Calculate Performance Fee Activity

In the Calculate Performance Fee Activity panel, you can calculate the performance fee amount for performance fees for an entity. At the beginning of each calculation period, 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.

When the system calculates performance fee activity, it calculates the actual prior period performance fee and determines the days that it uses to spread or budget the calculated fee over the next calculation period. 

To calculate performance fee activity for a performance fee: 

1. In Accounting Center, in the left navigation pane, click Transactions > Expense > Performance Fees > Calculate Performance Fee Activity.
   You see the Calculate Performance Fee Activity panel.
2. In the Entity ID or the Entity Name field, select the entity identifier or entity name of the fund for which you want to calculate activity.
   The panel displays the corresponding entity value, along with the entity's primary accounting basis.
3. In the Acctg Basis field, select the accounting basis for which you want to view activity.
   Otherwise, you can leave the field blank.
4. In the Fee Status list, click a fee status if you want to process activity for a single status; otherwise, leave the field blank.
   Options include:
   - Pending.
   - Closed.
   - Active.
   - All.
   - Active & Pending. Default. 
5. In the Expense Account Name box, select the name of the expense account for which you want to calculate activity.
   Otherwise, leave the field blank to process activity for all expense accounts. The Fee Start Date and Fee End Date fields display the start and end dates of the calculation period. 
6. In the Effective Date box, specify the effective date for the performance fee activity calculation. 
   The system calculates the performance fee activity that meets your criteria.

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?