Billing Troubleshooting

Billing Troubleshooting:

(Very Rough Version)

  1. Billing Fee Generation Issues

    1. Review Households

      • New household marked as "billed"?

      • Inactive?

      • $0 as period end value?

    2. Review Accounts

      • Inactive?

      • $0 as period end value?

      • Unassigned or $0/%0 fee schedule

      • Start date after period end date? (ex: quarter ends 3/31, and billing start date set to 4/4)

      • Cycle month incorrect? (note: everyone is on cycle 1, billed Jan1, Mar1, July1, Sept1).  Anything other than “1” is a problem.

      • "Included in Aggregate"? (removes amount value from billing AUM if box isn’t checked)

    3. Transactions (Database only)

      • Assets excluded?

      • Already billed? (bill=true, can't rebill, so must delete and re-run)

      • MUST be set to period end for money

    4. Other

      • Wrong fee schedule?

      • Correct aggregation?

      • Household relations?

      • Bill # of days (generally around 90/360 days)

      • Adjustments assigned correctly?

  2. Quarter end value doesn't match custodial value??

    1. Exclusion of assets for billing?

    2. Back dated dividends?

    3. Accounts billing via avg daily balance will never match. (to double check they are correct, reps may run the data query “Average Daily Balance by Account - for Household - for Rep.”  They can then total the daily averages, and divide by total days (usually  90 or 91) to find avg daily balance.

  3. Checks and Balances!

    1. Compare fee file to billing file. Not that on the fee file:

      • Account paid to other account doesn't show

      • Only account paying in the HH will show

      • Cancelled/inactive won't show

      • Negative values won't show (can't be uploaded to custodian!!)

      • A separate fee file will be generated for clients paying by check/credit card.