In the Calculate Performance Fee Activity panel, you can calculate the performance fee activity amount for performance fees for an entity. At the beginning of each calculation period, all performance fees you need to calculate performance fee activity for all performance fees. This applies to performance fees with a Current Period Variable Expense, Prior Period Budgeted Expense, and Prior Period Estimated Budgeted Expense rule type.
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If the performance fee uses a performance fee rule where you set the Fee Approval option to Autoapprove, the system assigns an Active status to the performance fee and can post the fee when you run the global expense accrual process. If the performance fee uses a performance fee rule where you set the Fee Approval option to Manual, you must review and approve the performance fee before the system can post the performance fee when you run the global expense accrual process. In this case, the system assigns a Pending status to the performance fee to allow you to review and Approve the calculated performance fee.
WRITERS NOTE: where does the fee start/end date range come from?