When is the commission due?

Different commissions become due at different times as described below:

Introduction

This help guide will explain where you can find out when the commissions are due.

Commissions payments can be triggered in the system to automatically become due at different times, based on where the product sits within the associated product workflow.

NOTE:

Outgoing commissions (introducers, advisers etc.)

Outgoing commissions will only have a due date once the incoming commission has been recorded as received.

User Permission(s)

Home > System Settings > User Permission Groups & Set Permissions > Edit (against the user group you wish to update).

The following user permission need to be enabled to allow users to edit and view ‘Commission on a product'.

If you wish for your user to view the details only, then only enable the following options:

Can enquire on incoming commission
Can enquire on outgoing commission
Can view own commission details

INFORMATION:
You need to be a user with permissions to make system changes. If you do not see the above option, please see your system super user.

Mortgage Product(s)

Navigate to you customer’s case, and enter the mortgage product.

Next, locate the ‘Commission Option’ panel.

The commission details link appears next to the proc fee field.

NOTE:

Please note this will only appear, once a lender has been selected plus a value has been entered into the proc fee field and the save button has been clicked.

Protection Product(s)

Navigate to you customer’s case, and enter a protection product.

Next, locate the ‘Commission Option’ panel.

The commission details link appears next to the proc fee field.

Commission Details Link

Once you have clicked your commission details link a popup window will appear.

The example on the right is of a typical commission details window, featuring a proc fee amount due from the lender.

The table is split into incoming commission, outgoing commissions and a total row.

The system will look for a due date and populate the due date column, this will be driven by the stage/status of the product, triggered when a stage has been marked with a special status (Lead, Written, Completed and Cancelled).

Outgoing Commission

Once a payment has been recorded as received against a given commission item, the system will automatically calculate the amount and due time against the individual recipient.

A recipient would include both internal and external entities, who are participating in a commission payment. For example:

Internal:

The business writer (adviser)
The company (your firm)

External:

An introducers (estate agency)
The network (AR firms)

Commission to your Company Only

Commission to an Introducer and your Company