When electing to bill on Average Daily Values at the firm or client level, BillFin will take the average of the daily values received by your custodian to find the account's billable value. That value is then used to calculate a fee based on your client/account rules and fee schedule setup in BillFin.

Understanding Values Sent to BillFin:

1. Most Custodians do not send values when markets are closed which means that they normally provide positions for around 65 days a quarter.
   
2. Some Custodians may not include a value if there is $0 in the account
   
3. All Custodians do not provide values for accounts prior to being opened or days after an account is closed. You will need to utilize the inception and termination functions in BillFin to handle these.
   
1. Inception Billing (Billing a New Account for a Partial Opening Period Fee)
   
2. How to Terminate/Close Accounts

How to Confirm Average Daily Values in BillFin:

1. Navigate to the Fees page
2. Sync asset values if you have not already
3. Hover over the pencil next to the client and click “View Asset Values”
4. Click “View in Excel” in the slide out window
5. Open the spreadsheet to view all the daily positions provided by your custodian in that billing period for that client's accounts.
6. If you sum the positions for each account on each day, and then average those sums, you should match BillFin's "Billable Assets" value.
1. A pivot table is useful for getting the sums and then averaging