On the Billing page, you can generate a Billing Summary to send to your client(s). The Billing Summary lists all fees generated for the client's account(s) over the time period you specify.
To generate a Billing Summary, do the following:
In the left navigation pane, click Client Management or Portfolio Management.
In the left-hand column, click Billing. The Billing grid opens.
From the toolbar above the grid, click Billing Summary.
The Select Clients/Groups/Accounts dialog box opens. Select the client/group/account you want, click Add, then click OK.
The Report Options dialog box opens. Click the Cover Page drop-down and select Yes or No.
In the Start Date field, type the start date or click the calendar icon and select the start date.
In the End Date field, type the end date or click the calendar icon and select the end date.
Note: Any management fees, additional charges, or rebates that fall within the date range specified will be included in the Billing Summary.
To ignore saved fee calculations and prompt the program to run management fee calculations from scratch for your fee file, check the Overwrite existing management fee data box. Additional charges created using the New Billing feature will not be overwritten.
Tip: If you have already run a process that prompted Morningstar Office to run management fee calculations for one or more clients, groups or accounts, those calculations will be displayed on the main Billings screen. Processes that prompt management fee calculations include clicking "Generate Fee Data", generating a Billing Summary, or generating a Custodian Fee File.
By default, Morningstar Office will not re-run management fee calculations while generating a Billing Summary if existing management fee calculations for the billing period in question are found to exist previously in the Bilings screen. Instead, if calculations are already displayed on the screen, the fee amounts displayed will be used in your fee file.
If you want accounts that do not have a management fee setting applied to appear on the Billing Summary, check the Include accounts excluded from management fee in Report box.
If you have generated additional fees using the New Billing feature and you intend to deduct those fees from the custodian account, check the Deduct other fees from custodian account box. The fees will be allocated across the client's account according to the allocation settings that you have applied for the client. The total amount due from the client will appear as $0.00.
Check the Mask Account Number box if you do not want account numbers displayed on the report.
If you have selected a billing disclosure within your management fees settings and wish to include it with the Billing Summary, check the Add disclosure to cover page box.
To include a blank second page, check the Add blank 2nd page box.
Click OK. The report is generated.
To save the report within Morningstar Office, enter a name for the document in the Report Title box and click the Save button.
To save the report to your local machine. click the magnifying glass icon.
Select a destination for the file, then click Save.