Capability template for finance and accounting
Household fee check
On the fee review date, the billing owner gets a fee check by account and household that applies the firm's own agreed schedules and approved waivers to the valuation files, with draft invoice lines, differences against custodian debits and every doubtful account kept apart for review.
Add it to a workflow in the Fully Powered Planner, beside the teams and roles that will run it. Book a fit call
The outcome
The billing owner opens the fee run with the arithmetic already laid out. Each account that can be calculated has a draft invoice line with its value, its schedule, any waiver applied and the fee that results. Next to each line sits the amount the custodian actually debited and the difference.
The accounts that cannot be calculated safely are not guessed at. A fee that depends on an unclear proration, a valuation that is out of date, a negotiated rate nobody approved, or an account that has closed goes to a separate list, with the facts known and a question for a named person. The billing owner confirms the rules and the exceptions. An authorized approver decides on any charge or credit. The template debits, invoices and credits nothing.
Who starts the work, and when
The billing owner starts it on the fee review date, once the period-end valuation files and the custodian debit records are in hand. The approver reviews the result before any invoice is released or any credit is raised.
What they supply
- The valuation files for the fee period, one value and one date per account.
- The household links: which accounts belong to which household.
- The firm's agreed fee schedules and the fee terms that say which household or account uses which schedule.
- The approved waivers and discounts, with who approved each and when.
- The account open and close dates.
- The custodian debit records for the fee period.
- A short settings note: the period, the debit window, the proration rule and the tolerance.
What comes out
One fee check in a fixed order: the settings used, draft invoice lines by household and account, differences against custodian debits, the review list, a tie-out of the totals and the decisions that belong to the billing owner and the approver. If a file does not have the headers the template expects, it stops and asks, rather than guessing which column is which.
An invented example
Illustrative example with invented data. The firm, the households, the accounts, the approvers, every rate and every figure below are invented. The firm is an invented advisory business, Advisory Firm A. Its billing owner runs the fee check for the third quarter of 2026 on 6 October 2026, and an approver, Approver A, releases any charge or credit. Households and accounts are referred to by letter and code.
The inputs come first, in full, so the template can be run on them. The fee check follows.
The inputs
1. Settings (typed by the billing owner)
Firm: Advisory Firm A
Fee review date: 2026-10-06
Fee period: 2026-07-01 to 2026-09-30 (92 days)
Currency: USD
Debit window: 2026-10-01 to 2026-10-05
Stale valuation limit: 5 days before period end
Proration rule: none
Tolerance: 0.00
Billing owner: Billing owner A
Approver: Approver A
2. Valuation file
account_id,valuation_date,market_value,currency
A-101,2026-09-30,640000.00,USD
A-102,2026-09-30,410000.00,USD
A-103,2026-09-30,150100.00,USD
B-201,2026-09-30,820000.00,USD
B-202,2026-09-30,95000.00,USD
C-301,2026-09-18,300000.00,USD
D-401,2026-09-30,500000.00,USD
E-502,2026-09-30,260000.00,USD
F-601,2026-09-30,410000.00,USD
3. Household links
household_id,household_name,account_id
H-1,Household A,A-101
H-1,Household A,A-102
H-1,Household A,A-103
H-2,Household B,B-201
H-2,Household B,B-202
H-3,Household C,C-301
H-4,Household D,D-401
H-5,Household E,E-501
H-5,Household E,E-502
H-6,Household F,F-601
4. Fee terms
household_id,schedule_id,basis,periods_per_year,effective_from,effective_to
H-1,S-1,household,4,2024-01-01,
H-2,S-3,account,4,2023-01-01,
H-3,S-2,account,4,2022-01-01,
H-4,S-2,account,4,2026-08-15,
H-5,S-2,account,4,2022-01-01,
H-6,S-2,account,4,2023-01-01,
5. Fee schedules
schedule_id,tier_floor,tier_ceiling,annual_rate_pct
S-1,0,1000000,1.00
S-1,1000000,,0.80
S-2,0,,0.90
S-3,0,500000,1.20
S-3,500000,,0.90
6. Waivers and discounts
waiver_id,household_id,account_id,type,value,valid_from,valid_to,approved_by,approved_on
W-1,H-2,B-202,waive,,2025-01-01,,Approver A,2025-01-10
W-2,H-6,F-601,rate_override_pct,0.75,2026-07-01,,,
W-3,H-1,,discount_pct,10,2025-01-01,2025-12-31,Approver A,2024-12-18
7. Account dates
account_id,open_date,close_date
A-101,2019-03-04,
A-102,2021-06-14,
A-103,2023-02-20,
B-201,2020-01-09,
B-202,2022-05-16,
C-301,2018-11-02,
D-401,2026-08-15,
E-501,2017-04-03,2026-08-20
E-502,2024-09-12,
F-601,2021-10-25,
8. Custodian debits
debit_id,account_id,debit_date,amount,currency
D-1,A-101,2026-10-01,1546.64,USD
D-2,A-102,2026-10-01,990.28,USD
D-3,A-103,2026-10-01,362.74,USD
D-4,B-201,2026-10-01,2220.00,USD
D-5,B-202,2026-10-01,285.00,USD
D-6,C-301,2026-10-02,675.00,USD
D-7,D-401,2026-10-02,1125.00,USD
D-8,E-501,2026-10-02,640.00,USD
D-9,E-502,2026-10-02,585.00,USD
D-10,F-601,2026-10-02,768.75,USD
D-11,Z-999,2026-10-02,50.00,USD
D-0,A-101,2026-07-03,2800.00,USD
The fee check
FEE CHECK: Advisory Firm A, fee period 2026-07-01 to 2026-09-30
Fee review date 2026-10-06. Debits compared: 2026-10-01 to 2026-10-05. Prepared for Billing owner A; approver Approver A.
