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    How do I set up an admin fee to charge 100 percent of the fund balance?
    • 04 Jun 2023
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    How do I set up an admin fee to charge 100 percent of the fund balance?

    • Updated on 04 Jun 2023
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    Article summary

    I need to set up an admin fee to charge the full fund balance so I can use it when calculating the lowest fee.  I keep getting the wrong calculation.

    Answer:
    To set up an admin fee to charge the full fund balance:
    1. Navigate to Funds > File Maintenance > Fund Code Maintenance : administrative fees
    2. Click New and enter a name for the code
    3. Choose the Frequency on the Main Options 
    4. On the asset radio enter something similar to this:

    • The Straight percentage would be 400 if this is a quarterly fee, 1200 if a monthly fee.
    • The 10000 thru 29999 represents your first asset account and your last liability.
    Typically the problems you encounter have to do with the percentage chosen.  It is important to remember that the straight percentage will be divided by the frequency.  So the Percentage of 1200 will divide by 12 if monthly and 4 if quarterly. 
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