From the Insurance Commission Sidebar Menu, click on the Adjustments icon.  Then click on the Add Button.

Commission Adjustments Overview

The Commission Adjustment Screen is where you enter the actual payment amount, who pays, and who gets paid.  This is where you create the adjustment transaction.

Adjustment transactions are not associated with any policy or coverage.  They are a separate transaction that can be shown on reports.

Note: Any adjustment or expense you enter into the system will be subtracted from producer totals on transmittals and added to agency totals (assuming the agency is the payee) on agency net reports.  If you do not want this to occur, do not enter them into the system and just use your accounting system to create invoices and receive checks.

Payor (Paid By)

Use the drop down list to enter the name of who will be paying the expense or is having the commission adjusted.

Payee (Paid To)

This will often be the agency, but in the case of a bonus, the Payee would be a producer or manager.

Adjustment Type

Use the drop down list to choose the type of adjustment you are recording. This is a customizable list and if you have the security rights, you can edit this list.

Amount

Enter the amount of the payment. Always enter a positive amount. The amount will be added or deducted based on the Payor and Payee fields.

Status

If there is no Posted Date, the Status will show as Due.  When a Posted Date is filled in, the Status will show as Paid in Full.

Like other commissions, in order for them to appear on a Producer Transmittal Report and be subtracted from the producer's total, you will need to enter a Paid Date, which will usually be the date of the Transmittal you send to the producer.

Due Date

Enter the date when the adjustment or expense is due.

Posted Date

Enter the collection date.  This would be the date you pay commission to the producer and subtract the amount from the producer's total.

Comments

This is an important field as it will appear on your transmittal report and explain the deduction.

Bonus Commissions

While expenses are payments from the producer or manager to the agency, a Bonus Commission is a payment from the agency to the producer or manager.

These are also adjustments, but be sure you reverse the Payor and Payee so that the Payor (Paid By) is the Agency and the Payee (Paid To) is the producer or manager.

See Also

Add / Modify Adjustments