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Use Average Daily or Monthly Balance

This setting allows you to designate whether to use average daily or monthly balance when calculating the billable amount for a billing definition.

To use this setting, select the check box. Then choose from the list billing frequency:

• Daily. Instead of using the beginning or ending market value of a security to determine the rate schedule to apply, Tamarac Reporting will use the average daily value of the billing group.

  To take advantage of the average daily balance billing, you must bill in arrears.

  Prorations are not applicable when using average daily balance billing.

• Monthly. The day selected in the Billing Cycle On The setting will be the day each month used to compute the average monthly balance.

  For example, if the billing cycle is set to bill Quarterly on the 15th of March, June, September, and December, the average monthly balance for Q4 billing will be the average of the billable values on October 15, November 15, and December 15.

Learn More

For more information on billing groups, see Understanding Billing Groups.

For more information on billing definitions, see Understanding Billing Definitions.