Difference between revisions of "Direct Bill: Commission Statement Processing"
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There are a number of options than can be used, and they vary in terms of how much work is involved, and how much detail you can get from the system. | There are a number of options than can be used, and they vary in terms of how much work is involved, and how much detail you can get from the system. | ||
| − | A key question is “Do you pay [[Producer Profile|producers commission]] based on individual sales?” If you do, you must record those sales as individual invoices, so you can pay them correctly. That requires creating invoices through, [[Commission Download]], [[Commission Builder]], or [[#Create Individual Direct Bill Invoices and Reconcile Receivables|individually]]. | + | A key question is “Do you pay [[Producer Profile|producers commission]] based on individual sales?” If you do, you must record those sales as individual invoices, so you can pay them correctly. That requires creating invoices through, [[Commission Download]], [[Commission Builder]], or [[#Option C: Create Individual Direct Bill Invoices and Reconcile Receivables|individually]]. |
==Frequently Asked Questions (FAQ)== | ==Frequently Asked Questions (FAQ)== | ||
*[[Talk:Direct_Bill:_Commission_Statement_Processing#How_do_I_run_a_report_for_total_commission_received_by_company.3F|How do I run a report for total commission received by company?]] | *[[Talk:Direct_Bill:_Commission_Statement_Processing#How_do_I_run_a_report_for_total_commission_received_by_company.3F|How do I run a report for total commission received by company?]] | ||
| − | == Record Direct Bill Commissions by Company Without Invoicing == | + | == Option A: Record Direct Bill Commissions by Company Without Invoicing == |
The simplest method is to simply deposit the commission checks in your bank, and record the monies received directly as income. | The simplest method is to simply deposit the commission checks in your bank, and record the monies received directly as income. | ||
See: [[Direct Bill: Record Commissions By Company Without Invoicing]]. | See: [[Direct Bill: Record Commissions By Company Without Invoicing]]. | ||
| − | If you choose to deposit the monies straight to income, you won’t be able to get accounting information about specific policies. You will be able to get production numbers. For policies that are downloaded, the term premiums are included in the download. For policies that are not downloaded, you would input the term premium manually using the [[ | + | If you choose to deposit the monies straight to income, you won’t be able to get accounting information about specific policies. You will be able to get production numbers. For policies that are downloaded, the term premiums are included in the download. For policies that are not downloaded, you would input the term premium manually using the [[Policy_Dashboard#Policy_Summary|Policy Dashboard]]. |
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| + | == Option B: Commission Download and Commission Builder== | ||
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[[Commission Download|Commission Statement Download]] is a very fast way to get the individual customer accounts updated, but it is only available from some companies. [[Certified Download Companies|We are certified with several hundred companies for commissions]]. | [[Commission Download|Commission Statement Download]] is a very fast way to get the individual customer accounts updated, but it is only available from some companies. [[Certified Download Companies|We are certified with several hundred companies for commissions]]. | ||
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If you use the Commission Builder or Commission Download, you will be able to use all the reports in the system to track your income and growth. | If you use the Commission Builder or Commission Download, you will be able to use all the reports in the system to track your income and growth. | ||
| − | == | + | == Option C: Create Individual Direct Bill Invoices and Reconcile Receivables == |
[[Invoice: Create An Invoice]] | [[Invoice: Create An Invoice]] | ||
[[Reconcile Company Receivables]] | [[Reconcile Company Receivables]] | ||
Latest revision as of 20:08, 28 August 2017
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There are a number of options than can be used, and they vary in terms of how much work is involved, and how much detail you can get from the system.
A key question is “Do you pay producers commission based on individual sales?” If you do, you must record those sales as individual invoices, so you can pay them correctly. That requires creating invoices through, Commission Download, Commission Builder, or individually.
Contents
Frequently Asked Questions (FAQ)
Option A: Record Direct Bill Commissions by Company Without Invoicing
The simplest method is to simply deposit the commission checks in your bank, and record the monies received directly as income.
See: Direct Bill: Record Commissions By Company Without Invoicing.
If you choose to deposit the monies straight to income, you won’t be able to get accounting information about specific policies. You will be able to get production numbers. For policies that are downloaded, the term premiums are included in the download. For policies that are not downloaded, you would input the term premium manually using the Policy Dashboard.
Option B: Commission Download and Commission Builder
Commission Statement Download is a very fast way to get the individual customer accounts updated, but it is only available from some companies. We are certified with several hundred companies for commissions.
Commission Builder is a fast method of updating individual customer accounts based on the printed statement received from the company.
If you use the Commission Builder or Commission Download, you will be able to use all the reports in the system to track your income and growth.
