Dual Reporting
The close file where NAV and the verified scorecard share a cutoff, a reviewer, and one LP send. No Tuesday appendix.
Thursday NAV. Tuesday appendix. One LP who noticed.
Harbor Family Office opened the NAV PDF on Thursday and the occupancy appendix the following Tuesday. The appendix came from a different inbox, with a cutoff two days later than books. On the LP call, they asked why units in the appendix did not match the footnotes in NAV. Nobody in the room had a single file that answered it. Dual reporting is the desk that makes that split expensive enough to stop.
The problem sitting in the fund file
Most impact vehicles already have the numbers. The GP posts books. The deal team tracks units, kWh, loans, or soil tests in a workbook with a name only one person remembers. IR stitches those two worlds the night before the pack is due. When the stitch holds, LPs see a clean story. When it slips, they see two calendars, and they remember the slip longer than they remember the return.
Moko runs Dual Ledger so the stitch is not a heroic IR night. Financials and the verified scorecard close to the same cutoff, in the same working-paper set, and they leave the building in one send. We do not originate the impact figures. We lock each scorecard line to a named source file your deal team already keeps, then we refuse to ship a line that will not tie.
If a scorecard line cannot be tied to a named source file in that close, it stays off the pack. Estimates do not get a stamp.
What Dual Ledger actually does on this seat
Dual reporting is not a second vendor and not an impact consultancy parked beside your administrator. It is the rule that NAV, capital accounts, and the outcome sheet share an owner. The GP still signs the notice. Counsel still owns the filing. The auditor still owns the opinion. Moko posts the books, verifies the scorecard against the files you supply, and ships the pack.
LPs do not need a manifesto. They need to read NAV share and occupied units without opening a second attachment from a different week. That is the whole offer. If your metrics live in five workbooks with no owner, the first close on Dual Ledger will be slower. That is the honest intake, and it is cheaper than another year of Tuesday appendices.
Operating cadence, from intake to the LP send
We do not invent a calendar for you. We map the NAV dates you already run, the LP roster, and the scorecard you already owe. Then we hold both number sets to those dates. The cadence below is the file we actually work.
1. Intake and metric map
On the scope call you send a vehicle, a close date, and the scorecard lines LPs already expect. We name the source file behind each line, the person who owns it, and the day it must land. Lines without an owner do not get a template slot. Email the roster and the last pack to support@mokofund.com if you want that map started before the call.
2. Close file build
Trial balance, investment roll-forward, capital activity, and the scorecard source files sit in one Dual Ledger period folder. If occupancy, loan tape, or soil tests arrive after books cutoff, the scorecard waits. NAV does not go out as a solo PDF with a promise of an appendix.
3. Verify against the files
Each scorecard line is matched to the named file for that cutoff. Utility extracts, rent rolls, payroll rosters, and operator tests all count if they have a date and an owner. A missing month stays blank. Your GP can still discuss the gap on the LP call. We will not invent a number to keep the table full.
4. Who signs
You sign call notices and any GP representation in the pack. Moko signs the admin close checklist: books posted, capital accounts rolled, scorecard lines either verified or omitted. Counsel signs filings. The auditor signs the opinion. We will not sign in those seats.
5. LP pack and audit notes
One send: NAV statement, capital accounts, call and distribution register if the period has activity, verified scorecard, and a source-file index. Working papers stay with the period. An auditor can follow NAV to the trial balance and a scorecard line to the file you named. That is the trail. It is not an audit opinion and it is not a rating. The GP desk sees exceptions and unmatched lines. LPs see the published pack only. If a line failed, it is absent, not footnoted as a guess.
What the pack is, and is not
Out of scope, said plainly
Moko does not originate impact data, promise returns, give legal or tax advice, wire LP capital, or custody assets. Filing support means we assemble the numbers and exhibits counsel asks for. Counsel files. If you want one firm to be counsel, auditor, and administrator, that is not this desk. Hire those firms. Use Dual Ledger for the numbers they consume.
Close notes we keep on the file
Dual reporting fails in two boring ways. The scorecard owner goes quiet in week two, or IR sends NAV early to look responsive. Both create the Tuesday appendix. The fix is operational: one cutoff, one folder, one send. If a line is late, the pack ships without it. LPs prefer a short verified table to a full table they cannot trust.
Questions on a vehicle, a close date, or the scorecard you owe LPs go to support@mokofund.com. Book a scope call with a real cutoff. We will map Dual Ledger to the calendar you already run, not a calendar we invented to look busy.
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