Fund financial statements with every number tied to the ledger before the auditor asks — the agents draft and tie, your reporting team fixes and signs
Every number tied to the ledger before the auditor asks, each tick signed and cited.
See one case, screen by screen ↓Fund Financial Statements is fund financial reporting software that drafts and ties out the annual and interim financial statements of investment funds. Seven agents build the statements and notes from each administrator's trial balance, put an audit tick mark beside every number — tied to the ledger, tied to last year's filing, footed, or open — and trace every break to its cause. The reporting manager fixes and approves, the fund controller signs, and the treasurer certifies the Form N-CSR.
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Every investment fund files audited statements on a hard clock: a US registered fund's shareholder report online by day 60 and its Form N-CSR by day 70, a UCITS annual report within four months, a private fund's audited statements to investors within 120 days. Each fund is a few hundred numbers, drafted from the administrator's trial balance and the chart-of-accounts mapping, then ticked by hand against the ledger, last year's filed report and the other statements. A mid-size bond fund carries 300 to 600 of them, and a fund complex ties out all of its funds in the same few weeks.
The misstatements that hurt are not arithmetic. A forward contract that opened at a loss and closed at a gain can sit in a liability account because the mapping maps by account, not by sign: total assets and total liabilities are both short, net assets still tie, and the administrator's own check passes. A note keeps last year's wording, a French edition keeps last year's total, a fee cut never reaches the German note. The auditor finds it as a proposed adjustment — a redraft and a re-tie — or nobody does until an amended N-CSR.
Estimated split for a mid-size bond fund of 300 to 600 numbers at 2 to 3 minutes per number, by hand and with the solution.
Seven agents draft, tie and cross-foot every number and trace each break to its cause; the reporting manager fixes, the controller signs.
Quillfield Capital closes 180 funds this season under US GAAP, IFRS and Luxembourg GAAP. The Quillfield Strategic Income Fund, a series of Quillfield Funds Trust with net assets of $1,291,503,798 at August 31, 2026, has 412 numbers to tie. Here is its Monday, screen by screen, in the working solution.
Overnight the agents drafted and tied 149 of 180 funds: 58,904 numbers ticked, 37 open in 9 funds. The next deadline is Friday, October 30 — shareholder reports online, N-CSR filed by November 9. Six items need Grace, each with one next step. She tells the agents in plain words: “Re-tie the High Yield Bond Fund when TB v3 is final.” The Intake agent will watch Ferrand Fund Services for trial balance v3, re-draft and re-tie the fund, and tell her and Mei Lin Tan.
“Nothing has been cleared, signed or released without a person.”
The draft opens as it will be filed, with an auditor's tick mark beside every number: tied to the ledger (216), tied to last year (137), footed (55), open (4). She clicks the red tick on unrealized appreciation on forward foreign currency contracts, $2,212,880. The Cross-foot agent explains: the Schedule of Investments totals $1,284,610,220 of investments and forward contract appreciation, but the Statement of Assets and Liabilities shows $1,283,410,220 for the same two lines — $1,200,000 short.
“Net assets agree at $1,291,503,798, so total assets and total liabilities are both $1,200,000 low — which is why the administrator's net-asset check passed.”
The Evidence tab sets the two statements side by side: investments of $1,281,197,340 agree on both, forward contract appreciation reads $3,412,880 on the schedule and $2,212,880 in the draft balance sheet. Below sit the trial-balance accounts for forward contracts, each with its balance and the line it maps to. The footing is done by code, not by a language model.
The Tie-out agent walked the $1,200,000 to forward contract FX-0611 — buy EUR 98,400,000 with Halberd Bank N.A., settling November 18, 2026. It opened at a loss on July 14 and is a gain of $1,200,000 at August 31, so its balance is a debit in liability account 24520-0611. Rule MR-FWD-02 v4 maps the whole 24500 range to liabilities, whatever the sign. Last year's Note 2 says the Fund does not offset derivative assets and liabilities.
Proposed v5: “Each forward contract maps by the sign of its period-end balance: a debit to unrealized appreciation (asset), a credit to unrealized depreciation (liability).”
Grace applies mapping rule MR-FWD-02 v5 with reason code MAP-DERIV-SIGN and a note for the record. She is the maker; Marcus Bell, fund controller, is the checker, and signing stays locked until he approves. The agents re-tie: total assets $1,309,123,888, every tick green. She approves the fund for sign-off.
“All 412 ticks resolved. Approve the fund for sign-off; the controller signs after checking the mapping change.”
The agents searched every fund for the same cause and found two: the Global Bond Fund (FX-0622, $612,400, 3 open ticks) and the Emerging Markets Debt Fund (FX-0590, $238,150, 2 open ticks), each shown with what the fix would change before anyone applies it. Grace applies the rule to both. Open ticks across the cycle fall from 37 to 28, and funds with open items from 9 to 6.
