LPs and fund admins should track recycling at the **individual LP capital account** level, not just fund-wide.

- Maintain a per-LP schedule with:
- total capital contributions
- cumulative distributions returned
- amount by which distributions have met or exceeded contributions
- increase to that LP’s **Unused Capital Commitment**
- recycled capital actually re-called
- Update this after **every distribution and capital call**
- This preserves a clear distinction between:
- **original commitments**
- **recycled capacity**
- **recalled recycled capital**

If simplicity is the priority, many smaller or first-time funds set recycling to **0%** to avoid this tracking burden.

References:
- https://decilehub.com/base/1-general_questions/163618-how-do-managers-track-recycled-amount-capacity-per-lp-and-when-is-0-recycling-right-for-a-10m-fund
- https://decilehub.com/base/1-general_questions/163740-what-is-the-reason-behind-setting-recycled-amount-to-0-as-default