WRITERS NOTE: please explain exactly what is a fee rule and what in system creates it? These examples have fee rules with a fee type of Budgeted and Variable. Does Accrual Process create fee rule records? Where do you view them? Do we need to provide more info about what occurs when you run expense accruals and records and record statuses?
We haven't documented Prospective and it's mentioned here. Where is that found?
This example describes the expected workflow of a performance fee that has a rule type of Current Period Variable Expense.
...
| July True-Up Fee Rule Created to Apply in August | |
|---|---|
| Expense Account Name | Performance Fees |
| Fee Rule Type | Performance Current Period Variable |
| Fee Type | Budgeted |
| Activity Type | True-up |
| Accrual Begin Date | August 1 |
| Accrual End Date | August 1 |
| Fee Amount | $0.00 |
| Status | Pending |
| Accrual Calculation Frequency | Daily |
| Accrual Update Option | None |
| Accrual Reset Frequency | None |
| Calendar/Business Days | Calendar |
...
Step 7. Input Returns for July 31
...