The Management Fee Report section contains two system reports: Management Fee Report and Management Fee Report by Manager. The criteria screen contains a month selector (1) and a farm selector (2).
Management Fee Report
The management fee report shows the fees earned (Based on the management fee % set on the individual GL Accounts), fees paid (based on the Firm Fee Account on the Management tab under Farms), fees due (fees earned minus fees paid), and effective fee % for all selected farms through the selected month of the farm’s current fiscal year.
Management Fee Report by Manager
The management fee report by manager shows the fees earned, fees paid , fees due , and effective fee % for all selected farms through the selected month of the farm’s current fiscal year all grouped by manager.
The fees earned are calculated by gathering all transactions through the selected month for each GL account from the Edit Farms, Farms, Accounts, Chart of Accounts tab that has a management fee percentage, and multiplying that by the management fee percentage for the specific GL account. The fees paid amount is the total from the Client Expense GL account entered on the Edit Farms, Farms, Management tab. The fees due is then calculated by subtracting the fees paid from the fees earned. If the Effective Fee % column is left blank on the printed report, that farm had a minimum flat fee amount entered on the Edit Farms, Farms, Management Tab.