Reporting periods
How the active period works, how cadence is decided, and when the next period opens.
Everything in LP Reporting is recorded against a reporting period. Getting the period right is what keeps a figure attached to the quarter it belongs to.
The active period is a fund-level setting
Your fund has one active reporting period at a time. It is set deliberately by an owner or administrator — the platform never rolls it over just because a calendar date passed.
The active period is shown on every reporting screen and on Mission Control, so you always know which cycle you are working in.
Cadence
| Cadence | Used for |
|---|---|
| Quarterly | The common case for LP reporting |
| Half-yearly | LPs on a bi-annual reporting cycle |
| Annual | LPs that ask for a single yearly return |
| Monthly | Specific high-risk KPIs, rolled up into the quarterly and annual figures |
Each LP template records whether it is reported quarterly, half-yearly or annually, and that frequency carries through the platform — into the KPIs extracted from it, into which periods you can select, and into when the next period opens.
Selecting a period
Period pickers follow the relevant LP's cadence. If you are working on a period that is not the fund's active period, the screen shows a mismatch banner rather than letting the difference pass unnoticed.
Period pickers currently offer the two years before the current period. Data loaded for periods older than that window is stored, but cannot yet be selected when generating a report.
When the next period opens
The next period opens automatically once a cycle completes, and its length is derived from the template's declared reporting frequency — quarterly templates advance a quarter, half-yearly templates advance six months, and annual templates advance a year. A cycle completes when the last outstanding input for the period has been approved and the automatic aggregation and draft-report steps have run.
The platform guards this: a completed cycle cannot advance the period twice, and two automatic runs cannot claim the same fund and period at once.
Corrections after a cycle closes
If a value is corrected after its cycle has already completed, the platform raises a stale-correction to-do on Mission Control. Figures that were already reported are not silently rewritten — the flag exists so your team can decide whether the affected LP needs a re-issued report.
Related
- Data Quality Check — approval always re-checks against current data.
- Reports — choosing the LP and period to report on.