PortfolioCenter 5.10 offers some nice new billing features. My favorite: You can now globally clean up the billing history!
I’ve been asking for this ability for a long time because it’s easy to get the billing history out of sync with the actual management fees.
Prior to PortfolioCenter 5.10 when a billing history problem occurred, our only recourse was to manually correct each account — one by one. Now we can globally handle any billing history clean up! I haven’t tested this lovely new feature yet — and I hope I don’t have to test it any time soon. While it’s rarely needed, when it is needed nothing else will do.
To find this feature, open PortfolioCenter, go to the Billing Tab, Tools, select Delete Billing History. Then simply fill in the prompts.
When you’re done, I’d recommend re-running the Global Billing Summary Report as a check to ensure you fixed the problem.