# Accounting Because Enzyme.Onyx enables any type of strategy across unlimited systems, and to preserve the integrity of its tokenized structure, **Vaults deployed with Onyx operate under a non-continuous accounting model.** {% hint style="info" %} A **non-continuous accounting model** means the Vault’s NAV isn’t updated in real time through live price feeds, but only at specific checkpoints defined by the manager or strategy. {% endhint %} ## Holdings Valuation Vault Owners or Admins must regularly value the holdings and positions in their Management Wallet, with the frequency determined at their discretion. \ \ Once the valuation is reported, Enzyme.Onyx calculates the NAV by incorporating other items such as ***Capitalised Expenses***, ***Deferred Income***, and fees, and updates the Vault Share Price accordingly. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.enzyme.finance/onyx-user-documentation/enzyme-vault/accounting.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.