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. Close, in NAVdryx, is the process of turning a period’s capital activity, fees, and bank activity into a set of reviewed, approved, and posted entries, with a workpaper behind every number.

Draft-only GL posting

Native integrations connect to QuickBooks Online, Xero, Sage Intacct, and NetSuite by OAuth, and sync the chart of accounts, customers and vendors, and classes, locations, or departments. Posting is always two-stage: NAVdryx generates a draft journal entry from a source event — a capital call, a distribution, a management-fee accrual, an expense allocation, an in-kind transfer — the draft is reviewed and approved inside NAVdryx, and only then does an API call post it 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.

Every integration tracks connection status, field mappings, sync logs, an error queue, and OAuth token expiration alerts. NAVdryx also checks the GL’s open period on every posting attempt and will not post into a period the GL has closed; if the GL closes a period NAVdryx still has open events for, you are alerted to reconcile before reopening it.

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, MT940, or parsed PDF; card statements import as CSV or OFX/QFX from the major issuers and corporate card platforms. The matching engine reconciles transactions against NAVdryx’s own records — contributions received, distributions sent, fee receipts, expense payments, AP/AR activity — and an AI-assist step proposes matches by amount, date proximity, counterparty, and reference field. High-confidence matches are one-click confirmations; low-confidence matches route to explicit review. Every match records who proposed it, who confirmed it, when, and which source records it links.

Deposits in transit, outstanding checks, in-flight wires, uncleared distribution payments, and pending card transactions are all first-class outstanding items with an expected clearing date, and an aging view flags anything past its window. Corporate-card timing differences — an expense charged in the last week of a quarter that clears the statement the following quarter — get their own accrual handling: the expense books in the correct period against a payable, and the payable clears when the statement reconciles. See Reconcile a bank account for the step-by-step flow.

The close worklist

Close pulls these threads together into one worklist: fee and expense runs, bank and card reconciliation with its timing differences, and the resulting draft journal entries. A reconciliation workpaper — book balance, bank balance, outstanding items by category, reconciling adjustments, tie-out to the GL trial balance — is generated per account per period, in a format built for audit, and signed off as part of the close.

Manual fallback

A native integration failing, or not being connected at all, is not a dead end: the draft journal entry always exports as a CSV or Excel workpaper for manual posting in any GL. This is not a degraded mode bolted on for emergencies — it is a designed path that exists for every integration, every time.