Accounting close

Overview

NAVdryx treats itself as the source of truth for fund accounting events, and treats the general ledger as the system that receives posted entries — not the system that drives them. The accounting side of a period, in NAVdryx, is preparing reviewed and approved draft journal entries, reconciling the fund’s bank and card accounts, and then closing the period, with a workpaper behind the fee and reconciliation numbers.

Draft-only GL posting

NAVdryx has integrations for QuickBooks Online, Xero, Sage Intacct, and NetSuite. A connection is set up by entering API tokens issued by the GL vendor — connecting by OAuth sign-in is not yet available — and account mappings are maintained in NAVdryx, because syncing the chart of accounts, customers and vendors, and classes from the GL is not yet available either.

NAVdryx generates draft journal entries from management-fee runs and from the bills, accruals, receivables, and payables recorded in its accounting module; capital calls and distributions don’t generate journal entries on their own. Posting is designed to be two-stage: a draft is reviewed and approved inside NAVdryx, and only then is it sent to the GL as a draft or unposted entry. NAVdryx never auto-posts a final entry. Final posting is the controller’s own action, taken in the GL itself, which keeps the GL as the official accounting record while automating everything upstream of it.

Before every posting attempt, NAVdryx asks the GL to confirm that the period is open, and it won’t post without that confirmation. None of the four integrations can provide it yet, so posting directly to a live GL is not yet available: the draft stays in NAVdryx, the attempt is recorded in the connection’s sync log and error queue, and entries are posted from the manual export described below. Each connection’s page also shows its status and when its access token expires.

Bank and card reconciliation

Reconciliation covers fund operating accounts, capital accounts, and corporate cards used for fund and management-company expenses. It is file-based: bank statements import as CSV, OFX/QFX, BAI2, or MT940, and card statements as Amex, Brex, or Ramp CSV exports; PDF statements are not yet supported. The matching step reconciles statement lines against NAVdryx’s own records — unposted draft journal entries and settled outgoing payments — and an assist step proposes matches by amount, date proximity, counterparty, and reference field. Every proposal waits for a person to confirm it with one click, and lines with no proposal are matched by hand. Every match records who proposed it, who confirmed it, when, and which source records it links.

Statement lines with no match stay open as outstanding items and are listed on the reconciliation workpaper. Categorized outstanding items with expected clearing dates, and automatic accruals for card charges that clear in a later period, are not yet available; record such an accrual yourself in the accounting module. See Reconcile a bank account for the step-by-step flow.

Closing a period

A single close worklist or checklist that ties fee and expense runs, reconciliations, and draft entries to a period is not yet available. Each is reviewed and approved in its own area, and a controller or fund manager then closes the period from the fund’s capital page, which locks capital activity dated in that period against posting and reversal; reopening it takes a controller and a reason. A reconciliation workpaper — the statement balance, the GL balance you record for the period, the resulting difference, the matches, the outstanding items, and any exceptions — is generated per reconciliation, and a reconciliation is completed by someone other than the person who prepared it.

Manual fallback

A GL integration being unavailable, or not connected at all, is not a dead end for fee entries: an approved management-fee run’s journal entry always exports as a CSV or Excel file for manual posting in any GL. This is not a degraded mode bolted on for emergencies — it is a designed path. Draft entries from bills, accruals, receivables, and payables don’t have a file export yet.