Fees (form)

 New

 Creates a new record.

 Save

 Saves current record.

 Save and new

 Saves current record and resets the form to prepare a new record.

 Save and close

 Saves current record and closes the form.

 Close

 Closes the list or form being viewed.

 File > Page setup

 Opens a page setup dialogue box to set printing parameters.

 File > Print preview

 Opens a print preview box.

 File > Print

 Opens a dialogue box to select print options.

 File > Refresh

 Each time you refresh data, you see the most recent version of the information in the database, including  any changes that were just made to the data.

 Active

 Select this checkbox if the fee is to remain Active and in use.

 Fee

 The name of the fee.

 Fee code

 A unique code to identify the fee. It can be up to 15 characters long but it makes sense to keep this as  short and descriptive as possible.

 Fee category

 Fees can be categorized for ease of reporting and analysis. Allows you to put multiple fees into a group. The options available in this pick list are user  definable and can be set in the Settings module > Application configuration > Pick list choices >  FeeCategoryCode.

 For consolidation only?

 If this checkbox is checked, this "fee" will not appear when you select an activity for time entries. Only available when creating a new fee. Normally used in conjunction with the Parent fee functionality.

  For each child fee that you would like consolidated, double-click the fee and select the Parent Fee in the drop down menu.

  Invoices will display the child fees as a single line item.

 Transactional?

 Parent fee

 If this option is selected, instead of individual fees appearing on invoices, only the parent fee will appear.

 External fee

 External fees are paid by a client but to a third-party vendor. Internal fees are paid by the client directly to  the Master Institution.  

  If selected, the Vendor field will become enabled and required to be completed. 

 Government license fee

 Check this field if the fee is payable to a regulatory body e.g. Registrar of Companies or the local  government.

 Payable by

 Select whether this fee will always be paid by the client directly to the third-party vendor or by the Master  institution on behalf of the  client. The options available are (Not set), Client always pays this fee or, MI  always pays this fee. Leaving this field as (Not Set)  will allow you to choose at the time the fee is  charged.

 Vendor                                                                                                                           

 Choose a vendor to whom this fee will be paid. The options available in this pick list are all business  parties on the database with the allowable role of Vendor.

  This field is only available if the field labeled External fee has been checked.

 Business unit

 Type the name of the default business unit, or select it from the pick list. To add a business unit to the list, see Working with business units.

 Always post to this business unit

 Select this check box to restrict this fee so that it can only be used with the business unit specified in the field labeled Business unit.

  This field is only available if a business unit is selected.

 VAT code

 Select the VAT code that will determine the rate of tax relevant to this fee. This field is only available if you are tracking VAT. Tracking VAT can be set in the Settings module > Application configuration  > System properties > Track VAT.

  As of versions 2016.4.1.0 and up, if a VAT code is selected in this field, it will automatically calculate when making a payment with the Make payment form when the appropriate payment method is selected. Please note, the fee would need to be set to Transactional and a fee calculation would need to be set-up. 

 Risk rating

 Select the relevant level. E.g. low, medium, or high.   

  You may rename these fields according to your business requirements. You may also change the values in each field. The options available in this pick list are user definable and can be set in the Settings module > Lists > Application configuration > Pick list choices > FeeRiskRatingCode.

 Fee type

 The type of fee must be one of the following:

• Hourly
• Expense
• Ad valorem
• Authorized capital
• Authorized shares
• Past due

This selection will determine where this fee will be recorded, how it will be calculated and how the accounting entries will be posted.

 Billable?

 Select this checkbox if this fee can be billed to a client. The authorized staff will have the opportunity to waive or adjust fees when preparing invoices and entering time.

 Must be billed

 Select this checkbox if the fee must be billed. The authorized staff will not have the opportunity to waive  or adjust fees when preparing invoices and entering time.

 Cannot be billed

 Select this checkbox if the fee cannot be billed. The authorized staff will not have the opportunity to waive or adjust fees when preparing invoice. Fees with this checkbox selected will not be available when entering time.

 Charged per unit?

 Check this box if the fee will be charged per unit, for example, per number of copies made.

  This field is only available if the field labeled Fee type is set as Expense.

 Is recurring?

 Check this box if the fee will be charged periodically. Primacy will automatically calculate and prepare the fee based on the frequency and other parameters you specify per client.

 Bill in advance?

 Check this box if the fee will be billed in advance, for example, the client is paying for services not yet rendered. Primacy will post the fee amount to a deferred income account and recognize the appropriate portion of the income each month automatically.

  This field is only available when the field labeled Recurring is selected.

 Use user entered AUM

 Select this checkbox if the fee calculation is based on an AUM value entered manually. If unchecked, the AUM will be calculated based on the holdings and market values on the date that the fee is charged.

  This field is only available when the field labeled Fee type is set to Ad valorem.

 Use most recent AUM

 When this box is checked, the system will use the most recent AUM value even if it is not current.

  This field is only available when the field labeled Fee type is set to Ad valorem.

 Deferred income accounting

 Check this box if the income generated from the fee is to be deferred over a period of time.

  This field is only available when the field labeled Bill in advance? is checked.

 Penalty fee

 Default new charge as

 Select the default when entering a new charge. The options available are Billable and Not billable.  Entering a time record, for example which is Billable can be changed to Not billable. This field will  provide the default when the fee code is entered. It can be changed in the Time entry form.

 Tier type

 Select the type of calculation that will be used for the fee tiers specified. The options available in this pick list are Banded, fixed amount, Banded, variable rate, Stepped, fixed amount and Stepped, variable  rate.

