In the Commission Accounts page, you can link together commission types with a policy business and define which accounts should be affected when the commission calculated and posted to financial. Commission fees are usually paid from the Insurance Company to Agents or other Insurance Companies. Commission types were created in the Commission Types page of the Fees sub-module in the Insurance Setup module. Policy business types were defined in the Policy Business page of the Insurance Classes sub-module in the Insurance Setup module.

 

To inquire about certain previously added Commission accounts you need to fill in the searching criteria at the top of the page by specifying the fields ( insurance class, policy type... etc. ) you are searching for and click. Where the commission types and business types will be filtered as shown in below figure:

 

To link together a commission type with a policy business and to set an account, perform the following steps:

 

§  Check-in the checkbox corresponding to the commission type listed in the Commission Types block. Similarly, check-in the checkbox corresponding to the policy business listed in the Policy Business block;

§  Select the Branch and Account Number. This is the account that the select commission amount will be directed towards;

§  Click on  to move your selection into the Commission Accounts block.

 

To edit any entry, select it in the Commission Accounts block and accordingly, the entry will be displayed in the Inward Commission Accounts Entry block where you can make any desired changes. If you would like to add a new entry in this block, you can click  and perform the following steps;

 

 

§  Select the Insurance Class for this flex column. Based on the insurance class you choose, the Policy Type drop-down list will be updated with the relevant values. Select the Policy Type that corresponds to this flex column;

§  Select the Business Type for this commission, These business types were predefined in the system;

§  Select the Commission Type from the predefined list;

§  Select the Branch where this inward commission will be used

§  Select the Addition Account

§  Select the Cost Center from the predefined list;

§  Select the Refund Account in case it was different in the policy;

§  Once you have finished, click  to save the changes