General Ledger

pControl General Ledger delivers an integrated ledger framework designed for individual fund entities or consolidated entities operating interfunded investment structures.

The General Ledger framework within pControl provides a flexible chart of accounts and transaction infrastructure which may be leveraged by all modules within the pControl suite.

Account Views provides reporting for Trial Balance, Statement of Financial Position (Balance Sheet), Profit and Loss Statement, Statement of Cashflows and related cash flow reconciliation.

Features

  • Chart of Account framework supporting account groups, sub-groups, account types, tax categories and external code allocation.
  • User configurable transaction type support.
  • Transaction types can allocate accounts based upon:
    • Scope of financial entity (fund, group of funds or all funds)
    • Transaction originator
    • Jurisdiction
    • Asset type
    • Life cycle status (including unapproved, approved, cash settled, confirmed)
  • Transaction type attributes include:
    • Cost base adjustments for accounting and tax
    • Unit base adjustments for accounting and tax
    • Date assumptions
    • Transaction life cycle status
  • Definition of financial year end and tax year end periods specific to individual fund entities or fund groups.
  • Automated Retained Earnings management with no requirement for year-end rollover with support for reporting across financial years.
  • Account period close management including controls over re-opening and closing of accounting periods subject to user authorisation levels.
  • Multiple account date support allowing allocation and reporting by:
    • Effective Date for operations
    • Accounting Date for accounting
    • Tax Date for tax reporting
    • Cash Settled date for cash flow management and reconciliation.
  • Integrated data exchange with external general ledgers and transaction sources

Processing

General Ledger is fully integrated within the pControl platform and may be activated in conjunction with any other module in the pControl suite.

General Ledger is designed to complement NAV / Unit Pricing, Cash Allocation & Rebalancing,  Distribution Calculations, Tax Expense Calculations and Gain / Loss Management.

Solutions

The General Ledger capability is included within the following solutions: