Receive Payment

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There are many variables that can make commissions and premiums fluctuate, such as adding or subtracting a life from a policy, contributing extra money to a 401K plan or an error.  Thus, the actual amount paid may be more or less than what was expected.  This screen and the payment history that it creates will  keep track of the number of payments, payment dates and indicate discrepancies between the agency and carrier records.

Receiving a Payment

· Double click on agent, client or carrier.
· Select the policy that the premium is being paid to.
· Click on receive payment
· Mark payment date received, actual premium and actual commission received.
· Correct any payment and commission errors and click recalculate payment.
· Click save.

Recalculating Commissions

· Click receive payment.
· Enter actual premium.
· Click recalculate commission.

The Expected Commission and Actual Commission fields will be updated.