Bookkeeping for Funds

Fund Accounting and Bookkeeping
for Investment Managers

Fund-Level and Entity-Level Accounting

We maintain accurate books at both the fund level and the management company level -- ensuring each entity's financials reflect its specific economics and reporting requirements.

Investor-Ready Financial Reporting

We prepare the financial statements, capital account schedules, and reporting packages that limited partners and institutional investors expect.

Technical Accounting for Complex Instruments

From fair value measurement to carried interest accounting, we bring the technical depth that investment fund accounting consistently requires.

Speak to an Expert
man with black shirt circle1.png
financial table 1.png
charts and graphs.webp

100+

Successful transactions completed

20+

Years of experience

$5 - 50m

Average size of transaction

$20-200m

Average market cap of clients across tech, manufacturing & services

Bookkeeping and Fund Accounting for Investment Managers and Fund Sponsors

What makes us different?

Investment funds have accounting requirements that are fundamentally different from operating businesses. The fund itself is an investment vehicle, not an operating company — and its financial statements reflect the fair value of portfolio investments, capital contributions and distributions, management fees, carried interest, and other fund-specific economics. The management company has its own set of accounting requirements. Both need to be maintained accurately and consistently.

Corviniti provides fund accounting and bookkeeping services to venture capital funds, private equity funds, family office investment vehicles, and other investment managers. We maintain the books at the fund level and management company level, prepare LP capital account statements, and produce the financial reporting that limited partners and regulatory requirements demand.

We also support fund managers with the technical accounting questions that investment structures generate — fair value measurement of portfolio companies, carried interest calculations, and the accounting for complex fund structures including parallel funds, co-investment vehicles, and SPVs.

We help with:
  • Fund-Level Bookkeeping: Maintain the general ledger and financial records for the fund entity, including investment activity, capital contributions, distributions, and fund expenses.
  • Management Company Accounting: Maintain separate books for the management company, including management fee income, carried interest accruals, and operating expenses.
  • Capital Account Maintenance: Maintain accurate LP capital account records reflecting each investor’s contributions, distributions, and allocated profits and losses.
  • Portfolio Investment Accounting: Record and track portfolio investments at cost or fair value, as appropriate, and maintain the underlying investment schedules.
  • Management Fee and Carried Interest Calculations: Calculate management fees and carried interest in accordance with the fund’s LPA and prepare the supporting schedules.
  • LP Capital Account Statements: Prepare periodic capital account statements for limited partners reflecting their investment activity and current account balance.
  • Financial Statement Preparation: Prepare the fund’s financial statements in accordance with GAAP or IFRS, as required by the LPA and investor expectations.
  • Audit Preparation: Prepare audit workpapers and supporting schedules for the annual fund audit.

Our Bookkeeping Services

Monthly Bookkeeping

Maintain accurate fund and management company books with a disciplined accounting process that supports LP reporting, audit requirements, and regulatory compliance.

  • Investment Activity Recording: Record all investment activity — new investments, follow-ons, distributions, and realizations — accurately and on a timely basis.
  • Capital Account Tracking: Maintain LP capital accounts reflecting contributions, distributions, and allocated income and expenses.
  • Expense Allocation: Allocate fund expenses correctly between the fund and the management company in accordance with the LPA.
  • Monthly or Quarterly Reporting: Prepare financial summaries and capital account updates on the reporting schedule required by the LPA.

Cleanup and Catch-Up

Organize and reconstruct historical fund records to meet the standard that LP reporting, fund audits, and regulatory requirements demand.

  • Historical Capital Account Reconstruction: Reconstruct historical capital account records where prior recordkeeping was incomplete or informal.
  • Investment Schedule Cleanup: Review and correct historical investment schedules, ensuring all activity is recorded accurately and consistently.
  • Prior-Period Error Correction: Identify and correct errors in historical fund accounting, including capital account misallocations and investment recording errors.

Financial Planning & Analysis

Provide the financial analysis and reporting that fund sponsors, portfolio managers, and limited partners rely on.

  • Portfolio Performance Reporting: Prepare portfolio performance summaries, MOIC calculations, and IRR analysis for management and LP reporting.
  • Liquidity and Cash Management: Monitor fund-level cash, unfunded commitments, and near-term capital call and distribution activity.
  • LP Quarterly Reports: Prepare the quarterly LP reports that limited partners expect, including financial statements and portfolio updates.

Contact us to discuss the scope and pricing appropriate for your fund structure and reporting requirements.

Contact for More Info

Why Choose Us?

Big 4 expertise,
boutique agility

Corviniti provides fund accounting with the technical depth of a Big 4 professional services firm and the responsiveness of a dedicated boutique. We understand investment fund structures and the reporting obligations they generate.

Get In Touch

Investment managers and capital markets are a core part of what we do

From first-time fund managers setting up their accounting infrastructure to established investment managers with multiple fund vehicles, Corviniti provides the fund accounting and bookkeeping support that investment management requires.

  • Venture Capital and Private Equity Funds
  • Family Office Investment Vehicles
  • SPVs and Co-Investment Structures
  • Big Four Experience
  • LP and Regulatory Reporting Standards

Contact Us To
Learn More

Call: (347) 472-1115
Email: info@corviniti.com

Tell us about your fund structure, your LP reporting requirements, and what your current accounting function looks like. We will respond within 24 hours.

Enter your first name here.
This field is required.
Enter your last name here.
This field is required.
Enter your business name here.
This field is required.
Enter your phone number.
This field is required.
What are your monthly expenses?
Select your monthly expenses from the dropdown.
What service are you interested in learning most about?
Select the service you are interested in.
Any additional information you would like to share.

Learn More From

Frequently Asked Questions

Fund accounting focuses on the economic activity of an investment vehicle — capital contributions and distributions, portfolio investment activity, management fees, carried interest, and LP capital account tracking. Standard business bookkeeping focuses on the operating activity of a company. The accounting standards, reporting requirements, and technical issues are different in each case. Fund accounting requires familiarity with investment fund structures, LPA terms, and the specific GAAP guidance applicable to investment companies.

Yes. Most fund managers need accounting support for both entities — the fund itself and the management company that receives management fees and carries the operating expenses of running the firm. We maintain separate books for each entity and ensure the accounting between them is consistent and properly documented.

Carried interest is calculated in accordance with the specific terms of the fund’s limited partnership agreement, which defines the preferred return, the catch-up mechanism, and the carried interest percentage. We calculate the carried interest accrual at each reporting period, prepare the supporting schedule, and ensure the accounting is consistent with the LPA. We also advise on the accounting treatment of carried interest distributions when they occur.

We prepare periodic LP capital account statements showing each investor’s contributions, distributions, and allocated income and expenses. We also prepare the quarterly or annual financial statements for the fund and, where required by the LPA, portfolio company updates and performance summaries. The specific reporting package is tailored to the LPA requirements and LP expectations.

Yes. We prepare the complete set of audit workpapers for the annual fund audit — capital account schedules, investment activity rollforwards, management fee calculations, and supporting documentation for all significant accounting judgments. Well-prepared audit workpapers reduce the time and cost of the fund audit significantly.

Yes. We regularly work with foreign private issuers and companies with cross-border structures, including IFRS reporting, US GAAP reconciliations, and multi-entity consolidations for companies with domestic and international subsidiaries.

In most cases, we can begin within a few days of finalizing our agreement. Our KYC and onboarding process is straightforward and does not create unnecessary delays before the actual work starts.