For funds, partnerships and the firms that serve them
Hand off the close. Keep the final say.
Balant prepares month-end and quarter-end close work for funds and partnerships, from cash recs to partner capital and K-1s. Each item waits in your team's queue until someone approves it.
Works in QuickBooks, Xero, NetSuite, Sage Intacct, Excel and Google Sheets.
- Cash rec · Fund II, L.P. Operating account ··2210 Approve
- Accrual · Fund II, L.P. Q3 management fee Approve
- Capital call · Fund II Call #7 entries drafted Review
- Tax · Fund II Partner K-1s filled Review
Illustrative queue. Names and figures are examples.
Six questions every quarter-end has to answer.
For each one: what Balant prepares, the workflows involved, and a sample of what lands in your binder.
Does cash tie in every entity?
Balant reconciles every bank and custody account for each fund, SPV and GP entity at period end. Matched items are marked off. Whatever's left comes to you with the support attached and, where the fix is clear, an entry already drafted.
Workflows involved
- Bank and custodian activity
- Cash reconciliation by entity
- Period-end cutoff
| Entity · account | Status |
|---|---|
| Fund II, L.P.Operating ··2210 | Reconciled |
| Fund II-A, L.P.Operating ··6038 | Reconciled |
| Co-invest SPV I, LLCOperating ··9034 | Open item |
| Fund II GP, LLCOperating ··1187 | Reconciled |
Open item: a 3,500.00 administrator fee debited on Sep 29 and not yet booked. Entry drafted and waiting for approval.
Is every fee and expense accrued?
Balant calculates the management fee from the fee terms in your LPA, applies offsets, and accrues audit, tax, legal, administration and credit-line costs for the period. Each accrual shows its basis, so reviewers check the math instead of rebuilding it.
Workflows involved
- Management fees
- Fund expenses
- Subscription line interest and fees
| Item and basis | Amount |
|---|---|
| Management fee2.00% of $150.0M commitments, one quarter | 750,000.00 |
| Fee offset80% of $62,500 transaction fees received | (50,000.00) |
| Audit feeEngagement letter, 3 of 12 months | 11,250.00 |
| Legal EstimateWork in Q3, invoices not yet received | 18,400.00 |
| Subscription line interest$12.0M drawn at 7.25%, 92 days | 222,333.33 |
| Total | 951,983.33 |
Each entry carries its basis. Estimates are marked for review.
Is every partner's capital account right?
Balant allocates income, gains, fees and expenses to each partner using the ownership percentages in your records, books calls and distributions against each LP, and rolls every capital account forward. Partner balances are checked against total partners' capital before they reach an investor statement.
Workflows involved
- Partner capital allocations
- Capital calls and unfunded commitments
- Distributions
- Investor capital statements
| Partner | Net income | Ending |
|---|---|---|
| Partner A | 990,300 | 1,019,300 |
| Partner B | 495,150 | 548,150 |
| Partner C Final | 165,050 | 0 |
| Total | 1,650,500 | 1,567,450 |
Partner accounts add up to total partners' capital of 1,567,450.
Do the fund entities agree?
Main funds, parallel funds, feeders, SPVs, the GP and the management company each keep their own books, and they all have to agree. Balant splits shared deals across the funds by commitment, matches what the entities owe each other, and shows every elimination on the roll-up.
Workflows involved
- Parallel funds and feeders
- Due to and due from
- Fund family roll-up
- Fund II GP, LLCGeneral partner
- Fund II, L.P.Main fund · $150.0M · 75% of each deal
- Fund II-A, L.P.Parallel fund · $50.0M · 25% of each deal
- Co-invest SPV I, LLCCo-investment vehicle
- Management Co., LLCAdviser to each fund
Eliminations
- Management fee receivableManagement Co. ↔ Fund II700,000.00
- Fund expenses paid by Management Co.Management Co. ↔ Fund II9,875.00
Due to and due from net to zero across the fund family.
What changed this quarter, and why?
Balant assembles the quarter's reporting package, from the statement of assets and liabilities to each LP's capital statement, and drafts plain-language notes on what moved since last quarter for your team to edit and approve.
Workflows involved
- Quarterly reporting package
- Flux commentary
- Investment schedule roll-forward
- Investor capital statements
| Commitment | 12,500,000 |
| Beginning capital, Jul 1 | 8,912,400 |
| Contributions (call #7) | 1,050,000 |
| Management fee | (58,333) |
| Fund expenses | (21,000) |
| Net investment gain | 612,500 |
| Ending capital, Sep 30 | 10,495,567 |
| Unfunded commitment | 4,375,000 |
Why it moved
Net investment gain of 612,500 reflects the Q3 marks on two holdings. Fees and expenses are in line with Q2.
