Q.On the  Billing Summary Report, does the Money Balances column display the cash balance in the account that the billing account — that is the account the fee is taken from?

A.Good question, I had to go double check to make sure.

Unfortunately, the money balances has nothing to do with the billing account — unless the billing account is the same as the account number.

Instead, the Money Balances column is the total in all money markets of the account listed in the “Account Number” column.  If the account listed is a group, then the money balance is the total cash of all accounts in the group.

For example:

Portfolio Description Account Number Account Type Fee Amount Billing Account Money Balances
Banner, Bruce 100-123456 IRA Rollover 41.00 100-123456 26.05
Banner, Bruce 100-234567 Taxable 2,394.00 100-234567 57,703.64
Howlett, James “Logan” G1011 All Accounts  5,498.00 501-234567 75,176.42

The two Bruce Banner listings are individual accounts.  The money balance listed is the total cash in the account listed in the Account Number column.

The James “Logan” Howlett listing is a group.  The money balance listed is the total of all the cash held by the group.

The Money Balances column is most useful when you allocate your fees to every account in the group.

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