By investment bank account received a management fee refund from one of my investments in July which I booked as a debit to the investment bank account and a credit to management fees. The investment releases statements on a quarterly basis. The investment includes the management fee refund when it calculates the end of quarter FMV. To reconcile the investment to the statement, I adjust the market valuation account (net of the refund) and the other side of the JE are adjustments to unrealized gains, realized gains, interest income, and management fees (which is also net of the refund). This creates a situation where I am double booking the refund. I know I cannot change the adjustment to the market valuation account. So how can I adjust the market valuation account without creating this double booking situation?
