Create, Edit, and Archive Fund Fee Types

Fund Fee Types are a combination of fee types and apply fees, and they determine how fees will be assessed. 

Create a Fund Fee Type

1. Navigate to the Admin Fee page and click Fund Fee Types in the left-side menu.
2. Click Create in the left-side menu.
3. Enter all applicable Create Fund Fee Type information, and then click Create.
   • Name - The name of the fund fee type.
   • Fee Type - Defines how a fund will be charged.
   • Apply Fee - Defines when or how often a fund will be charged.
   • Receiving Fund - Fund that will receive admin fee revenue for this fund fee type.
     • The default is the fund set on the Set Admin Fee Fund page.
   • Revenue Account - The revenue account for this fund fee type.
     • The default is the Admin Fee Revenue account set on the System Default Accounts page.
   • Expense Account - The expense account for this fund fee type.
     • The default is the Admin Fee Expense account set on the System Default Accounts page.
       
        

The fund fee type will then be available for use.

Edit a Fund Fee Type

1. Navigate to the Admin Fee page and click Fund Fee Types in the left-side menu.
2. Click the ID of the fund fee type to be edited.
   
    
3. Click Edit in the left-side menu.
4. Make any necessary edits, and then click Update.
   • If Use QEV Values is checked,  the admin fee calculation will utilize the QEV balances imported into CommunitySuite.
     • Enabling the Use QEV Balance option disables the ability to Exclude or Add accounts during the fee setup.
   • The Maximum Lifetime Fee field allows users to set a lifetime cap on an admin fee type, which provides control over total fee accumulation across the account lifecycle.
   • Check the box for any fund to be added or removed from the fund fee type.
     
      

Archive a Fund Fee Type

1. Navigate to the Admin Fee page and click Fund Fee Types in the left-side menu.
2. Click the ID of the fund fee type to be archived.
   
    
3. Click Archive in the left-side menu.

The archived fund fee type will no longer show in the active list of fund fee types, but will be available in the Archived Fund Fee Types left-side menu, where it can be unarchived.

Calculation Methods

In most settings, the admin fee calculation is based on the sum of all asset accounts. Asset accounts can be excluded from the calculation. If Use Average Trailing Quarters Balance is selected on the admin fee type, the calculation is based on bank and investment accounts only and not total assets.

Excluding accounts from the calculation is not available if using average trailing quarters. A fund must have a distribution type assigned for quarter-ending balances to be tracked in CommunitySuite; this distribution type can be zero percent. The fund will then show the last quarter-end balance in the Distributions section of the Settings tab of the fund. Beginning Balance clients need quarter ending values (QEV) imported for periods prior to their transition to CommunitySuite.

Specific information about Fee Type and Apply Fee is available in Fund Fee Types and Calculations.