Just after quarter end, you'll need to complete a billing audit to makes sure all the correct specs and fee assignments are set up on the platform. All new accounts come in with certain defaults, so we'll do a mass update of these at quarter end to update all of your accounts to match your firm's settings. In other words, don't worry if you check this mid-quarter and everything doesn't line up exactly as you had expected.
Here are instructions, followed by a video tutorial:
- Open the Billing Audit app and select "All Accounts" under the Account Audit section in the menu on the left-hand side of the screen.
- Change your view to "Rep Quarter End Billing." Here you can see each account, the fee schedule assigned, as well as how the account is billed (advance/arrears, avg daily balance/period end value, etc.) We did our best to replicate what you had set up in RobustWealth, but not everything carried over exactly the same.
- If you see any errors or missing fee schedules, just shoot us an email and we'll make the updates for you.
- Once all advisors have audited their information, we will send out a "Mock Bill" for you to review prior to actual quarter end billing.