Locking the Billing Period
Locking the Billing Period prevents further changes to all billing events during the set billing interval. This will need to be done monthly or quarterly depending on the firm’s billing frequency setting.
Locking the billing period is a required step prior to Generating Fee-Billing Invoices.
Locking the Billing Period Manually
A billing period will lock automatically two weeks after the end of the period. To lock it sooner:
- Navigate to Run Business > Revenue.
- Select the Billing Group and Interval to lock.
- Click the Lock Period toggle. If the interval has not fully completed, the option will be grayed out and unavailable.
- Confirm that you are locking the correct period for the correct billing group.
If needed, a billing peroid can be unlocked using the above steps and changing the Lock Period toggle again.
Pershing Billing File Transmission Upgrades
For firms using AdvisorEngine’s billing feature for accounts at Pershing, the transmission of the fee debit file to Pershing has been upgraded to permit queuing and transmission of files for more than one Billing Group per day. When locking a ...
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 ...
Fee Billing Adjustments
Fee Billing Adjustments using Average Market Value Advisors using Advance billing the option for calculating retroactive adjustments to the fees already charged for the previous period. In addition to the existing default method that calculates ...
Billing Reconciliation Report
The Billing Reconciliation Report allows you to compare the calculated fees from the Billing Engine with the actual fees that were deducted from the account. To view the report, navigate to Run Business > Revenue > Reports and select a billing period ...
Generating Fee-Billing Invoices
Firms have the ability to quickly generate, preview, and share invoices with clients to provide detailed information regarding how their fees were calculated. Visibility for individual invoices may be controlled per-client. Generating Invoices for ...