Fund Accounting Services

Processes that ensure accuracy, consistency and compliance with the needs of every audience in mind.



Phoenix American provides complete fund accounting services for both onshore and offshore funds. Accounting solutions are for any corporate entity with any accounting needs from basic bookkeeping to specialized full-service tax and accounting at the fund, asset or corporate level. Phoenix appreciates the unique needs of every client with dedicated customer service and meticulous attention to detail.


We provide reporting with the expectations of multiple audiences in mind: GAAP accounting, portfolio management, deal teams, accountants and your investor relations group.

  • Asset Tracking
  • Cash Flow Tracking by Asset
  • Asset Attribution
  • Cost Basis Tracking
  • Customized Reports

Financial Statement

Make an impression with customized financial statements that reinforce your brand. Capital calls, distribution and capital statements with extensive information framed with imagery, color and branding promote confidence in your investment.

  • Customized Report Presentation
  • Footnotes & Financial Highlights
  • GAAP Reporting
  • SEC Reporting
  • Credit Facility Reporting

Capital Activity

Your investor relations team will be fully equipped with a capital activity reporting package that includes all the data they might need. Production is automated with scheduled delivery for reliability and consistency.

  • Capital Call Calculations & Notifications
  • Distribution Calculations & Notifications
  • Capital Account Statements
  • In-Depth Capital Activity Reports Package

Waterfall & Carry

Waterfalls can be complex. Their calculation must be accurate and easy to understand. We ensure that distribution allocations are strictly in line with the fund’s legal agreements and provide transparency and clarity.

  • Complex Waterfall Calculation & Distribution
  • Automated for Consistency & Accuracy
  • All Inputs Coming from Within the General Ledger System
  • Multi-Share Class & Preferred Share Waterfalls

Net Asset Value

Phoenix processes ensure compliance, accuracy and consistency in your deliverables to investors, auditors, and others with an emphasis on clarity and readability.

  • General Ledger Accounting
  • Expense & Income tracking
  • Waterfall Calculations
  • Management Fee Calculations
  • Portfolio Tracking


Phoenix leverages integrated systems to produce timely investor tax documents at any scale.

  • Investor K-1 Production
  • Investor 1099 Production
  • Printing & Delivery
  • e-Filing
  • Liaison with Tax Preparers
  • Withholding
  • Sales, property & use taxes
  • US Reporting for International Funds

Learn why industry leaders trust us for their back office

Let’s discuss how Phoenix can elevate your investor experience

Frequently Asked Questions

How and when will I receive my financial information?

Phoenix American will work with you to establish the period-end dates and closing time frames you prefer and plan for the associated reporting requirements. Statutory statements are completed by their respective due dates. Financial statements can either be mailed or sent electronically. You will also have access to historical records through your Web Portal.

What kinds of reports will Phoenix American provide?

As part of our standard accounting solution, Phoenix American will generate industry specific transactional and period-end reports as well as internal managerial financial reports. With our Premium Services offering, Phoenix American will create full financial statements for all types of external reporting, including SEC filings via EDGAR.

Accounts Payable

How will Phoenix American provide invoice payments to my vendors?

Phoenix American will receive and process pre-approved vendor invoices, then issue checks as needed. All vendor payments will be required to have a final approval by you before a payment is released.

Can Phoenix American send payments electronically?

Yes. Phoenix American not only offers, but encourages the use of Electronic Funds Transfers (EFT) through our banking services. All EFT transactions, excluding direct wires, are sent through the Automated Clearing House (ACH) governed by the Federal Reserve System’s Regulations and the National Automated Clearing House Association (NACHA).

How do I process an emergency payment?

Two methods are available. Manual checks may be issued out of your office or payments may be issued by Phoenix American. There are costs associated with receiving, processing, approving and disbursing a rush payment. The volume and frequency of these types of disbursements usually determine which method will work best for you.

Accounts Receivable

How will Phoenix American process cash receipts?

The preferred method is a lockbox for checks and electronic receipts. However, whatever alternative you prefer, Phoenix American will work with you to meet your needs. All daily receipts will be processed within the prescribed time frames.

Can Phoenix American receive invoice payments electronically?

Yes. Depending on the bank account set up, Phoenix American can receive and process electronic transfer information into our accounting software.


What services are included in banking services?

Phoenix American will handle any and all banking issues relating to the transfer of funds on your behalf for accounts payable and accounts receivable processing. We have experience working with all types of financial institutions including local banks, national banks and money market investment funds.

Will Phoenix American have access to my bank account?

Depending on the arrangement you prefer, Phoenix American may have limited, pre-approved, authorized access to your account for electronic transfers and/or authorization to speak with the bank on your behalf as needed for treasury services.

How does Phoenix American handle electronic fund transfers?

All EFT transactions, excluding direct wires, are sent through the Automated Clearing House (ACH) governed by the Federal Reserve System’s Regulations and the National Automated Clearing House Association (NACHA). Direct wires are sent directly to or from your bank account for secure transmissions.

SEC Compliance & Audit Support

Can Phoenix American file reports with the SEC via EDGAR?

Yes. The professionals at Phoenix American are trained in all aspects of EDGAR conversion and filing. Those individuals attend regular seminars to stay up to date on the latest SEC requirements.

How are the footnotes and the management discussion and analysis produced?

Phoenix American starts with the core financial information and works with your financial, legal, and management personnel to gather the information that cannot be derived from accounting transactions.

What level of audit support does Phoenix American provide?

As part of our Premium Services offering, the Phoenix American service team is available to answer any audit questions on transactions we have processed. We also prepare work-paper files to support the quarterly and year-end transactions. The audit can take place in our office or at a location of your choice through phone and electronic communication.

Tax Compliance Services

Will I receive tax returns before they are filed?

Yes. The tax department will send returns and backup to you for review and approval. If a tax payment is required, the information provided will allow you to create the payment request.

Will Phoenix American sign my tax returns as preparer?

Phoenix American signs sales, use, property and miscellaneous annual tax returns as the paid preparer. The benefit of this external review process is to provide you with added assurance of a complete and accurate return. Phoenix American requires income tax returns be reviewed and signed by your CPA.

My company is doing business in all 50 states. Can Phoenix American handle this activity?

Yes. Phoenix American files sales, property, and income tax returns in all 50 states and numerous local jurisdictions. Utilizing our internet and tax software, Phoenix American’s tax professionals have access to all tax laws and forms. Through our years of experience, Phoenix American has developed a network of contacts in numerous jurisdictions and can call upon them as needed. We also file taxes for our international clients.

What if I am contacted for an audit?

Inform your Tax Representative at Phoenix American. He or she will explain the audit process and review the tax returns filed in the audit period. Phoenix American will gather copies of tax returns filed and any work-papers supporting those returns and provide them to you. Audit support can handle the audit from our office. Phoenix American has extensive experience representing clients in sales, use, property and income tax audits at the federal, state and local levels. Phoenix American benefits from the many contacts in various taxing jurisdictions we have made through our years of experience.