Are the K-1s ready?
Balant fills a Form 1065 Schedule K-1 for every partner from your allocation workbook. Each value is read back and compared with the workbook before download, and nothing goes to a partner until you send it.
Workflows involved
- Form 1065 Schedule K-1s
- Partner capital allocations
Schedule K-1 (Form 1065) · 2025Co-invest SPV I, LLC · Partner A
Part III6 of 6 values match the workbookReady to download
All figures in these samples are illustrative.
Balant does the prep. Your team keeps the judgment.
Here's one quarter-end, split between Balant and your team.
Where the numbers come from
- QuickBooks
- Xero
- NetSuite
- Sage Intacct
- Excel
- Google Sheets
- Bank and custodian statements
- Investor records
- Balant:Pulls the period's activity
- Balant:Reconciles every account
- Balant:Drafts entries and schedules
- Balant:Flags what needs a decision
- Your team:Answers the flagged questions
- Balant:Assembles the close package
- Your team:Approves each item
- Your team:Signs off the period
What lands in your binder
- Draft journal entries
- Reconciliations with support
- Schedules and workpapers
- Investor capital statements
- Form 1065 K-1s
- Your checklist. Balant follows your close checklist and chart of accounts, fund by fund.
- Your systems. Entries are drafted in your ledger, and schedules stay in your workbooks.
- Your sign-off. Nothing is final until someone on your team approves it.
Everything on the close calendar.
What Balant prepares and when it runs, from month-end to year-end. Hand over one workflow or the whole calendar.
Cash and period end
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Bank and custodian activity
Brings the period's bank, custody and credit-line activity into the ledger, coded to the right fund.
Runs monthly, quarterly and at year-end.
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Cash reconciliation by entity
Ties every bank and custody account to the ledger for each fund, SPV and GP entity, and lists what's still open.
Runs monthly, quarterly and at year-end.
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Period-end cutoff
Checks that invoices, wires and capital activity near period end land in the period they belong to.
Runs monthly, quarterly and at year-end.
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Close checklist and sign-off
Tracks every task on your checklist, carries open items forward, and records who prepared and who approved each one.
Runs monthly, quarterly and at year-end.
Income, fees and expenses
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Investment income and realized gains
Records interest, dividends and realized gains and losses from custodian and portfolio activity.
Runs monthly, quarterly and at year-end.
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Management fees
Calculates the fee on committed or invested capital, applies offsets, and drafts the accrual.
Runs monthly and quarterly.
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Fund expenses
Accrues audit, tax, legal and administration costs, and tracks prepaid, organizational and offering costs.
Runs monthly, quarterly and at year-end.
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Subscription line interest and fees
Accrues interest and unused-commitment fees on the fund's credit facility, and books draws and paydowns.
Runs monthly and quarterly.
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Non-USD holdings and FX
Remeasures foreign-currency cash and investments at period-end rates and shows the FX effect separately.
Runs monthly, quarterly and at year-end.
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Management company books
Keeps the management company's books: fee income from the funds, payroll, rent and vendor bills, reconciled each month.
Runs monthly, quarterly and at year-end.
Investor capital
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Capital calls and unfunded commitments
Drafts each LP's entries from the call notice, clears receivables as cash arrives, and updates unfunded commitments.
Runs as needed.
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Distributions
Splits each distribution across LPs and drafts the entries, using the return-of-capital and gain amounts your team sets.
Runs as needed.
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Partner capital allocations
Allocates income, gains, fees and expenses to each partner's capital account, using the ownership percentages in your records.
Runs monthly, quarterly and at year-end.
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Investor capital statements
Prepares each LP's capital account statement for the quarter and the year from the allocations.
Runs quarterly and at year-end.
Fund structure
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Parallel funds and feeders
Splits shared deals across parallel funds by commitment, passes results through to each feeder by ownership, and ties each one back.
Runs quarterly and at year-end.
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Due to and due from
Matches balances between the funds, the GP and the management company, and drafts the settling entries.
Runs monthly, quarterly and at year-end.
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Fund family roll-up
Builds one trial balance across the funds, GP and management company, with each elimination on its own line.
Runs quarterly and at year-end.
Reporting and audit
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Investment schedule roll-forward
Rolls cost and fair value for each holding from the period's transactions and the marks your team approves.
