Accounting
Fees and client books kept up to date, from the same checked data the rest of TAC uses.
What the accounting module checks.
We value each portfolio on the 15th and at month end, from statements we have already checked.
Management fees, performance fees and retrocession rebates, with the full list of holdings for the quarter attached.
The person who sends an invoice cannot also approve it.
Invoices go out with your logo, your signer and your words.
Profit and loss, both banked and on paper, worked out from your trade record (first in, first out).
Client books today. Fund books through the group's fund administration team.
The AUM on the invoice must match the AUM on the Account Monitor for the same day. If it does not, the invoice does not go out. No invoice works out its own total.
What the accounting module gives you.
Quarterly fee invoices, approved and recorded
Fee notes and adjustments, picked up when fees are worked out again
P&L by account and by security
Works out, drafts and checks every invoice.
Checks the draft and the AUM it uses.
Approve it. Your sign-off is the one that counts.