• Band 1:  0 – 99,999.99,                $50.00 fee
• Band 2: 100,000.00 or more,        $100.00 fee

• Banded would charge $50.00
• Stepped would charge $50.00

• Banded would charge $100.00 (falls in 2^nd band)
• Stepped would charge $150.00 ($50.00 + $100.00)

 Minimum quantity

 The minimum quantity allowed if the fee is charged per unit or per hour.

 Maximum quantity

 The maximum quantity allowed if the fee is charged per unit or per hour.

 Standard quantity

 The default or standard quantity if the fee is charged per unit or per hour.

 Commissionable?

 Select this checkbox if commissions are to be paid to an agent.

 % eligible commission

 This field is only available if the checkbox labeled Commissionable? is selected. Enter the percentage of the fee amount that is to be paid to the agent.

 Business party type

 Select the types of clients that are subject to this fee. This allows you to only show, for example, fees applicable to a trust when entering fees for a trust client.

 Jurisdiction

 Select the jurisdiction that the fee applies to.

 Business party subtype

 Select the client sub type that is subject to this fee. This field is only available when a single Client type has been selected.

 Client structure

 Select the client structure that is subject to this fee. This field is only available when a single Client type has been selected.

 Client substructure

 Select the client sub-structure that is subject to this fee. This field is only available when a single Client type has been selected.

 Matter type

 Select the matter type that is subject to this fee. This field is only available if the system property Use matters is set to Yes. This system property can be set in the Settings module > Application  configuration > System properties > Use matters.

 Expense

 Select the general ledger account that the fee expense will be posted to on the client's books.

 Expense from capital

 For trusts with the field labeled Separate income and capital set as Yes. The general ledger account  entered in this field will be used in the posting routine and not the general ledger account in the field  labeled Expense.

 Expense from income

 For trusts with the field labeled Separate income and capital set as Yes. The general ledger account  entered in this field will be used in the posting routine and not the general ledger account in the field  labeled Expense.

 Payable

 Select the general ledger account that the fees payable to the Master Institution will be posted to. This  account is required for all internal fees.

 External payable

 Select the general ledger account that the fees payable to third-party vendors will be posted to on the  client's books. This account is required for all external/government fees.

 Income

 Select the general ledger account that the fee income will be posted to on the Master Institution's books.  This account is required for all fees not paid in advance.

 Deferred income

 Select the general ledger account that the fee income will be posted to on the Master Institution's books.  This account is required for all fees paid in advance.

 Receivable

 Select the general ledger account that the fees receivable will be posted to on the Master Institution's  books.

 External payable

 Select the general ledger account that the fees payable to third-party vendors will be posted to on the  master institutions books. This account is required for all external/government fees.

 Disbursement

 Invoice Group

 There are five invoice groups available in Primary. These groups are used to position fees on the invoice  template. For example all fees which relate to disbursements can be grouped together and positioned as  a group on the invoice.

 When entering charges?

 Select this check box to allow the user to edit the invoice description when entering a charge.

 When preparing client invoices?

 Select this check box to allow the user to edit the invoice description when preparing a client invoice.

 Description

 Enter the default Description which is to appear on the invoice for this fee.

 When entering charges?

 Select this check box to allow the user to edit the invoice narrative when entering a charge.

 When preparing client invoices?

 Select this check box to allow the user to edit the invoice narrative when preparing a client invoice.

 Narrative

 Enter the default narrative which will appear on the invoice for this fee.

 Client ID

 Internal identifier of the client.

 Client

 The client's name.

 Invoice

 Primary generated invoice numbers increase i  increments of 10.

 Frequency

 The Frequency of which the fee is invoiced.

 From

 The period start date of the fee transaction.

 Through

 The period end date of the fee transaction.

 CCY

 The currency of the item.

 Deferred

 The amount being deferred for the period. A fee with an annual charge of 1800 will show a deferred  amount of 1800.

 Recognized

 The amount of income recognized to date and posted.

 Balance

 The unrecognized fee amount for the year. This figure is a Primacy calculation and is the sum of the  deferred figure less the amount of income recognized. The figure represents the amount of income still  deferred and not yet recognized. 

 Next recognition date

 The date the next deferred payment is due according to the fields Invoice frequency and Starts on.

 Client type

 Select the types of clients that are subject to this fee. This allows you to only show, for example, fees  applicable to a trust when entering fees for a trust client.

 Client sub type

 Choose the client sub type that is subject to this fee. This field is only available when a single Client type   has been selected.

 Client structure

 Choose the client structure that is subject to this fee. This field is only available when a single Client  type has been selected.

 Client substructure

 Choose the client sub-structure that is subject to this fee. This field is only available when a single Client  type has been selected.

 Jurisdiction

 Select the jurisdiction in which this fee applies.

 Ccy

 The currency of the fee.

 Fee

 The fee description

 FeeID

 The Primacy identification number for the fee.

 Record ID

 Created by

 The user who created this record.

 Created on

 The date this record was created.

 Modified by

 The last user to modify the details of this record.

 Modified on

 The date this record was last modified.

 From business unit

 The business unit from which a percentage of the fee will be taken.

 From business unit ID

 The Primacy identification number of the from business unit.

 To business unit

 To business unit ID

 Rate (%)

 The amount of the fee, as a percentage.

 Fee sharing ID

 The current record's identification number.

 Created by

 The user who created this record.

 Created on

 The date this record was created.

 Modified by

 The last user to modify the details of this record.

 Modified on

 The date this record was last modified.

 Record ID

 The current record's identification number.

 Created by

 The user who created this record.

 Created on

 The date this record was created.

 Modified by

 The last user to modify the details of this record.

 Modified on

 The date this record was last modified.