To create capital call & distribution notices for your investors, follow this guide.
- Go to fundwave.app, and sign-in using your private URL (eg: <fund-name>.getfundwave.com)
- Select the fund for which you'd like to create a notice. Tap the plus button at the bottom-right and select 'Capital'
- Fill-in the basic notice details:
- Notice Date: This is the date when you intend to send the notice. Let us assume that we will send it today.
- Due Date: This is the date by when money should exchange hands. If this is a net drawdown, the amount must be received by the investors on this date. For a net distribution, this is the date by when you will effect a transfer to your LP's bank account.
- Reference: A quick reference that will help you remember what this notice relates to. For instance, you can type 'Capital Call for Quarter 1, Year 2021'.
- Purpose: To provide more detail about the notice.
- Select the transaction type and asset, followed by the amount you're calling from (or distributing to) the investor. Choose the allocation basis for the transaction. Record a note to provide more context to the investors.
You can choose to omit entering the asset here if you're not decided on the use of the funds. Also, if you need another head in the dropdown, you can contact Fundwave Support ([email protected]) for assistance to customize your chart of accounts.
- Feel free to add more transactions if you're calling (or distributing funds) for more heads or assets.
Once you're done, click on 'Save'. This will generate your capital notices together with the journal entries, and typically takes about 2 - 4 seconds per investor.
- Reconfirm the allocated amounts for each investor on this screen on the 'Grid view'.
- If everything looks alright, submit the transactions for review. Alternatively, tap edit to make changes.