---
url: /docs/lps-04-troubleshooting-and-faqs.md
---
# LP Reporting — Troubleshooting & FAQs

## "Cannot delete a fund with N LP(s) still assigned to it"

You're trying to delete a fund that still has LPs linked to it. Reassign
those LPs to a different fund, or remove them, before deleting the fund.

## "Cannot delete an LP with existing capital calls, distributions, or management fees"

You're trying to delete an LP that already has financial activity recorded
against it. Those capital call, distribution, and management fee records
must be removed first.

## "LP does not belong to the specified fund"

You tried to generate a Capital Account Statement for an LP using a fund
they're not actually assigned to. Double-check you're generating the
statement from the correct LP and fund combination.

## Why does Net IRR say "Not yet calculable"?

Net IRR requires at least two cash flow events (a capital call and a
distribution, for example) to calculate. Until your fund has enough
recorded activity, this figure shows as not yet calculable rather than a
misleading number.

## Why does Dry Powder show "Fully deployed"?

This appears when a fund's dry powder reaches $0 — meaning all committed
capital has been called.

## Does everyone on my team have the same access to LP Reporting?

No. What each member can change depends on their role:

| Action | Who can do it |
|---|---|
| Add and edit LPs | Admin, Partner |
| Send capital calls and distributions | Admin, Partner |
| Generate LP reports and statements | Admin, Partner |
| Invite people to an LP's portal, and revoke access | Admin, Partner (Manage LPs) |
| Share documents with LP portals | Admin, Partner (Generate LP reports) |
| Add and edit funds | Admin |
| View funds and LP records | Everyone, including Viewers |

Admins can also limit a member to specific funds. That member then only sees
those funds and their LPs, capital calls, distributions, management fees,
notices, and statements. See [Settings — Overview & Concepts](settings-01-overview-and-concepts.md)
for the full roles table.

## "The draft stated figures that aren't in this letter"

Cairn Intelligence wrote a number that doesn't match the letter's fixed
figures, so the draft wasn't saved. Click **Draft** again; drafts vary, and
the next one usually passes. You can also write the section yourself.

## Why is Approve greyed out?

Either you have unsaved changes (click **Save changes** first), or the
**Overview** is empty. The overview is required before approving.

## How do I fix a letter that's already approved?

Open it and click **Create new version**. The new version is a draft with
the figures as they are now; edit it and approve it. The approved letter
stays on record.

## A portfolio company is missing from the letter

Letters include the companies linked to the fund. Link the company to the
fund on its page (**Company info › Funds**), then create a new letter.

## Called capital in the letter differs from the fund page

The letter counts only capital calls issued on or before the quarter end.
Draft calls, cancelled calls, and calls dated after the quarter end are
left out.

## My LP didn't get the portal invitation

* Check the address on the LP's **LP portal** tab, and ask them to look in
  spam for an email from Cairn. Click **Resend** to send it again.
* If the row says **Already has a Cairn sign-in**, no email was sent. Tell
  them to sign in at Cairn; the portal is there when they do.

## My LP can't see the Q3 statement

It probably isn't shared. On the LP's **LP portal** tab, check that the
statement shows **Shared**, and click **Share** if not. Also check they
signed in with the email you invited: a different address doesn't see the
portal.

## Why doesn't my LP see value or TVPI?

They need the fund's NAV, which only an approved quarterly letter fixes.
Share the letter for the same quarter as the LP's latest shared statement,
and value and TVPI appear. See [How the LP portal
works](lps-03-advanced-and-customization.md#how-the-lp-portal-works).

## Why can't I share this letter?

Only approved letters can be shared. Open the letter, finish it, and
approve it first.

## Can LPs upload documents, or get an email when something is shared?

Not yet. LPs can only view and download what you share, and Cairn doesn't
email them when you share something new.

## I added an LP but it isn't in the list

The list shows one fund's LPs at a time. Check the fund selector: the LP may
be in a different fund. An LP that isn't in any fund appears in a notice
above the table, **N LPs aren't in any fund**, where you can choose its
fund. See [Place an LP that isn't in a
fund](lps-02-how-tos-and-workflows.md#place-an-lp-that-isn-t-in-a-fund).

## "Capital call #N isn't split"

The call was recorded without saying what it paid for, so the ILPA report
counts all of it as investments. Split it from the report's **Points to
check** (see [Split a call recorded before the
split](lps-02-how-tos-and-workflows.md#split-a-call-recorded-before-the-split)).

## Why is Approve greyed out on an ILPA report?

Either you have unsaved changes in **Your figures** (click **Save and work
out again**), or there's no NAV at the quarter end. The NAV is required
before approving.

## "There's no beginning NAV"

The report has no NAV for the start of the quarter or year, so it can't
work out the gain or loss for that period. Enter it under **Your figures**.
It fills in by itself once you've approved the previous quarter's report.

## "LPs' figures don't add up to the fund's"

The allocations of a call, distribution, fee, or expense don't add up to
its total, usually because an allocation was edited or an LP joined the
fund after it was recorded. Check that record's allocations.

## A company has no fair value

It has no ownership % or no valuation at the quarter end. Add them on the
company's page; the cost still shows in the schedule of investments.

## Why doesn't Cairn calculate carry?

Carried interest depends on your fund's waterfall (hurdle, catch-up, and
how distributions are ordered), which Cairn doesn't hold yet. Enter the
figures your fund administrator or finance team works out.

## How do I correct an approved ILPA report?

Open it and click **Create new version**, change it, and approve it.
Sharing the new version takes back the old one from LPs.

## Can an LP see other LPs' figures in an ILPA report?

No. Each LP's copy has the fund's figures and only their own. Your points
to check are left out too.

## Does an ILPA report use AI credits?

No. Its figures come from your records and the figures you enter.