Commission Accounts

Commission

Enter the Commission account for the External Party to be paid. If left blank, the External Party cannot be paid a commission.

This option can only be set for Dealers and Brokers.

Recovery

Enter the Recovery account for the External Party to be paid. If this is left blank then the Commission account will be used.

Terms

Enter values in the fields. These will default the Date due on the Disbursements page. Some examples are:

Terms 0 and Days 15 will display 16/09/2020 (Opening Date 01/09/2020).
Terms 1 and Days 0 will display 30/09/2020 (Opening Date 01/09/2020),

Pay to matching Entity Account?

Tick to pay Commissions only to an Account that matches the Entity of the related Account. When ticked the transaction created for the Commission will be assigned to the Account as follows:

If the Account selected belongs to the correct Entity it will be used. Otherwise, all other 'Open' Accounts where the External Party is the main/ first Client and of the same Account Type are examined and the first one found (in code order) that belongs to the Entity (via the Branch) is used.
If no Account exists that matches the above condition, the Transaction will not be created.

Rules

Use this grid to Add or Maintain rules to control when certain things are done relating to Commissions on an Account.
For example, a Rule to charge 10% Commission on Insurance cover.

Column	Description
Account Types	Details range of Account Types this commission relates too.
Always Pay	If ticked, the Commission will always be paid.
Basis	Shows Commission Basis and Rate.
Description	The description of the Element.
Element	The account element commission will be paid on, e.g., Insurance, Interest.
Key	Details of the Key to identify the Rule.
Promotions	Details of specified Promotions.

Button Strip

Icon	Definition
	Add a new Commission Rule
	Delete selected row
	Duplicate the current row
	Move the current row up (Ctrl+Up)
	Move the current row down (Ctrl+Down)