After you have determined your Fund Fee Types and have set up all the Funds that are charged Administrative Fees, you can assess your Admin Fees.
- Navigate to Admin Fees from the Home page.
- Click on Change Fund from the left-side menu.
- Under Set Admin Fee Fund, select the Fund that will receive the Admin Fee revenue.
- Click Create from the left-side menu.
- Under Create Admin Fees:
- To the right of Calculate Date, enter when the Admin Fees should be calculated.
- To the right of Post Date, enter when the Admin Fee transactions should be posted.
- Enter a Description of the Admin Fee being charged
- Click Next to charge the Admin Fees.
- Select Post from the left-side menu to Post the Admin Fees.
If there are Funds missing that should be charged, Funds listed that should not be charged, or other items that need correction, you can correct and re-run the admin fees.
- Select the Admin Fee ID #
- Choose Unpost from the left side menu
- Pick Delete to remove all the transactions.
- Make the needed corrections in your system and re-run the Admin Fees
For Admin Fees that are assessed quarterly based on the quarter ending market value of the fund follow these steps:
- Go to Admin Fees and select Fund Fee Types from the left menu
- Click into an Admin Fee that charges a Percent Quarterly
Notice there is a field called "Use Average Daily Balance" checked "Yes"
- Uncheck the Use Average Daily Balance check box
- Pick the Update button
Continue to do this for the other fee types as needed.
If you change your mind and want to use the Average Daily Balance calculation, just remember to return and check "Yes" on the Average Daily Balance check box.