billPort has been evolving every year and new features are getting added to help advisors and RIA bill their clients fast and accurate. Although billPort’s forte is client billing, it also tracks the payments that you receive from your clients via checks.
It tracks all the check payments and automatically lets you know the pending payments and the current balances of all accounts and households.
billPort now offers you the feature called Partial Payments which will allow clients to pay the fees in installments.
Previously in billPort, payments were tracked as a one-time payment. As the checks are received for full payment, those get tracked under the payments. However, there are occasions where some clients choose to pay the fees in installments depending on their agreement with the firms. In such scenario the new feature called “Partial Payment” in billPort will be useful
billPort now allows to pay the fees in full or in installments across the quarter. The partial fees can be split by a dollar amount or by a percentage. After specifying the split type, billPort will calculate the amount to be paid.