Definition: A recurring accounting cycle in which all financial transactions for the previous month are finalized and verified. It relies heavily on reconciliation to ensure internal sub-ledgers, custodian statements, and bank balances are in perfect agreement before performance reports and financial statements are issued to investors.
Example: On the first business day of the month, an operations team resolves all remaining breaks in cash and position accounts. They must ensure every trade is settled and that all interest and dividends are accurately reflected so the final NAV can be calculated.
Explore the IVP Reconciliation Solution
The IVP Reconciliation Solution transforms month-end close from a high-pressure manual sprint into a streamlined, automated workflow. By maintaining daily and intraday reconciliations throughout the month, our integrated model ensures most discrepancies are resolved long before the close begins. IVP’s team supports this by performing deep-dive investigations into complex month-end exceptions, enabling firms to strike the NAV faster and with significantly higher precision.
