Services
Comprehensive Fund Administration Services
Fund accounting, investor reporting, capital activity and the entities behind them, handled by CPA-led expert teams and a proprietary accounting platform.
Our services
Fund accounting
General ledger, allocations and partner capital accounts, with quarterly and annual statements.
Capital calls and distributions
Notices calculated, issued and reconciled against bank activity across every fund entity.
Investor reporting
Capital account statements, and a portal where limited partners access their reporting.
Audit and tax support
Financial statements and auditor requests handled directly, with clean data ready for the tax partner.
Compliance support
The data behind regulatory reporting, prepared and reviewed alongside the books.
Valuation support
Input on valuation policy and methodology, so every mark rests on a sound, well-documented basis.
Management company accounting
Bookkeeping, monthly close and financial statements for the management company.
GP entities
Accounting for general partner vehicles, tied to the funds they manage.
Fees and expenses
Management fees and fund expense allocations calculated once and reflected everywhere.
Carried interest
Carried interest tracked from the fund waterfall through to the general partner entity.
Audit and tax support
Financial statements and auditor requests handled directly, with data ready for your tax preparers.
Unified records
The management company, general partner vehicles and every fund on integrated platform and books.
Fund and entity accounting
Books for the fund and the holding entities beneath it, consolidated where you need them.
Capital activity
Capital calls and distributions calculated, issued and reconciled against bank activity.
Waterfalls
Distribution waterfalls and preferred return calculated from your governing documents.
Investor reporting
Capital account statements, and a portal where investors find every document.
Audit and tax support
Financial statements and auditor requests handled directly, with data ready for your tax preparers.
Lineage on every figure
Each number traces back to the source document and the calculation behind it.
Look-through accounting
Every underlying commitment accounted for and rolled up to the fund of funds.
Consolidated capital activity
Capital calls and distributions calculated, issued and reconciled against bank activity.
Investor reporting
Capital account statements, and a portal where limited partners access their reporting.
Fund accounting
General ledger, allocations and partner capital accounts, with quarterly and annual statements.
Audit and tax support
Financial statements and auditor requests handled directly, with clean data ready for your tax preparers.
Lineage on every figure
Each number traces back to the source document and the calculation behind it.
Real-time access
Your data, calculated to the cent as it arrives. No waiting on static reports from your administrator.
Continuous audit
A data quality layer flags misattributed entries, broken tie-outs and drifted balances.
Money movement
Capital calls settle against real bank activity and reconcile automatically.
Point-in-time history
Every change is attributed, so any figure can be seen exactly as it stood on any date.
Access as a graph
Permissions follow how funds, general partners and investors actually relate to one another.
Where you work
Web and mobile for general partners and investors, and an MCP integration with your accounting data.
Formulary Platform
The AI operating system for fund administration
Spend less time on operations, and more time on decisions and growth. AI-native infrastructure, unified ontology and automated workflows to streamline fund administration for General Partners and Limited Partners.
01
Real-Time Calculation
Allocations, NAV and capital accounts are calculated on the fly across every fund and entity, and tie out to the cent.
02
Full Data Lineage
Every figure traces back to its precise and accurate location in the source document, whatever the original format.
03
Workflow Orchestration
Durable workflows assign each step to the right owner, with determinism, AI and expert accountants working in concert.
Money Movement
Integrated bank connectivity and payment rails. Capital calls settle against actual bank activity and reconcile automatically.
05
Continuous Audit
An embedded data quality layer monitors the books continuously for misattributed entries, reconciliation breaks and balance errors.
06
Unified Ontology
A single semantic model of fund structures governs the platform’s data types, permissions and relationships. Changes made once propagate across the platform.
Client Impact
Strategic partnership, personalized to your firm
Across private markets asset classes, firms of every scale, structure and complexity leverage Formulary to grow their business.
Client testimonials
Implementation was extremely smooth. All other fund administration implementations had me sifting through thousands of lines and explaining transactions. Formulary picked it up and solved it, and being hands off on implementation was very helpful.
CFO and CCO, growth equity firm
Formulary is a strategic partner, versus a service provider. Speed of iteration. Other providers build a product to “good enough” and assume it’s static. Formulary treats software and service the way they should be: a dynamic process that engages clients in what should be built and designed for them.
Partner, Venture capital firm
I have never seen anything close to the technology capabilities that Formulary has. In the past, we have always had to back into all the numbers. The platform is very helpful to validate calculations and streamline the audit process.
Investment Team, private equity firm
Results
Delivering immediate, tangible business value
100%
Client retention
9.8
Average NPS score
273×
Efficiency in onboarding
< 1 sec
Instantaneous reporting
For asset managers
Bring us your hardest problem
Share with us your funds and entities. We will walk you through onboarding, reporting and the platform.
Careers
Join the mission
Join the most ambitious team in fund administration, unleashing the full potential of asset managers.