Status: DRAFT. Not ready to release: 4 accounts held for review, 2 differences over tolerance and 1 debit on an unlisted account.
Inputs not supplied: none.
1. SETTINGS USED
Currency USD. Period 92 days. Stale valuation limit 5 days, so a valuation dated before 2026-09-25 is stale. Proration rule: none. Tolerance 0.00. Rounding: to the cent, half up.
Accounts: 10 linked to a household; 9 valued; 6 with a draft line; 4 held for review; 0 excluded (closed before the period).
Debits: 11 inside the window; 1 outside it (D-0, A-101, 2026-07-03, 2,800.00), not compared.
Waivers not applied because they were not in force on 2026-09-30: W-2 (Household F, rate_override_pct, unknown type, no approver or approval date); W-3 (Household A, 10 percent discount, ended 2025-12-31).
2. DRAFT INVOICE LINES
Household A (H-1), schedule S-1, basis household, 4 periods a year.
Household value 1,200,100.00. Fee: (1,000,000.00 at 1.00% + 200,100.00 at 0.80%) / 4 = 2,900.20.
Line 1: A-101, value 640,000.00 on 2026-09-30; share of fee 1,546.64; waiver none; draft fee 1,546.64.
Line 2: A-102, value 410,000.00 on 2026-09-30; share of fee 990.82; waiver none; draft fee 990.82.
Line 3: A-103, value 150,100.00 on 2026-09-30; share of fee 362.74; waiver none; draft fee 362.74.
Household total 2,900.20.
Household B (H-2), schedule S-3, basis account, 4 periods a year.
Line 4: B-201, value 820,000.00 on 2026-09-30; fee before waiver (500,000.00 at 1.20% + 320,000.00 at 0.90%) / 4 = 2,220.00; waiver none; draft fee 2,220.00.
Line 5: B-202, value 95,000.00 on 2026-09-30; fee before waiver (95,000.00 at 1.20%) / 4 = 285.00; waiver W-1 (waive, approved by Approver A on 2025-01-10) -285.00; draft fee 0.00.
Household total 2,220.00.
Household E (H-5), schedule S-2, basis account, 4 periods a year.
Line 6: E-502, value 260,000.00 on 2026-09-30; fee before waiver (260,000.00 at 0.90%) / 4 = 585.00; waiver none; draft fee 585.00.
Household total for drafted lines 585.00. E-501 is held (review item 1).
Draft invoice lines: 6. Total 5,705.20. Waived: 285.00.
3. DIFFERENCES AGAINST CUSTODIAN DEBITS
Difference is the debit minus the draft fee.
- A-101: draft 1,546.64; debit 1,546.64 (D-1); difference 0.00. Matches.
- A-102: draft 990.82; debit 990.28 (D-2); difference -0.54. Debit is lower than the draft.
- A-103: draft 362.74; debit 362.74 (D-3); difference 0.00. Matches.
- B-201: draft 2,220.00; debit 2,220.00 (D-4); difference 0.00. Matches.
- B-202: draft 0.00; debit 285.00 (D-5); difference 285.00. Debit is higher than the draft; it equals the fee before the waiver.
- E-502: draft 585.00; debit 585.00 (D-9); difference 0.00. Matches.
