The following broad options are available in Billing Settings. Alternate Billing Groups (also known as Billing Subtenants) may be established to have different configurations of these rules for different scenarios. See Creating and Configuring Subtentants for more information.

Billing settings are reached by navigating to Run Business > Billing and clicking the settings control in the upper left.

Billing Period

Select which interval to bill on.

• Monthly: Bill on the end of each month.
• Quarterly (Calendar): Bill at the end of each calendar quarter, i.e. March 31, June 30, September 30, and December 31.
• Quarterly (Anniversary): Bill at 3-month intervals beginning the end of the Account’s Billing Start Date month. For example, if an account’s billing start date is Feb 15, the account will be billed every 3 months starting at the end of February.

Note that calculated fees may vary between intervals based on the actual number of days in the interval.

Billing Method

Select whether to bill in Arrears (skip next three settings) or Advance (configure Adjustment Frequency, Adjustment Balance to Bill On, and Adjustment Settings below). For details on how adjustments happen for Advance billing, see Advance Fee Billing Adjustments.

Adjustment Frequency

If billing in advance, set whether the billed amount will be adjusted Monthly or Quarterly Note that if billing Monthly you can only adjust Monthly.

Adjustment Balance to Bill On

Set to calculate adjustments based on the Average Daily Balance or Period End Balance (period based on selection made above).

Adjustment Settings

Set which events, if any, will flag a billing adjustment: Account Opening, Account Closing, and/or Money Flows of a Minimum amount or more.

Accounting Method

Currently only Total Account is supported.

Account Balance to Bill On

Set to bill on the Average Daily Balance (to ensure pro-rated billing), Period End Balance (period based on selection made above), or Anniversary Month-End Balance which bills based on the balance at the last month-end anniversary of the account billing start date. For example, an account that began billing in January will have the end-of-January balance used to calculate billing until the next January.

Account Billing Start

Set when to start billing for an account by default:

• Billing Start Date: Accounts will use the Account Open Date as the billing start. (If the Account was imported and not opened in the Portfolio Manager, it will use the earliest buy date it can find as the Start Date. If no date is found, the Start Date must be set manually for that Account.)
• Initial Funding Date: The billing start date will be automatically set to the date the account first has a positive balance.
• First Purchase Date: The billing start date will be automatically set to the date of the first purchase transaction in the account.

Outside Managed Accounts

Determine how to use Outside Managed Accounts for fee billing. This option will appear once for each outside data feed enabled (such as DST or MX) and must be selected for each feed. The default setting for each feed is Exclude from billing.

• Calculate fees ¹: Accounts are subject to full billing. Accounts are used for breakpoint determination and fees are calculated for the accounts.
Note: Unless an account has another account designated to pay its fees at a Direct Custodian, the advisor is responsible for submitting these bills independently of the Portfolio Manager.
• Exclude from billing: The Portfolio Management billing engine will ignore the account for all calculations and billing.
• Use for breakpoint determination only but calculate no fees: The account values will be used to determine the fee rate for the remaining billable accounts but will be exempt from actual billing.

¹ Full continuity of data is required for Average Daily Billing. AdvisorEngine recommends Month-End billing for households with Outside Managed accounts. If Average Daily is used, account total market values should be verified for accuracy. Contact AdvisorEngine Support for details.

Fee Types

Set the fee types you collect. Note that you may only choose either Total or a combination of the remaining three options. If you use Fidelity or Pershing custodial integration, set the Credit Account the fees are sent to and the Credit Account’s Source Code.

• Total: Charge fees that encompass all other fees.
• Advisor: Charge an Advisor fee.
• Technology: Charge Advisors/Clients a technology fee.
• Platform: Charge Advisors/Clients a fee for using the Portfolio Manager.