Although we cannot tell you what date you should use on the Administrative Fee Journal entries, we can give you some information about the usual practices of Foundations.  Not every foundation or organization follows the same rules, but these are how most foundations in our experience calculate the fees.
  • Typically administrative fees are calculated after the the investment accounts have been reconciled for the period.
  • Most foundations use some end of period balance as a basis for the calculations. 
  • When processing the fees, the last date of the period is used for the journal entry and the first day of the next period is used as the confirm date for the FACTS entry.
For example, if you are calculating fees for the quarter ending March 31st, the journal entries would typically be dated with March 31st and the confirm date for FACTS would be April 1st.