Management fees are normally generated based on the settings you created elsewhere in Morningstar Office. However, if you have not applied (or have excluded) management fees for a certain client, account or group, you can use this method to calculate fees for a Billing Summary.
To apply a one-time management fee to a client, account or group to a Billing Summary (and the custodian fee file), do the following:
From the Client Management or Portfolio Management tab, select the Billing page.
From the Billing page toolbar, click New Billing. The Billing dialog box opens.
From the Billing Type drop-down field, be sure Management Fees is selected.
Use the table below for instructions on how to fill out the fields in this dialog box
| Field Name | Instructions |
| Client Name/Account Name/Group Name | Select the name of the client, account or group to whom this management fee will be applied. Only one item can be selected here. |
| Date | Enter the as-of date for which the management fee is being calculated. |
| Billable Balance | Enter the calue of the client's portfolio (or the value of the account or the portfolio for a group) to be billed. |
| Effective Rate | Enter the rate you are charging for managing the billable balance. |
| Amount | The amount of the charge, as calculated (Billable Balance X Effective Rate) b the system. THis field cannot be modified. This amount will be added to the client's bill during the period identified in the Date field. |
| Discount Method | An optional field, you can use this filed to apply either a dollar amount or percentage discount to the Amount field. |
| Discount Amount/Discount Rate | Enter a number here for a discount to the management fee. |
| Description | Enter a note that will serve as reminder as th why this item was created. |
Click Save + Close. The payment adjustment will be added to any Billing Summary report or fee data files generated for the period covered.