The Notes agent compared 1,341 notes with last year and the checklist and had two questions for Grace. Last year's Note 2(m) names the portfolio managers as the chief operating decision maker, but the Investment Committee charter adopted in March 2026 gives the committee that role, and under ASU 2023-07 the note must name it. And the board's September 17 minutes cut the Class A distribution and service fee from 0.25% to 0.20% — a non-recognized subsequent event for Note 9. Each comes with drafted wording and its sources; she accepts both.
For the Quillfield Global Funds SICAV, every figure in each edition is matched to the English master and shown beside the original-language page. Three differ: the French Euro Corporate Bond statement carries last year's total net assets (EUR 1 412 806 337 against EUR 1,486,220,914), a German note keeps the old 0.65% Class A management fee, and a German statement of operations reverses a sign.
The Language agent compares every figure — values, signs, dates and rates — and never edits an edition or translates prose for publication.
Ashby & Vane LLP's request list has 126 items; 112 are answered and 8 are drafted, waiting for Grace's release. PBC-041 asks for the forward contract confirmations and valuation at August 31. The draft agrees eight contracts — appreciation $3,412,880, depreciation $1,946,310 — to the counterparty confirmations and the holdings ledger, with the mapping change and its maker-checker record attached.
“The answer cites mapping change MR-FWD-02 v5, which waits for Marcus Bell's approval. Release after he approves.”
Marcus approves mapping change MR-FWD-02 v5 as checker; he could not have made it. Then he signs the Strategic Income Fund's statements with reason code SIGN-ALL-TIED and his electronic signature. Helen Ward, the fund treasurer, will certify the trust's Form N-CSR once all 64 series are signed.
“Your signature means: the statements present fairly, every number was tied and reviewed by someone other than its preparer.”
The same annual cycle, seen by five of the people who carry it — what the season looked like, and what it looks like now.
Seven agents draft, tie and cross-foot every number and trace each break to its cause; the reporting manager fixes, the controller signs.
Collects each fund's final trial balance, holdings and capital records from the fund accountants, checks that debits equal credits and the file is marked final, and pulls last year's filed report from the filings archive.
Builds the Statement of Assets and Liabilities, Schedule of Investments, Statement of Operations, Statements of Changes in Net Assets, Financial Highlights and notes from the trial balance, the versioned mapping and the framework template — US GAAP and Regulation S-X, IFRS or Luxembourg GAAP — and rolls the notes forward.
Ties every number to the trial balance, holdings, capital records or last year's report at a $0 tolerance. When a number does not tie, it traces the break — account, mapping rule, transaction, policy — proposes a fix with its effect and asks the reporting manager.
Re-adds every total and subtotal and checks that every figure appearing in more than one place agrees — schedule of investments, balance sheet, highlights and notes — with arithmetic done by deterministic code.
Compares each note with last year's filed note and answers each disclosure checklist item with where it is met and the reference; drafts wording for new disclosures from cited sources such as board minutes, charters and agreements.
Reads each German and French edition in its own language and matches every figure, date and rate to the English master by position and meaning, reporting each difference with both pages.
Matches each item on the auditor's request list to funds, ticks and evidence, drafts a short answer citing each source, and tracks requests and the auditor's proposed adjustments.
Fix, approve, sign. The agents propose; a named person decides.
Ask the agents about a fund, a statement line or a deadline — or tell them what to do. Answers cite their sources, and instructions are proposed to you first.
Why is the Strategic Income Fund $1.2 million short?
Its Schedule of Investments totals $1,284,610,220, but the balance sheet shows $1,283,410,220 for the same lines. The gap is one forward contract, FX-0611: a $1,200,000 gain booked in liability account 24520-0611, because rule MR-FWD-02 maps by account, not by sign. Net assets still tie at $1,291,503,798, so the administrator's check passed. Last year's policy note says derivative assets and liabilities are not offset. I have opened the four open ticks with the proposed fix — you decide.
Which funds share a cause, and what fixes them?
37 open ticks in 9 funds come from 7 causes. The largest: a trade booked after the final trial balance in the High Yield Bond Fund (7 ticks, past SLA); a prior-year column that differs from the filed report in the US Mid Cap Value Fund (6); and the forward-contract mapping in three funds (9 ticks, one rule fixes all three). I have grouped them by cause on Open items.
What is blocking the Funds Trust N-CSR?
Helen Ward can certify once all 64 series of the trust are signed. Those not yet signed are in review or have open ticks, and the mapping change MR-FWD-02 v5 waits for Marcus Bell. Filing deadline: Monday, November 9 (day 70).
Draft the auditor's answer on forward contracts
PBC-041 is drafted: eight forward contracts, appreciation $3,412,880 and depreciation $1,946,310, each agreed to its counterparty confirmation and the holdings ledger, with the mapping change and its maker-checker record attached. It goes to Ashby & Vane LLP only when you release it.
