Difference between revisions of "Commission Builder"
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Newton's [[Commission Download]] is an invaluable tool for the modern agency. Some carriers, however, still do not offer downloadable statements. Commission Builder offers an easy way to create a batch of invoices for the our agents still receiving paper documents. | Newton's [[Commission Download]] is an invaluable tool for the modern agency. Some carriers, however, still do not offer downloadable statements. Commission Builder offers an easy way to create a batch of invoices for the our agents still receiving paper documents. | ||
Enter a batch of invoices from a single screen, instead of loading each client and policy individually, automatically calculating agency and producer commissions as you go. | Enter a batch of invoices from a single screen, instead of loading each client and policy individually, automatically calculating agency and producer commissions as you go. | ||
| − | ==== | + | ==== Frequently Asked Questions (FAQ) ==== |
| − | + | *[[Talk:Commission_Builder#How do I enter a commission statement without transaction types?|How do I enter a commission statement without transaction types?]] | |
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| − | |||
====Initial Statement Setup ==== | ====Initial Statement Setup ==== | ||
| − | #From the main Agency System's menu select ''' | + | #From the main Agency System's menu select '''Company -> Download ->Pending''' tab. |
#Right-click on a blank/white area of the screen, and select '''New Commission Builder'''. | #Right-click on a blank/white area of the screen, and select '''New Commission Builder'''. | ||
| − | #Put in the '''Company''' you received the money from | + | #Put in the '''Company''' you received the money from. |
| − | #'''Date''' the money was received | + | #'''Date''' the money was received. |
| − | #Add a '''Description''' | + | #Add a '''Description'''. |
#'''Check Number''' for check received from company. For companies that direct deposit the money use '''EFT.''' | #'''Check Number''' for check received from company. For companies that direct deposit the money use '''EFT.''' | ||
#Put in the total '''Premium''' the company is paying commissions on. | #Put in the total '''Premium''' the company is paying commissions on. | ||
| Line 53: | Line 50: | ||
#Type in the '''Policy''' number and select policy. | #Type in the '''Policy''' number and select policy. | ||
#To attach the invoice to a specific transaction, hit the '''Seqs''' button and select accordingly. | #To attach the invoice to a specific transaction, hit the '''Seqs''' button and select accordingly. | ||
| + | #:To insert an '''Audit''' into a prior policy term, select '''Seqs''', click to highlight a transaction from the '''prior policy term''', select OK. The transaction used for Audit (AUD) can now be entered. | ||
#If the transaction was not found a new sequence may be created, you can type in Transaction, and Policy Effect/Expiration dates for the new transaction. | #If the transaction was not found a new sequence may be created, you can type in Transaction, and Policy Effect/Expiration dates for the new transaction. | ||
| + | #:If REN is entered, the policy effective and expiration dates will automatically extend to a new policy term. The policy term should only have '''one''' renewal sequence per policy term. | ||
#Once you have completed all items for that policy you may select one of three options, “Save And Add Another,” “Save And Exit,” or “Don’t Save, Exit.” | #Once you have completed all items for that policy you may select one of three options, “Save And Add Another,” “Save And Exit,” or “Don’t Save, Exit.” | ||
#:[[File:CommissionBuilder2.png]] | #:[[File:CommissionBuilder2.png]] | ||
| − | # | + | #Select '''Save and Exit''' when finished adding lines. |
| + | #Select '''Show Errors...'''. | ||
| + | #Clear any remaining [[Direct Bill: Commission Notes and Errors|Commission Notes and Errors]]. | ||
| + | #If required, select '''Payment...''' to enter any [[Direct Bill: Adjust Commission for Fees or Agency Bill Payable|Direct Bill Commission Adjustments]]. | ||
| + | #Close the commission builder download to return to the pending tab. | ||
| + | #'''Right-Click''' on the pending commission builder download and select '''Release this Item'''. | ||
| + | #'''Right-Click''' on the pending commission builder download and select '''Process this Item'''. | ||
| + | |||
| + | In a single step, Commission Builder will create (or use an existing) a cash transaction, create the invoices, and apply the cash/check transaction to the invoices. | ||
Latest revision as of 19:24, 19 July 2021
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Newton's Commission Download is an invaluable tool for the modern agency. Some carriers, however, still do not offer downloadable statements. Commission Builder offers an easy way to create a batch of invoices for the our agents still receiving paper documents.
Enter a batch of invoices from a single screen, instead of loading each client and policy individually, automatically calculating agency and producer commissions as you go.
Frequently Asked Questions (FAQ)
Initial Statement Setup
- From the main Agency System's menu select Company -> Download ->Pending tab.
- Right-click on a blank/white area of the screen, and select New Commission Builder.
- Put in the Company you received the money from.
- Date the money was received.
- Add a Description.
- Check Number for check received from company. For companies that direct deposit the money use EFT.
- Put in the total Premium the company is paying commissions on.
- Put the Commission dollar amount of the check received.
- Check Make a Cash Transaction if you want a cash receipt to be created, and mark the invoices as paid select this option. Otherwise only the invoices are created, and not reconciled showing what company paid.
- Click OK.
Adding Lines
- Select the Add Lines button. This allows you to enter each item as it appears on the commission statement from the company.
- Type in the Policy number and select policy.
- To attach the invoice to a specific transaction, hit the Seqs button and select accordingly.
- To insert an Audit into a prior policy term, select Seqs, click to highlight a transaction from the prior policy term, select OK. The transaction used for Audit (AUD) can now be entered.
- If the transaction was not found a new sequence may be created, you can type in Transaction, and Policy Effect/Expiration dates for the new transaction.
- If REN is entered, the policy effective and expiration dates will automatically extend to a new policy term. The policy term should only have one renewal sequence per policy term.
- Once you have completed all items for that policy you may select one of three options, “Save And Add Another,” “Save And Exit,” or “Don’t Save, Exit.”
- Select Save and Exit when finished adding lines.
- Select Show Errors....
- Clear any remaining Commission Notes and Errors.
- If required, select Payment... to enter any Direct Bill Commission Adjustments.
- Close the commission builder download to return to the pending tab.
- Right-Click on the pending commission builder download and select Release this Item.
- Right-Click on the pending commission builder download and select Process this Item.
In a single step, Commission Builder will create (or use an existing) a cash transaction, create the invoices, and apply the cash/check transaction to the invoices.
