Fees

A fee arrangement describes what should be charged. A saved fee calculation records what was calculated for a period and who bears it. Accounting records the financial effect. Review all three before treating a fee as complete.

Follow a management fee

The amount charged depends on the eligible base, effective rate, time period and applicable exceptions. The Fee Schedule identifies the arrangement. Its Fee Terms specify the applicable base, rate and dates, with subscription-specific exceptions or overrides where configured. A rate on a schedule is not enough to establish the charge for every subscription.

A Fee Batch organizes period work. A Fee Run stores calculated results for a fee schedule, entity/class scope and period within the batch. Fee Run Lines identify the components, such as a management fee, offset, rebate, carry or incentive fee, and store each recipient's calculated amount, term and breakdown. One run can contain more than one component; review the lines to identify their accounting paths.

Here, a line's recipient is the subscription or capital account receiving the calculated charge or adjustment. It is not automatically the manager or bank account that will receive payment. Check recipient type and ID.

For example, a hypothetical 1% annual management fee on a USD100,000 eligible base gives a simple USD1,000 charge for a full year without other adjustments. The schedule and effective terms establish the basis; the run and recipient lines show how the period charge was actually calculated and assigned. An actual calculation must also respect day count, dates, base and exceptions.

Review the saved calculation

Open Fees & Capital Allocations. In Fee Calculation, inspect the existing run, effective term, base, applied rate, period, currency, breakdown and line totals. In Fee Recipients, inspect the subscriptions or capital accounts affected.

These tabs inspect saved results. They do not themselves execute a calculation. Use the separately configured calculation and finalization process when authorized, then return to inspect its actual outputs.

Check the accounting once

A fee charged through profit and loss reduces the result subsequently allocated to investor capital. A direct-capital fee instead charges the relevant capital account directly. Verify the chosen treatment rather than applying both to the same fee.

For the hypothetical USD1,000 charge, if net allocated profit already includes that USD1,000 cost, subtracting another USD1,000 direct fee would charge it twice. Fund journals and investor records may both be needed; their linked treatment should represent one economic charge.

Use Fee Posting to inspect required journals and capital-account transactions. A finalized run is a calculation state, not proof that a related journal is Posted or that cash has been paid.

If terms or recipients are wrong, investigate the owning record and authorized recalculation/correction process. If calculation is right but accounting is missing, investigate posting. Continue to Accounting Review & Close for the fee stage of period review.