Held accounts, debit recorded and no draft figure to compare: C-301 675.00 (D-6); D-401 1,125.00 (D-7); E-501 640.00 (D-8); F-601 768.75 (D-10).
Debit on an account in no household link: Z-999 50.00 (D-11).
Accounts with a draft line and no debit in the window: none.
4. FOR REVIEW
Review 1. Closed account: E-501 (Household E). Closed 2026-08-20, so it was open for part of the period. No valuation is in the valuation file, so no fee can be worked out. The custodian debited 640.00 (D-8) on 2026-10-02. Question for Billing owner A: was a final fee due for 2026-07-01 to 2026-08-20, and on what value? Approver A decides any charge or credit.
Review 2. Unclear proration: D-401 (Household D). Opened 2026-08-15, which is 47 of the period's 92 days, and the proration rule is none. Reference only, not a draft line: a full-period fee would be (500,000.00 at 0.90%) / 4 = 1,125.00, and the custodian debited 1,125.00 (D-7). Question for Billing owner A: which proration rule applies to an account opened inside the period? Approver A decides any credit.
Review 3. Stale valuation: C-301 (Household C). Valued 2026-09-18, which is 12 days before period end, beyond the 5-day limit. Reference only, not a draft line: at the supplied value the fee would be (300,000.00 at 0.90%) / 4 = 675.00, and the custodian debited 675.00 (D-6). Question for Billing owner A: is a period-end valuation available for C-301, or is the 2026-09-18 value to be used? Approver A decides any charge or credit.
Review 4. Negotiated override: F-601 (Household F). W-2 asks for 0.75, read as an annual rate in percent because its type is unknown, and has no approver and no approval date, so it is not applied. Reference only, not a draft line: at schedule S-2 the fee would be (410,000.00 at 0.90%) / 4 = 922.50; at 0.75 percent it would be 768.75, and the custodian debited 768.75 (D-10). Question for Billing owner A: was the override approved, and by whom? Approver A decides whether it is approved and whether any charge or credit follows.
Differences over tolerance on drafted lines: 2 (A-102 and B-202, section 3).
5. TIE-OUT
Debits inside the window: 9,248.41 = 5,989.66 on accounts with draft lines + 3,208.75 on held accounts + 50.00 on an unlisted account.
Draft fees on drafted lines 5,705.20; debits on the same accounts 5,989.66; net difference 284.46 = -0.54 + 285.00.
Accounts: 6 with draft lines + 4 held + 0 excluded = 10 linked to a household.
6. DECISIONS
For Billing owner A: confirm the rules used in section 1; answer the questions in review items 1 to 4; say whose account Z-999 is (the debit D-11 in section 3); confirm that A-102 and B-202 are real differences.
For Approver A: decide whether any charge or credit follows from the held accounts and from the two differences. Nothing has been debited, invoiced or credited.
Every figure traces to the files supplied. Nothing is debited, invoiced or credited.
Where it fits
- Finance and investment, where advisory and investment firms bill on the value of the accounts they manage.
- Finance and accounting, which owns the invoice run and the reconciliation to what the custodian collected.
- Established businesses, where fee terms have accumulated over years of client conversations.
- Growth & scaling, when the client list outgrows a fee run done by eye.
It sits beside Client billing summary, which explains an invoice built from billed time, and Subscription billing exception sheet, which checks plans and seats. This one is for fees charged as a share of account value.
What has to change for your company
Settle your own rules before the first run: how often you bill, whether a fee is worked out on the household or on each account, how long a valuation may be before it counts as out of date, and what you do when an account opens or closes in the middle of a period. Fix your tolerance for small differences. Decide who may approve a waiver, and who releases a charge or a credit. The template follows your schedules and waivers; it does not set them, and it takes no tax or regulatory position.
What has been checked
Fully Powered AI wrote this capability template. It was editorially reviewed on 10 November 2026. It was tried once on its invented example, in Claude on 10 November 2026, and the record is published with it. It has not been tested in a client environment or as a packaged version in ChatGPT, Claude, Copilot or Gemini.
Testing in your firm means running it on a past period whose fees you already know, plus hard cases written in advance: a household that spans a tier boundary, a waiver that ended last year, an account that closed mid-period, a debit on an account nobody listed. The billing owner checks every figure against the valuation files before anyone relies on it. Pilot acceptance-test preparation sets those cases up.
The full capability template
Everything above is the outline. The complete capability template is the working version: the roles, the inputs, the procedure, the exceptions and stop conditions, the output format, the reviewer checklist, the acceptance tests, the instructions for an AI assistant and what to customize for your company. It comes with a download and the link to its folder in Fully Powered’s public repository.
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