If a client remits a payment before it is due, you can enter this as a new billing item. This will be discounted from the Billing Summary generated during the period in which the payment is applied.
To apply a discount for a pre-payment made by 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 Billings screen toolbar, click New Billing. The Billing dialog box opens.
From the Billing Type drop-down field, be sure Payment 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 | Select the name of the client, account or group to whom this payment credit will be applied. Only one item can be selected here. |
Payment Date | The date you received the payment from the client. |
Payment Method | Select the means by which the payment was received from the client. |
Reference Number | You can enter a reference number here for the transaction, such as a confirmation number when a credit card payment, or a check number. |
Amount | The dollar amount of the payment. This amount will be discounted from the client’s bill during the period identified in the Payment Date field. |
Description | Enter a note that will serve as a reminder as to why this item was created. |
5. Click Save + Close. The payment adjustment will be subtracted on any Billing Summary report or fee data files generated for the period covered.