF and CRS.