OUTSOURCED ACCOUNTING & FINANCIAL SUPPORT

Management Company and General Partner Entities
  • Establishment of a chart of accounts and accounting processes for the Management Company and General Partner entities
  • If applicable, import of and account for previous activity prior to our engagement beginning
  • Create an Accounts Payable (A/P) approval process
  • Review the Accounts Receivable (A/R) expectations and related Cash Flow projections so you can make strategic decisions
  • Banking – as part of the service provider selection process, we would help support the setup of bank accounts for the management company, general partner and for the fund, as applicable
    • Assist with payment approval and view capabilities
    • Support the setup for business credit cards
    • Obtain electronic access to bank accounts, credit cards, and vendor invoices and facilitation of electronic transfer of information into the chosen general ledger software, if applicable
  • Establish internal controls and cash movement protocols
  • Establish a process for collection of IRS W-9’s and related forms (1099s)
  • Determine proper expense allocation between the Management Company and Fund to determine which can be classified as organizational, which are fund expenses, and which are expenses of the Management Company in accordance with the Private Placement Memorandum (PPM), Limited Partnership Agreement (LPA) and related fund documents
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