How to Record Custodian Changeover Fees
Recording fees earned for managing the logistical and regulatory transition of assets between different custodial institutions.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Client Cash Account | Liability | 5,000.00 | - |
| Asset Transfer Service Income | Revenue | - | 5,000.00 |
💡 Accountant's Note
The bank or wealth manager charges a fee for the administrative work involved in re-registering and moving assets to a new custodian.
Practitioner & Systems Framework
💻 ERP Architecture
Map to 'Administrative Service Fees' in the general ledger.
⚠️ Audit Flags
Mismatch between transfer volume and transfer fee revenue.
📄 Required Documentation
Custodian transfer instructions and fee disclosure form signed by the client.
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Discussion & Community Questions
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