13 screens from the working solution, on its sample data. Pick one to see it large.
The thresholds every number is tied against are settings. The platform administrator proposes a change and a fund controller approves it as a new version.
| Setting | Default | Choose from |
|---|---|---|
| Statement lines | $0 — must agree exactly to the ledger | Tie-out agent, against the trial balance, holdings and capital records |
| Footing and cross-footing | $1 rounding tolerance | Run by code, never by a language model |
| Per-share data | $0.01 | Financial highlights, by share class |
| Percent of net assets | 0.01% | Schedule of investments, by category |
| Agent proposal confidence | 0.90 — below it the agent asks a person | Set per agent, with versioned instructions and a pause switch |
| Edition figures | Exact — value, sign, period and rate | German and French editions against the English master |
| Open tick | 2 business days, then escalate to the fund controller | Cleared tick awaiting review: 1 business day |
| Deadline alerts | T−10, T−5 and T−2 days | Shareholder reports, Form N-CSR, UCITS annual reports and Custody Rule deliveries |
Every figure is labelled: a target the solution is built to, an estimate, a typical published result, or a proven one.
“demo” = seen in the working solution, on its sample fund data · “target” = the design goal, measured in the live solution · “estimated” = our estimate: 300–600 numbers per fund × 2–3 minutes each · “typical” = published rules (SEC Form N-CSR and Tailored Shareholder Reports final rule, adopted October 26, 2022, compliance July 24, 2024 — shareholder report within 60 days, N-CSR by day 70; Advisers Act Rule 206(4)-2, audited statements within 120 days; UCITS Directive 2009/65/EC, Art. 68 — annual report within four months). People, funds, firms and figures named on this page — including Quillfield Capital, Ferrand Fund Services, Ashby & Vane LLP and Halberd Bank N.A. — are fictional: characters and sample data in the working solution.
Fund Financial Statements is fund financial reporting software that drafts and ties out the annual and interim financial statements of investment funds. Seven agents build the statements and notes from each administrator's trial balance, put an audit tick mark beside every number — tied to the ledger, tied to last year's filing, footed, or open — and trace every break to its cause. The reporting manager fixes and approves, the fund controller signs, and the treasurer certifies the Form N-CSR.
A financial statement tie out agrees every number in the statements to its source and to the other statements. Here the Tie-out agent ties each number to the trial balance, holdings, capital records or last year's report at a $0 tolerance, and the Cross-foot agent re-adds every total and checks the statements against each other in code. When the two disagree or a number does not tie, the agents trace the cause and propose a fix for a person to decide.
In the working solution: mutual fund and ETF financial statements under US GAAP, ASC 946 and Regulation S-X for Form N-CSR; a Luxembourg UCITS SICAV under Luxembourg GAAP in English, German and French; an Irish ICAV under IFRS; and private fund statements under US GAAP for the Custody Rule audit. The framework, template and checklist are set per fund family.
Statements are drafted and tied overnight from the final trial balance, so the team starts the day reviewing open ticks rather than building. Deadline alerts run at T−10, T−5 and T−2 days for shareholder reports, Form N-CSR, UCITS annual reports and Custody Rule deliveries, and open ticks escalate to the fund controller after two business days. The treasurer's N-CSR certification unlocks only when every series of the trust is signed.
Yes. The Notes agent compares each note with last year's filed note, answers every disclosure checklist item with its reference, redlines each change with its reason and asks when it cannot explain one — in the demo, the decision-maker disclosure under ASU 2023-07 and a fee cut after period end. It never marks an item not applicable without a person's reason.
The Auditor-request agent matches each item on the provided-by-client list to funds, ticks and evidence and drafts an answer with the files attached. Nothing reaches the auditor until the reporting manager releases it. The auditor also has read-only access to the engaged funds' ticks and evidence, and the auditor's proposed adjustments are recorded against last cycle's.
Yes. The financial statement automation stops at a proposal: the agents draft, tie and propose; people clear red ticks, change mappings, approve funds, sign, certify and release answers, each with a reason code. Preparer, reviewer and signer are three different people on every fund, the maker of a mapping change cannot approve it, and every step is on an append-only audit trail.
The Agentic Solution Engine builds and deploys it from your requirements and documents — your chart-of-accounts mappings, last year's filed reports and disclosure checklists — and it goes live once every quality gate has passed. First-time setup connects your systems of record, imports last year's filed reports, maps the chart of accounts, assigns frameworks and checklists, and invites your people and roles. We will walk you through it on your own funds first.
Every NAV checked against your books before it goes out, with breaks held, not published.
1-min demoFund Administration OversightEvery administrator graded on its evidence, with the cause of each error found and fixed.
1-min demoFund Expense AllocationEvery invoice split with its LPA clause, and nothing the manager owes charged to a fund.
1-min demoWe'll run Fund Financial Statements on your own trial balances and last year's filed reports.