Billing Exceptions

We all know they're a pain, but sometimes there's no way around them. Ascent offers AMAZING tutorials on customizing your billing and adding any necessary exceptions to clients and accounts. I've taken the liberty to list out some of the Billing Trailhead "checkpoints" that will walk you through each type of exception. The notes are NOT all inclusive, and just meant to serve as additional guidelines. Feel free to edit.

  1. Linking Accounts for Billing (applicable when billing in arrears)
    1. Done when transferring to new account or custodian, but no gap in data or flows in/out
      1. Cancel old account
        1. Zero out
        2. DO NOT create final bill
        3. Once cancelled, mark "Active" again via the general edit screen
        4. Find new account (MUST be in same household as the account its being linked to)
          1. Edit Account>Billing>Linked Account (select account to be linked)
            1. NOTE: Linking must always be done in the NEW account, and the linked account MUST be active.
  2. No Fee Accounts
    1. Don't want to bill an account? Assign "No Fee."
      1. HOWEVER, this account's value WILL be included in the HH aggregate value for billing, unless you exclude. EX: if you exclude a $1M account, and there is another account valued at $2M, linear structure will include the $1M when creating breakpoints.
      2. Remove from aggregate?
        1. Account "general billing" tab, deselect "include in aggregate" and ensure account has "no fee" fee schedule
  3. General Account Adjustment
    1. Under Account>Billing>General account
      1. Enter any one-time adjustments (ex: discount $100 as refund for xyz)
        1. Entity should always be REP
  4. Cancelling Accounts
    1. If the account is no longer being managed by your firm
    2. If a client terminates with your firm
    3. If an account transfers from one account to another
    4. You simply do not want the account downloading to the Orion Platform
      1. NOTE: You are invoiced for any account on the Orion platform that has a balance, regardless if they are active or not, so it is vital that you cancel them correctly in the system
  5. Excluding Assets from Billing
    1. This function is available only at the advisor/database level.
  6. Relating Households for Billing
    1. How to combine household values for billing breakpoint purposes
      1. Note: REPs need to complete in Portfolio Audit App, as they do not have access to billing audit app
  7. Pay Methods
    1. Discuss pay method options
    2. Direct vs. Indirect
    3. How to set one account to pay for another
    4. Additional information
      1. Note: REPs need to complete in Portfolio Audit App, as they do not have access to billing audit app
  8. Recurring Adjustments
    1. Entity is always REP
    2. Using Portfolio Audit, not Billing Audit