BillFin, Product Support

Prorating a New Client Mid-Period: BillFin Support

Expert Advice by BillFin Experts

July 29, 2020 |

If your firms bills in advance (forward) and has a new client join mid-period, chances are you need a way to prorate that client’s fees. Using our On-Demand Billing, known as “Bill Now” in BillFin, you can tackle what you’re looking for with a few clicks.

This “Bill Now” feature is on our Clients page. Here you can select the billing period, days to prorate, and then sync (automated) or manually enter market values. Fellow BillFin experts report their favorite part is the instant preview of the client’s fee and invoice preview. It’s important to remember this feature is only available for new clients/households only.

*To prorate fees for a new account in a previously billed or pre-existing client/household, see our other KnowledgeBase article in our support portal.

The direct steps to follow:

  1. Go to the Clients page
  2. Click on “Bill Now” at the top of the Clients page
  3. A popup window will appear
  4. Start typing the name of the client you want to bill
  5. Select the client you want to bill (if the client does not appear as an option to select, make sure they have not been billed before)
  6. Click OK in the popup window
  7. A slideout window will appear
  8. In the slideout window, select the period in which you first want to bill the customer
  9. Click on “no proration” next to the calendar icon for the account needing a Start Billing Date
  10. Select the desired date
  11. Click on “Sync Assets” to bring in asset values
  12. Enter asset values manually if needed by clicking on the pencil and then on “Edit Billable Assets”
  13. Click OK

And you’re done! As always, find these steps in our support portal here.