Missing Asset Values, Missing Fees, Missing Invoice
What do I do if I am missing an invoice, fee, or asset values?
We are often asked why a client is missing a fee and/or doesn’t have an invoice. BillFin will not calculate an incomplete fee for any client. Every account must have an asset value. Often, syncing asset values into BillFin will leave closed accounts and new/unfunded accounts missing asset values. Follow the steps below to resolve this alert (Account is Missing Asset Values).
If the account is new and unfunded
We recommend unassigning (leaving unassigned) accounts that are not funded. Once they are funded, you can assign them and ensure their setup is correct and you shouldn't get errors.
To Unassign the Account:
- Go to the Account Assignment page by clicking on the gear/setting icon in the top right and clicking on Account Assignment in the menu
- Click on the "Assigned" tab and find the account that is not yet funded
- Check the box and click the "Unassign" action button
If the Account is closed
We recommend terminating closed accounts so they don't produce this error every billing cycle.
To Terminate The Account:
- Go to the Clients page
- Click on View Client Details in the pencil menu for the client
- A slideout window will appear
- Click on the pencil next to the closed account in the Accounts section
A new slideout window will appear
- Click on Terminate in the green banner (do NOT delete the account)
- Click in the date field and enter a date (this date’s billing period will determine the last period in which the account will show up on the Fees page)
- Apply or Waive Fee
If account is open and has funds
Contact support if you think funds should be coming through the sync. Please double check date of funding. If after the first day of the current cycle, we would not expect values to be found. If you prefer not to contact support, you can manually insert an account's asset value by following the steps below.
Do not enter $0 valuation. We recommend unassigning the account instead to avoid missing potential inception adjustments. See inception adjustment article here. Adding a $0 valuation will usually produce a $0 fee for the account. If you add a start billing date later for that same account to get a prorated inception fee, the desired prorated inception fee will not calculate due to that $0 fee.
To Add a Billable Asset Manually:
- Go to the Fees page
- Make sure you are looking at the correct billing period
- Click on Edit Billable Assets in the pencil menu for the desired client
- A slideout window will appear
- Enter Market Values and Exclusions for all accounts (enter a zero for unfunded accounts)
- Click Save
*If an account has values and you change it, the positional data provided through the sync will be overwritten with the account value you enter. Once the client has a fee, you can click on the page icon between the flag and the pencil to preview the invoice.