Bill Installments with Split Commissions in
Product: WinTAM Series 6; The Agency Manager Series 7 and
Split commissions are used when a company is paying the agency different
rates of commission on the same premium. It may also be used if the producer
commission is going to be divided between more than one producer if only one
producer is listed in the policy detail. Follow the steps below to bill
installments with split commissions.
Note: Any changes made to a split transactions will delete the
split, so be very careful when entering it so that changes are not needed.
Installments with Split Commissions in WinTAM
- Access Clients, Invoices, Add, Add a Transaction. The Enter
New Transactions screen appears.
- Select Installment Plan, choose the correct policy, then
- Select the frequency of the installments, and the number of cycles needed.
Enter the type of transaction and a brief description.
- Enter the down payment,
if applicable, then the amount of the total plan.
- After entering the amount, click Options, then Splits.
- The Split
Commissions screen appears. Use this screen to split the agency commission or
the producer commission.
- To split the agency commission, enter in the percent of
commission and the amount of premium that is for that specific commission
percentage. Then add a second line, put in that commission percent, and the
amount of premium.
Note: You can also split the
commission between two different billing companies. This is used if
more than one billing company is picking up different exposures on the
premium amount. This is explained in more detail in Splits
on Company Commissions.
- To split the producers commissions, at the split screen, go to Options,
Modify Commissions and make any pertinent changes.
- To view the installment plan
after it is entered, click OK on the transactions screen and the View
Installments Before Accepting screen displays.
Installments with Split Commissions in DOSTAM
- Access 1 Customer Activity and
bring up the customer.
- Type T to transact, select the policy, and type INS for
the transaction type.
- Choose New Installment Plan and enter the frequency and
- Enter the transaction type, description and down payment.
- Enter the
total amount of the plan.
- Press [Enter] from the Amount field to display an option
line. Select S for split, and do the necessary commission split. If you are
splitting the producer only, on the field that is PR, select Yes; the program
lets you modify the producers commissions.
April 06, 2011 09:30 AM