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Billing New Clients in Advance Immediately

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Morningstar OfficeSM Cloud has added ability to bill new clients immediately, when billing new clients in advance. (This capability is not available when billing End of Term).

To bill new clients immediately, new accounts must be added during the billing cycle you are billing in, and a management fee set to billing in advance must be assigned to the new account or accounts.

Note: Click here for detailed instructions on completing a billing cycle in Morningstar Office Cloud. 

After assigning a billing in advance management fee to accounts held by your new client, complete the following steps:

  • Assign a Billing Start Date to each new account for which you want to bill, and

    Billing Start Date.jpg
  • Select Bill Immediately on New Account within the Calculate Fees window.

    Billing immediately in Advance toggle.jpg