To access a video, right-click on the hyperlink and select Open in new window.
Generating Fee Data - This video demonstrates how to generate fee data as part of the overall billing process.
The Generate Fee Data icon allows you to see the amounts you will be billing for clients, accounts or groups. In addition to seeing this information on the Billing page, you can export it to Excel, or use it for certain management-level reports. When you generate the Billing Summary report or custodian fee file, the fee data is generated automatically, so you do not need to use the Generate Fee Data icon for these reasons.
However, if you want to analyze fee data for your practice, then you will need to first generate the fee data.
To generate fee data for your practice, do the following:
From the Client Management or Portfolio Management tab, select the Billing page.
From the toolbar located above the grid, click Generate Fee Data. The Generate Fee Data dialog box opens.
From the Generate for drop-down field, select whether to generate fee data for clients, accounts or groups.
In the results area, highlight the name(s) of the clients, accounts or groups for whom you want to generate fee data, and then click Add to move them to the Selected area.
Once all entries have been added, click OK. A new Generate Fee Data dialog box opens (see examples below).
Select the Billing Period using the drop-down menu.
If you bill in advance, make a selection from the Fee Type drop-down field. Select Regular for standard billing. Select New Account if you have an account that is new within the latest billing period.
Note: If you select New Account, the Billing Balance Date field appears. The table below describes the three options here:
Options |
Descriptions |
Billing Inception Date |
This option uses the value in the Billing Start Date field from the Account Profile page of the account. |
Beginning of the 1st Full Month |
This option uses the balance as of the first day of the next month after the Billing Start Date field from the Account Profile page of the account. |
Custom Date |
Enter a custom date here as of when the management fee calculation should be run. |
Click OK. Depending on the number of clients, accounts or groups you are generating fee data for, it could take a couple of minutes to finish generating the data.
A message could appear, asking if you want to see the warning message. To see information about missing prices, click OK. Otherwise, click Cancel.
The fee data now appears on the Billing page. Scroll to the right to see the Amount column, which is what your clients will see on the Billing Summary report. You can also use the Data Filter icon on the toolbar to help reduce the number of rows showing on the page.
If you do not need to generate any adjustments, charges or credits, you are ready to generate the Billing Summary. Click here for details on how to do this.
Once you successfully billed for a particular period, you can select the rows on the Billing page and use the Action menu to delete them.