Bill Installments with Split Commissions in TAM

Product: WinTAM Series 6; The Agency Manager Series 7 and above

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

  1. Access Clients, Invoices, Add, Add a Transaction. The Enter New Transactions screen appears.
  2. Select Installment Plan, choose the correct policy, then click OK.

  1. Select the frequency of the installments, and the number of cycles needed. 
  2. Enter the type of transaction and a brief description
  3. Enter the down payment, if applicable, then the amount of the total plan.

  1. After entering the amount, click Options, then Splits
  2. The Split Commissions screen appears. Use this screen to split the agency commission or the producer commission. 
  1. 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.

  1. To split the producers commissions, at the split screen, go to Options, Modify Commissions and make any pertinent changes.
  1. 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 

  1. Access 1 Customer Activity and bring up the customer. 
  2. Type T to transact, select the policy, and type INS for the transaction type. 
  3. Choose New Installment Plan and enter the frequency and the cycles
  4. Enter the transaction type, description and down payment
  5. Enter the total amount of the plan
  6. 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.

Last Revised: April 06, 2011 09:30 AM

SWE5569