In the Approve Performance Fee panel, you can review and approve Prior Period type performance fees calculated for an entity. You can approve a performance fee after you calculate performance fee activity for that fee and before you post the fee to accounting. The approval process is an optional part of the workflow for performance fees with a Prior Period Budgeted Expense or a Prior Period Estimated Budgeted Expense rule type. If the performance fee uses a performance rule type where you set the Fee Approval option to Manual, the performance fee requires approval in order for the system to post the fee when you run expense accruals.
When you review and approve a performance fee rule, you also can change the performance fee rate to adjust the calculated amount and can change the performance fee end date If you are approving a true-up rule for a Prior Period Estimated Budgeted Expense type performance fee, you can change only the performance fee end date. . When you approve the fee, the system changes its status from Pending to Active. This allows the system to post the fee when you run the global expense process.
To approve a performance fee:
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