Blueleaf Billing: Running Your Fees

This article covers the entire process of readying and submitting your fees each cycle. Follow the steps below or check out the webinar at the end for a walkthrough!

Step 1: Syncing Your Clients, Accounts, and Asset Values

First, we need to sync BillFin with your current Blueleaf setup. Skip this step if submitting your fees at the regular interval for your firm (monthly or quarterly) as we run this for you. However, should you submit fees mid cycle, you'll need to do this.

This process is covered in this article: https://support.blueleaf.com/article/11-blueleaf-billing-syncing-with-your-blueleaf-dashboard

Step 2: Resolve Outstanding Red Flags

Next, you'll need to resolve any red flags associated with your clients. These are notifications that alert you to what needs doing on any particular client before a payment file can be generated. They include things like needing fee schedules, setting billing start dates, and other logistical requirements.

We have an article that covers every possible red flag and how to resolve them here: https://support.blueleaf.com/article/60-blueleaf-billing-guide-to-resolving-red-flags

Step 3: Export and Distribute Your Invoices (Optional)

Invoices can be sent to clients either by exporting them as PDFs or uploading them to their document vaults. This is not required to submit your fees, but is typically a compliance/regulatory need for firms.

You can refer to this article: https://support.blueleaf.com/article/18-blueleaf-billing-customizing-and-downloading-client-invoices on how to customize, export, and submit your invoices!

Step 4: Ensure Sufficient Funds are Available (Optional)

Prior to exporting your payment files, you can check to make sure there is an appropriate amount of funds available in each account you're drawing from. Like Invoices, this is optional, however, it can help avoid overdrafts. Navigate to the Payments tab, then click Check Funds.

Accounts with insufficient funds will be highlighted in red. Make sure to generate funds in those accounts before submitting your payment file(s).

Step 5: Download and Submit Your Payment Files

Lastly, it's time to export files for each custodian you'll be submitting fees to. Follow the steps here to do so: https://support.blueleaf.com/article/28-blueleaf-billing-downloading-a-csv-file-for-your-custodian

Note: you will repeat this process for each custodian you submit fees to.

From there, just upload the files to the appropriate custodian's platform and you're done! If you'd like to see this in action, check out the webinar linked below where our Success team covers this process in detail. As always, you can reach out to us at vipsupport@blueleaf.com with any questions!