ACCOUNTING PACKAGE/SOFTWARE Definition

ACCOUNTING PACKAGE/SOFTWARE, usually, is a commercially available software program or suite that, with little customization, will satisfy the accounting system needs of the purchasing entity.

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ACCOUNT DISTRIBUTION is the process by which debits and credits are identified to the correct accounts.

MANAGEMENT EXPENSE is the management fee deducted from a funds average net assets to pay an advisor or sub-advisor. This fee is normally on a sliding scale. As the net assets of the fund increase, the percentage deducted for management fees decreases. A fund can also have a fixed rate or flat fee to compensate the advisor.

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