Splits on Company Commission

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 can also be used if there happens to be more than one company that will be picking up different exposures on the 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 items with split commissions.

Note: Any changes made to a split transaction will delete the split, so be very careful when entering it so that changes are not needed.

Follow the steps below to enter a split company commission in WinTAM.

  1. In TAM, select a client.
  2. Click the Invoices button.
  3. Click Add.
  4. Select Add a Transaction.
  5. Select the appropriate policy.

  1. Select the appropriate transaction type, for example, REN.
  2. Fill in the Premium amount.
  3. Click Options.
  4. Select Splits.

Note: You are now brought to a screen where you can split the company commission. For this example, you have a REN transaction with a premium of $678. The commission percentage is 15% for the company HAR. You want to bill $600 at 15% and $78 at 10% commission.

  1. On the first line in the premium field, enter $600 and press the [Tab] key.
  2. Fill in the company (HAR ) and commission field (10% ). The premium field defaults to $78.

Notes:

  1. Click OK to accept this item.
  2. OPTIONAL - To split the producer commission as well, click Options, and select Modify Commissions.
  3. Enter your new producer commissions.

If you have any questions or problems following these instructions, please contact the Accounting Support team.

Last Revised: May 30, 2008 04:32 PM

SWE5474