As Financial-Planners, each year you are required to notify your clients of the revenue that you have made from your advice services which were either directly debited from a super account, from shares or debited using other means (excluding product commissions).
To facilitate the creation of the Fee Disclosure Statement, the File Action should be linked to Revenue and Entitlements of your Client. Revenue will simply have a lookup to the File Action, however the Entitlements will use a Joining Object called Performed Actions which will have a tickbox to say “Completed”, to indicate that Entitlement was delivered during this period of disclosure.
The lookup of the File Action on the Revenue will also help to keep track of all fees and make sure the relevant ones have been disclosed.
Since there is no acknowledgement required from your client on the issuing of the FDS, you can create the File Action with the status set to Completed to log the action taken.
You can use the FDS Wizard to help you create the File Action of type FDS.
If you are not utilising Service Contracts and Entitlements, you can remove them by following these instructions.