# Reconcile payments

After [sending notices](/for-general-partners/send-notice.md), you wait for LPs to wire their allocated amounts. This guide explains how Gildi tracks incoming payments and how to close the call when all funds are in.

## How Gildi detects payments

Gildi is connected to the fund's collection account via Stripe. Incoming transfers are matched to capital call line items automatically by reference number — each LP's notice includes a unique payment reference (e.g., `GLD-CC-2026-001-LPA`). When a transfer arrives with that reference, Gildi:

1. Matches it to the LP's call line.
2. Updates the call's **Payments** tab in real time.
3. Sends you (the GP) an in-app notification and email summary.

If an LP wires without the reference number, Gildi flags the transfer as **Unmatched** on the **Payments** tab. You can manually match it to the correct LP line (see below).

## Reading the Payments tab

> *\[Screenshot: the Payments tab on a capital call, showing per-LP rows with amount due, amount received, variance, and status]*

The **Payments** tab on the call shows one row per LP:

| Column              | Meaning                                                                       |
| ------------------- | ----------------------------------------------------------------------------- |
| **LP name**         | The LP entity.                                                                |
| **Amount due**      | Net call amount from the notice.                                              |
| **Amount received** | Sum of matched incoming transfers.                                            |
| **Variance**        | `Amount due − Amount received`. Positive = shortfall; negative = overpayment. |
| **Status**          | Pending / Partial / Paid / Overdue / Defaulted.                               |

The page also shows a fund-level summary: total expected, total received, total outstanding, and the percentage collected.

## Manually matching an unmatched transfer

1. On the **Payments** tab, scroll to the **Unmatched transfers** section.
2. Click the transfer you want to match.
3. Select the LP from the dropdown.
4. Confirm the match. Gildi updates the LP's received amount and recalculates their variance.

## Handling overpayments

If an LP sends more than their notice amount:

* Variance shows a negative number.
* Gildi flags this on the **Payments** tab.
* You can instruct a refund from the same screen (initiates a Stripe return transfer) or apply the surplus as a credit against the LP's next call (records it as a pre-payment on their account).

## Closing the call

When all LPs show **Paid** status (variance = €0):

1. Click **Close call** on the call's overview page.
2. Confirm. The call status changes to **Closed**.
3. The fund's **Capital account** updates: paid-in capital increases for each LP by their net call amount, and unfunded commitments decrease accordingly.

You can also close a call with outstanding balances if you choose to accept partial payment and escalate the rest to default (see below).

## Overdue and defaulted LPs

The call status changes to **Overdue** automatically at midnight on the drawdown due date if any LP has not fully paid. Gildi sends you a summary email listing the overdue LPs and their outstanding amounts.

**To escalate a shortfall to default:**

1. On the **Payments** tab, click the LP's row.
2. Click **Mark as defaulted**.
3. Enter the date of default and any notes for the audit log.
4. Click **Confirm**.

The LP's status changes to **Defaulted** across the fund. They are excluded from future capital call allocations until the default is cured. Gildi flags the default on the GP dashboard and in the fund's LP list.

**To cure a default** (when the LP eventually pays):

1. Go to the fund's **LPs** tab.
2. Find the LP and click **Cure default**.
3. Record the cure date and any penalty amounts collected per the LPA.
4. Click **Save**. The LP's status returns to **Active**.

## Partial close

Some funds allow closing the call when a minimum funding threshold is met (e.g., 95 % of total). To do a partial close:

1. Click **Close call** when the threshold is reached.
2. Gildi warns that some LPs remain outstanding and lists them.
3. Confirm **Close with outstanding balances**.

Outstanding LP balances remain tracked. You can still match late payments against the closed call; Gildi will update the paid-in and unfunded records retroactively.

## Audit trail

Every payment match, manual override, overpayment credit, and default decision is logged with the acting user, timestamp, and reason. Fund administrators and auditors can view the full log on the call's **Activity** tab.


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