Suppose you want the footer on your standard billing to read: No payment necessary. The advisory fee(s) reflected on this notice will be automatically withdrawn from your account per your Advisory Agreement.
For the clients who pay by check, you want the footer to read: Due on Receipt. Please make your check payable to Acme Money Management, Inc.
Here’s what you’ll need to do:
- In PortfolioCenter, create a Smart Set of clients who pay by check and a Smart Set of clients whose fees are deducted.
In Presentation Studio:
- Edit the Billing Disclaimer Text to your standard language about “no payment necessary.”
- Create a new text field called something like “External Fee Footer” and enter the “Due on Receipt” language.
- Create a two identical Presentations with your quarterly report package including the billing statement.
- Rename Presentation 1 something like “Quarter Reports Deduct Fees” and assign the Billing Disclaimer Text to the billing statement.
- Rename Presentation 2 something like “Quarter Reports External Fees” and assign the “External Fee Footer” to the billing statement.
- Create a batch job to run Presentation 1 on your Smart Set of clients whose fees are deducted.
- Create a batch job to run Presentation 2 on your Smart Set of clients who pay by check.
To assemble your quarter reports, you’ll need to run both batch jobs.