Runs quarterly and at year-end.
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Flux commentary
Drafts plain-language notes on what moved against last quarter and budget, for your team to edit.
Runs quarterly and at year-end.
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Quarterly reporting package
Prepares the statements of assets and liabilities, operations and changes in partners' capital, with the schedule of investments, for review.
Runs quarterly and at year-end.
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Audit PBC support
Gathers the schedules, reconciliations and support on your auditor's PBC list, tied back to the ledger.
Runs at year-end and as needed.
Tax
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Form 1065 Schedule K-1s
One filled K-1 per partner from your allocation workbook, each value checked against the workbook before download.
Runs at year-end.
No workflow matches that search. Bring it to a sample run and we'll tell you whether it fits.
Due diligence, answered up front.
The questions a fund's CFO or chief compliance officer asks before sharing investor data, answered as things stand today.
- Is data encrypted in transit?
- Yes
- Every connection uses TLS 1.2 or newer, and HSTS is enforced.
- Do you have a SOC 2 report?
- In progress
- Our SOC 2 Type 1 readiness work is underway. We'll share the report once it's issued.
- Where is Balant hosted?
- AWS
- Balant runs on Amazon Web Services.
- How are K-1 values checked?
- Before download
- Each value is read back from the finished K-1 and compared with the value read from your workbook before the download is prepared.
- Who else handles our data?
- Disclosed up front
- Sub-processors are disclosed before your first engagement. The full list is available on request.
Have a question that isn't here? Bring it to your sample run.
Quoted for your fund structure.
There's no list price. After a sample run on last period's data, you get a quote built from three things.
Schedule a sample runWhat your quote is built from
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Entities
Funds, parallel funds, feeders and SPVs, plus the GP and management company: how many close each period.
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Workflows
Which items on the close calendar you hand over, from one cash rec to the full quarter-end.
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Investors and cadence
How many partners and LPs get allocations, statements and K-1s, and whether you close monthly or quarterly.
The people behind Balant.
Who you'll work with.
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Founder name Placeholder
Title
Previously at: firm name
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Team member name Placeholder
Role
Previously at: firm name
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Team member name Placeholder
Role
Previously at: firm name
“A fund controller or CFO describes their close in their own words.”
Questions fund teams ask
What does Balant prepare?
Month-end and quarter-end close work for funds, partnerships and their GP and management-company entities: cash reconciliations, fee and expense accruals, capital calls and distributions, partner capital allocations, entity roll-ups, reporting packages and audit support, plus Form 1065 Schedule K-1s. The close calendar above lists every workflow.
Which systems does Balant work with?
QuickBooks, Xero, NetSuite and Sage Intacct for the general ledger, and Excel and Google Sheets for schedules and workbooks. Bank, custodian and investor records come from the statements and reports you already produce.
Does anything post to our books without approval?
No. Balant drafts entries, reconciliations and schedules and puts them in your team's queue. Nothing is final until someone on your team approves it.
How is our data handled?
Every connection uses TLS 1.2 or newer, with HSTS enforced, and Balant is hosted on AWS. Sub-processors are disclosed before your first engagement, and the list is available on request. Our SOC 2 Type 1 readiness work is in progress, and we'll share the report once it's issued.
Which tax forms can Balant fill?
Form 1065 Schedule K-1 for the 2025 tax year. Form 1120-S and Form 1041 Schedule K-1s are on the roadmap.
What if a value is wrong?
Before the download is prepared, every value on each K-1 is read back and compared with the value read from your workbook. Balant never sends anything to a partner: you review the PDFs and decide what goes out. Close work follows the same rule. Each entry, reconciliation and schedule waits for your team's approval before it's final.
Why can't the K-1 PDFs be edited?
They're finalized for delivery, so a partner sees exactly what your reviewer signed off on, in Preview, Chrome, Adobe Acrobat or any other viewer.
Can fund administrators and CPA firms use Balant for their clients?
Yes. The same workflows run for each client's entities. Bring one client's books to a sample run to see how Balant fits your practice.
Start with last quarter.
Pick one workflow. We'll run it on last period's data, then go through the result with you on a 20-minute call.
Pick one workflow.
Choose the part of the close that takes your team longest: a cash rec, a fee accrual, capital accounts or K-1s.
Share last period's data.
The workbooks and exports that workflow needs. Redacted copies are fine.
Review it together.
We go through the output line by line, and you leave with a quote.
Scheduling link coming soon.