Admin Fees are used to configure, manage, and process the various fees an organization charges to manage a fund. Admin fees are assessed using fund fee types and apply fees, which can be customized based on how an organization wants to charge fees to specific funds.
Who: Finance or accounting teams who configure, manage, and process admin fees for funds.
Use Admin Fees to:
- Charge funds a flat fee, a percentage, or on a tiered basis using fund fee types.
- Create a one-time manual admin fee for a specific fund without setting up a fee type.
- Organize funds into admin fee groups to apply and manage fees across multiple funds at once.
- Exclude specific asset accounts, such as receivables, from fee calculations.
- Enable or disable admin fee functionality using admin fee settings.
Admin Fees Video
The video below provides a brief overview of admin fees.
Create Manual Admin Fees and Admin Fee Groups
Rather than having an admin fee type on a fund and then running the admin fees, a manual admin fee can be created to charge a one-time admin fee to the relevant fund. Funds can be arranged and fees applied by putting funds into admin fee groups.
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Fund Fee Types
Fund Fee Types are used to determine how your organization charges admin fees to specific funds. There are many options for combinations of fee types and apply fees based on how fees are to be assessed. Fund fee types allow charges for a flat fee, a percentage, or a tiered basis. Funds can be added or removed from fund fee types in bulk.
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Process Admin Fees
Once fund fee types are created and they have been applied to relevant funds, admin fees can be charged. Unless Average per Quarter is selected on the admin fee type, asset accounts can be excluded from admin fees to prevent the system from including specific asset accounts such as receivables when calculating the admin fees. If Average per Quarter is selected on the admin fee type, accounts cannot be excluded from the fee calculation because trailing quarters are based on bank and investment account balances.
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Admin Fee Settings
Admin fee settings can enable or disable specific functionality.
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