What is the Money Balances on the Billing Summary report?

Q.On the  Billing Summary Report, does the Money Balances column display the cash balance in the account that the billing account — that is the account the fee is taken from?

A.Good question, I had to go double check to make sure.

Unfortunately, the money balances has nothing to do with the billing account — unless the billing account is the same as the account number.

Instead, the Money Balances column is the total in all money markets of the account listed in the “Account Number” column.  If the account listed is a group, then the money balance is the total cash of all accounts in the group.

For example:
[table]

Portfolio Description	Account Number	Account Type	Fee Amount	Billing Account	Money Balances
Banner, Bruce	100-123456	IRA Rollover	41.00	100-123456	26.05
Banner, Bruce	100-234567	Taxable	2,394.00	100-234567	57,703.64
Howlett, James “Logan”	G1011	All Accounts	5,498.00	501-234567	75,176.42

[/table]

The two Bruce Banner listings are individual accounts.  The money balance listed is the total cash in the account listed in the Account Number column.

The James “Logan” Howlett listing is a group.  The money balance listed is the total of all the cash held by the group.

The Money Balances column is most useful when you allocate your fees to every account in the group.

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