Billing Defaults

Enterprise:

XYPN will set up your initial accounts per your instructions in regards to basic billing settings. However, for all new accounts Orion will default to billing in ARREARS, QUARTERLY, USING AVG DAILY BALANCE, with Fee Schedule Unassigned, and INCLUDING ACCRUED INTEREST. Custodial cost basis is used. If these do not match your billing settings, you'll need to update each new account opens under your master. You can do this as they come in, or as a mass edit prior to billing (I recommend the second option, to save you time).

In addition, there are some database settings that will affect billing. These cannot be edited.

All cashflows over $5K (contributions and distributions) will be tagged for proration at quarter end. This applies only to members who bill in advance, using period end value. Accounts billed in arrears, using period end value, will automatically pick up all cashflows and create adjustments in the next billing cycle.
New accounts opened mid-quarter will be billed at the next quarter end, rather than at time of opening. The bill will prorate the amount for the number of days the accounts were funded.

Database:

Advisors using the Database will be able to customize all database settings. Much of this is done during the onboarding process, but you may make adjustments as you see fit. It's highly recommended that you keep track of these settings in one place, so it's easy to reference. For example, does the HH Overview show TWR or IRR? Is accrued interest for bonds included in billing? etc. Reference sheets like this are really helpful, especially when a client asks a question regarding a complicated report.