A Capital Account Statement shows how each investor's capital account moved over a period: the opening balance, contributions, transfers, distributions, returns of capital, redemptions, and any accounting lines you add, ending in a closing balance. Caruso fills in the figures it holds for each holding in a data file. You add your own accounting figures to that file and upload it, and Caruso produces one statement per holding.
Before you start
The Capital Account Statement type must be enabled for your account. If you do not see it under Statement type, contact Caruso Support.
The fund needs a unit price at both the start and the end of the statement period. If your account uses Ex-distribution redemption prices, those are the prices it needs. If either price is missing, the batch cannot be created, and the message names the unit class and the date so you can add the price and try again.
Step 1: Create the statement batch
In the navigation pane, select Statements
Click Create statement
Enter a Statement name. This is for your internal reference only.
Under Statement type, select Capital Account Statement
Select the Fund. Each batch covers one fund only.
Optionally, select a Unit class to limit the batch to holdings in that class
Select the Statement period using the date range picker
Optionally, add Commentary
Click Create
Every investing entity that held units in the fund at any point during the period gets a statement, so you do not need to select recipients. An investing entity holding two unit classes in the same fund gets one statement per holding.
Note: The batch generates in the background. When it is ready, the data file is available to download.
Step 2: Download the data file
Open the statement batch
Click Provide statement data
Download the data file
The data file opens on an Instructions tab, followed by a Capital Accounts tab with one row per holding. The column headers are colour coded:
Purple (locked): Caruso's reference information, including who the holding belongs to, units held at the start and end of the period, and the holding value at period end. These columns are for reference only and never appear on the statement.
Yellow (editable): Caruso's figures for the holding, taken from the registry. You can overwrite any of them.
Red (editable): Your accounting lines. The first one comes pre-filled.
Blue (calculated): The closing balance.
Step 3: Review and update the figures
Caruso's figures (yellow)
Each row comes pre-filled with:
Opening Balance: the holding's value at the start of the period
Contributions
Transferred In
Cash Distributions
Return of Capital
Transferred Out
Redemptions
Leave a figure unchanged to use Caruso's value, or overwrite it with your own. For example, you might replace the opening balance with the closing figure from your previous accounting period.
Note: If you clear a pre-filled cell, it shows as a dash on the statement. It does not revert to Caruso's figure.
Accounting lines (red)
There are five accounting lines, each with a Label and an Amount.
Line 1 is pre-filled with the label Change in value and Caruso's figure for the movement in the holding's value over the period, before any distributions were paid. You can keep it, change the label or amount, or clear both cells to remove the line.
Use Lines 2 to 5 for figures from your financial statements, such as share of profit and loss, investment income, realised or unrealised gains, or fees.
Positive amounts increase the closing balance, and negative amounts decrease it.
Each line needs both a label and an amount. A line with only one of the two will be rejected on upload.
Tip: Three purple reference columns help you share out a fund-level figure across holdings: % Fund Held (at end date), % Held (during period) and % Income Distributions (during period). Multiply the fund total by whichever weight suits the figure, then paste the results into an accounting line.
Closing balance (blue)
The Closing Balance is pre-filled with Caruso's calculated figure. It updates automatically as you change other figures in the file, using this formula:
Closing Balance = Opening Balance + Contributions + Transferred In − Cash Distributions − Return of Capital − Transferred Out − Redemptions + Line 1 to 5 amounts
Important: The statement prints whatever is in the Closing Balance cell when you upload the file. If you overwrite it with a different figure, your figure appears on the statement even if it does not match the rows above it.
If you upload the file unchanged, each statement is complete, with the closing balance equal to the holding's value at the end of the period.
Step 4: Upload the data file
Save the file as an Excel workbook (.xlsx)
Return to the statement batch and upload the file
Caruso checks the file and generates the draft statements
The upload is rejected if:
The column headers have been changed or columns added
A statement row has been added, removed or duplicated
A cell contains an Excel error, such as #DIV/0! or #REF!
An amount cell contains text, or has more decimal places than the column displays
An accounting line has a label without an amount, or an amount without a label
If the upload is rejected, the message tells you which column, cell or line to fix. Correct the file and upload it again.
Note: Caruso does not check your amounts against its own figures. Review the draft statements before you confirm.
Step 5: Review and confirm
Preview the draft statements
To make changes, click Replace statement data, then upload an updated file
When you are satisfied, click Confirm
Confirmed statements are published to each investor's documents in the investor portal, and investors receive the standard notification email. You can also download all statements as a ZIP file.
What appears on the statement
Every statement shows these rows, in this order:
Opening balance
Contributions
Transferred in
Cash distributions
Return of capital
Transferred out
Redemptions
Your accounting lines, under your labels
Closing balance
A row with no amount or a zero amount shows as a dash. Negative accounting line amounts appear in parentheses. The header shows the investing entity's name and address, Investing Entity ID, Statement Period and Publish Date, with the fund and unit class below.
Related Articles
If you have any questions or need help at any stage, please contact our Caruso Support team either by email or live chat.