Financial statements
A balance sheet and P&L where every figure traces to a journal entry.
Your NAV rests on a full set of books, not a snapshot. PennyWorks produces the statements a fund reports on and an auditor tests: a balance sheet, a profit and loss statement, and the ledger behind them.
What you get
Section titled “What you get”- Balance sheet. Assets and liabilities at any period close. That includes positions in flight, such as a bridge leg that has left one chain and not yet arrived on another. A snapshot tool drops those.
- Profit and loss. Realized and unrealized results, trading gains, fees, and income. That includes the income that never had a transaction, which has to be accrued.
- The ledger behind them. Every line is a set of double-entry journal entries, so the statements are internally consistent by construction.
One move, two ways to cut it
Section titled “One move, two ways to cut it”A period close has two readers. Your auditor and your tax return want the move cut one way. Your portfolio manager wants it cut another, to see where the return came from.
Both cuts start and end on the same balance, and both account for the same return.
One ledger produces both. That is the point of keeping one set of books rather than assembling a number per audience.
Why it holds up
Section titled “Why it holds up”Every figure traces down to a journal entry, and every entry back to a specific transaction, onchain, exchange, or OTC. At each period close the books are reconciled against the onchain snapshot, so the statements agree with the chain as well as with themselves. That audit trail is what separates a number you can report from a number you can defend.
The same ledger also produces your NAV and your capital gains and tax lots, so all three tell one story.