At the beginning of each calculation period, performance fees need to calculate performance fee activity. When you calculate performance fee activity for a performance fee, the system calculates the actual prior period performance fee and determines the days that the system uses to spread or budget the calculated fee over the next calculation period.
When you set up the performance fee rule, you specify whether the performance fees additionally require review and manual approval of this performance fee activity before you can use the global expense processing to post the performance fee. If they do, you must approve the performance fee activity. For current period performance fees, you do not use the approval process before posting performance fees. However, you can review the calculated performance fee before the system posts it.
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