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 billing period for a Billing Group, an option now appears to designate the debit file to be queued for transmission to the custodian after 7 PM Eastern US time. At that time, all queued files are combined and sent in a single consolidated file to be processed by Pershing.
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Billing Groups are a type of Subtenant. To create a new Billing Group, see Creating and Configuring Subtenants, and select the Billing style Subtenant during the creation process.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 ...Billing Reconciliation Report
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