Commissions

'Commissions' allow you to pay commissions to Brokers and Dealers.

Various calculation methods allow you to calculate and pay commissions in accordance with your business model.

Disbursements

'Disbursements' is the term used to refer to the distribution of the initial Loan amount that was Advanced.

Each element that makes up the Account Advance needs to be defined if it is to be Disbursed. The Disbursement of these Elements will then be recorded against the Account. The desired end result is that the full Account Advance is Disbursed leaving no variance. Throughout the disbursement process any variance will be clearly shown and it would be usual to hold any actual Disbursement payments until the variance is nil.

The initial Account Advance can be Disbursed in a number of ways and can be one or many of the following:

• Payments to the Client(s) for the Account. For example a Personal Loan where the Account Advance is paid directly to the Client.
• Payments to External Parties on behalf of the Client. For example a Client is borrowing money to purchase something or to consolidate debt with another Finance Company, the Disbursement payment would be paid directly to that Third Party.
• Payments to your own Dealers. For example the Client purchases goods on credit from one of your Dealers, the initial Account value would usually be promptly paid to your Dealer and you can calculate and pay Dealer Commissions later.

Processing Disbursements/Commissions

The Process for Disbursing an Account is as follows:

1. Add the New Account.
2. Default and record the disbursement/commission values. These will be a status of 'Pending' until the disbursement/commission is paid.
3. Check the disbursement balances to ensure that there is no variance.
4. Pay the funds to the Account's Client or to the External Parties.
• Small volumes can be paid per Account.
• Daily payment via menu option, Transaction, Approve Disbursements and Disbursement Account Payments.

Pages

• Setting up a New Commission - External Parties, Options.
• Setting up a New Disbursement - Disbursements, New Company Wizard.
• Disbursements from an Account - Account Disbursements.
• Payee Disbursements - Accounts, Disbursement, Payee.
• Reversing a Disbursement - Disbursement Reverse.