Approve Performance Fees

In the Approve Performance Fee panel, you can review and approve 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. 

To approve a performance fee: 

1. In Accounting Center, in the left navigation pane, click Transactions > Expense > Performance Fees > Approve Performance Fee.
   You see the Approve Performance Fee 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 review and approve 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 Expense Account Name box, select the name of the expense account for which you want to approve activity.
   Otherwise, leave the field blank to process activity for all expense accounts. For example, PERFORMANCE FEES.
5. In the Expense Start Date box and the Expense End Date box, specify the date range for the performance fee activity you want to review. 
6. Click Submit. 
   The panel displays the performance fee activity and associated calculation output data that meets your criteria.

??????

????'

When you approve a performance fee, the system changes the fee rule from Pending status to Active status. 

WRITERS NOTE: The panel says only Expense Account is required, but it won't display a value. 

WhAT HAPPENS AFTER YOU CLICK SUBMIT. not sure about changable values for various types of fees