Just Released - Bulk deposit reconciliation

At Caruso, we understand that fund managers face a multitude of operational complexities, whether they are handling daily deposits for open-ended funds or managing capital calls for upcoming investments.

Caruso now offers a seamless solution for finance teams that minimises manual tasks and reduces errors.

Effortless deposit reconciliation for fund managers

Whether fund managers are processing daily deposits for an open-ended fund or tracking deposits related to a capital call for an upcoming settlement or investment, Caruso streamlines and automates the deposit reconciliation process.

Traditional deposit reconciliation processes are often manual, time-consuming, and prone to human error. The process would involve matching individual bank transactions to investor accounts. These inefficiencies can result in delayed investor communication and inaccurate financial reporting, creating friction with investors and increasing operational risk.

With bulk deposit reconciliation, Caruso reduces the burden on finance teams, accelerating reconciliation workflows and minimising errors. By automating the majority of the process—through intelligent matching algorithms based on payment references, payer details, and bank account information—this tool frees up valuable time, allowing teams to focus on higher-value activities.

Bulk import and automated suggestions

Finance teams can now bulk import transactions by uploading a bank statement directly into Caruso. The system provides automated suggestions for likely transaction matches, helping to speed up the reconciliation process. Each suggestion is backed by a confidence score based on key identifiers such as:

• Payment reference
• Payer name
• Payer bank account

This means you can quickly and accurately match deposits to their corresponding orders without the need for tedious manual entry. In future, Caruso will support direct real-time bank feeds, eliminating the need for manual data imports.

Built-in flexibility

While Caruso’s matching algorithm is highly accurate, there are always exceptions. In situations where an investor’s payment reference is missing, there’s a typo, or the payment comes from an unrecognised account, Caruso gives admin users the flexibility to manually search for the correct order. This ensures that all deposits can be accurately reconciled, even when automation isn’t able to make a confident match.

Admin users also have the option to delete irrelevant transactions and undo incorrectly matched deposits, providing full control over the reconciliation process.

Preview Transactions Before Finalising

Before finalising a reconciliation, admin users can review a detailed preview of each transaction alongside the suggested order. The preview includes:

• The status of the order
• Capital committed (approved allocation amount)
• Capital contributed (any previous payments to date)
• Up-to-date balance of amounts owed

This detailed view ensures that every transaction is accurately reconciled, and no critical information is overlooked. Once a deposit is reconciled, teams can utilise granular reports to audit all reconciled payments in bulk if required.

As a unified registry, fund managers can issue units from the date of payment, ensuring investors automatically start earning interest or distributions for the correct period.

Automatic Investor Receipts

To enhance transparency and investor communication, Caruso offers the option to send automatic deposit receipts to investors after reconciliation. This feature helps keep investors informed of their contributions at every step, improving the overall investor experience.

If you want to see some of these features for yourself, simply email [email protected] and we can organise a product demonstration.