This page lets you define the following settings for a Tenant;
Section to set the Invoice Messages settings
Section to set the Payment Messages settings (Yet to Implement)
Section to define the Offset Hierarchy settings
This section lets you set standard messages on the invoices. Any additional information that needs to be given in an Invoice can be defined using this feature.
The standard messages set here is set for the invoices of all the Billing Accounts of that Tenant.
To set the messages, click on the “Invoice” section under the “Tenant Settings” functionality.
Edits can be done for the following fields in the “Invoice” section under “Tenant Settings”.
Field Name |
Description |
---|---|
Standard Message 1, Standard Message 2, Standard Message 3 |
You can define up to three standard messages in the Standard Message 1, 2 and 3 fields. |
Note: The messages set at the Tenant level is used only when there are no standard messages defined at the Billing Account level. If there are standard messages defined at the Billing Account level, these will override the Tenant level standard messages.
The standard messages set here is set for the Payment Statements of all the Interested Parties under that Tenant.
To set the messages, click on the “Payment” section under the “Tenant Settings” section.
Edits can be done for the following fields in the “Payment” section under the “Tenant Settings”.
Field Name |
Description |
---|---|
Standard Message 1, Standard Message 2, Standard Message 3 |
You can define up to three standard messages in the Standard Message 1, 2 and 3 fields. |
Note: The messages set at the Tenant level is used only when there are no standard messages defined at the Payment Account level. If there are standard messages defined at the Payment Account level, these will override the Tenant level standard messages.
An Offset Hierarchy lets you define a hierarchy by which a Plan’s asset can be used to cover any expenses. This section lets you re-define the Plan Revenue and Forfeiture Offset Hierarchy at the Tenant level.
The Fee Offset Hierarchy can be defined and prioritized at four levels. Prioritization can be done by moving the options at each level up or down. Moving an option up gives it a higher priority to the one below. The options at each level can be prioritized. That is, the options in Level 1 can be prioritized as required and the same can be done with the options in Level 2, 3 and 4.
Level 1 - At this level you can prioritize the Offset Hierarchy at the Plan assets level. These assets are;
The various Revenue Account types,
The various Forfeiture Account types
The Pera Account
The Petty Cash Account
Level 2 - Here you prioritize the Offset Hierarchy for the three options under each of the Plan assets defined in level 1. These three options are;
Interested Party
Billing Method
Fee Type
Level 3 - These are options defined under the level 2 options than can again have the Offset Hierarchy prioritized at this level. The options here are;
Advisor, Third Party Admin, or Other.
Under the Billing Method - Invoiced or Plan Debit options.
defined in the system.
Level 4 - This level lets you define the Fee Types applicable for the level 3 options under the Interested Parties and the Billing Methods.
Note: If Level 4 is not updated for any one of the Level 1 options, the Fee Offset Hierarchy for that group will remain inactive. (For example, if under, Fund Forfeiture, the Interested Party Type - Advisor has no Fee Types chosen though it’s been activated, the offset hierarchy will remain inactive for this group.)
The Fee Offset Hierarchy at the Tenant Level is defined as and when a new Tenant is created, and the Hierarchy can be edited later. The Offset settings defined at the Tenant Level can be used at the Plan level when the requirement arises. To know how, refer the section “Allocation Hierarchy” at the Plan level. The settings defined at the Tenant Level can be used at the Plan level too.
To define the Offset Hierarchy, click on the “Offset Hierarchy” section under the “Tenant Settings” section. Then click on the “Edit Fee Offset Hierarchy” button.
This brings up the “Fee Offset Hierarchy” popup window, that lets you define the Tenant Level Fee Offset Hierarchy settings.
The “Reset & Re-Create Hierarchy” button lets you edit the Tenant Level hierarchy settings. When you click on this button, you will be asked to confirm if you want to erase the existing hierarchy and create a new one. Click the “OK” button to continue.
The fees are offset based on the sort order and Fee Types defined at the four levels of Offsetting. To define the sort order, you can select and drag the options at the different levels, up or down.
To activate the fee offsetting at the different levels, click on the slider button at those levels and you can also selectively activate the options.
Note: Modifying the Offset Hierarchy does not affect the exiting Fees or their Transactions and Invoices but reflects in any newly created fees.