Pro-rated mid-quarter deposit into account

[Chandeleur]

Mark,
I have a client who deposited some cash into his existing IRA on 10/25/13. How can I invoice him for only this deposit for the remainder of the quarter?
Bryan

[Mark]

Hi Bryan,

I didn't follow the whole situation... If you want to calculate the management fee based off a daily average value, that is one of the choices in the management fee method section. If you want to do something that isn't covered by any of the management fee choices you can create a new fee method, and give it a fixed value, where you calculate this fixed value independently. You can change the method after this quarter.

[Chandeleur]

Mark,
I already billed him for $450,000 that he started the current quarter with. He deposited an additional $150,000 on 10/25/13. I need to only bill him for the additional $150,000 for the remainder of the quarter. Does that help?
Bryan

[Mark]

Hi Bryan,

So, you bill in advance of the quarter? There is nothing in the management fee calculations designed to only bill on a single contribution. They are based on overall valuations/performance for the period. You may need to create a new fee method, and just use the "Fixed" charge and enter the amount you want billed on just this additional contribution.

[Chandeleur]

Mark,
Yes. I bill in advance of the quarter. OK. I like your suggestion.
Thanks,
Bryan