Capitect provides advisors the ability to bill on custodian and held-away accounts using their fee schedules. This article provides an overview of the steps to perform client billing.
1. Create a fee schedule
Capitect supports fee schedules with:
- Flat Fee / AUM / Combination (both Flat and AUM)
- Billing Periods: Monthly, Quarterly, or Annual
- Billing 'In Arrears' / 'In Advance'
- Using 'End of Period Balance' / 'Daily Average Balances'
(Optional) Enable Billing on Held-Away and Custom Assets
Capitect provides the ability to include held-away accounts and custom assets in billing. To enable billing, the account/assets first need to be set as AUM.
2. Assign Fee Schedule
Capitect allows advisors to assign the fee schedules to a particular household, or group of households.
3. Update Client's Billing Profile
Capitect allows the advisor to update billing settings specific to a client. Client billing settings include fee discounts, prorated billing start/end dates, fee allocation adjustments, and include/excluding specific accounts.
4. Generate Billing Records
Advisors can generate billing records for specific clients or all clients at once.
5. View Records
Individual billing records can be viewed before publishing to client documents.
6. Publish Records
Billing records are available in client documents by first publishing the records.
7. Notify Clients By Email
Once the billing records are published, notify clients with a personal message and a link to their invoice.
8. Export Fee File
Lastly, withdraw client fees by exporting the fee file for the specific custodian.