Monthly commissions
Monthly commissions can be paid electronically or manually. If you choose to pay monthly commissions electronically, the following timeline applies, beginning on the first business day of the month:
- Day 1: You complete the steps to process commission payments electronically.
- Day 2: The vendor debits your commission account.
- Day 3: The vendor processes credits to agency accounts.
- Day 4: Funds are credited to agency accounts.
Prerequisites
Before you can pay monthly commissions electronically, you must be set up with a payment vendor. Integrate with one of the following vendors to process commission payments in BriteCore:
Notes:
- In the Contacts module for the agency you are processing commission payments for, ensure Issue Commission Payments Electronically is selected.
- Under Issue Commission Payments Electronically, the Financial Account dropdown list should also display Account commission payments should be issued to.
Pay monthly commissions electronically
- On the first business day of each month, in BriteCore, select Policies.
- On the Policies screen, select Payments > Pending Commission Payments > Commission Payment Queue.
- Ensure that ACH is selected.
- In the Commission Payment Queue table, you can view the agency commissions.
- Select the commission payments you want to pay.
Note: If you want to pay all monthly commissions electronically, select Select All.
- Select Process Commission Payments.
Contingent commissions
Prerequisites
Before you can pay contingent commissions electronically, you must be set up with a payment vendor. Complete the instructions to integrate with your chosen vendor. The following vendors can process commission payments:
Ensure each agency associated with the contingent commissions you're processing has an Agency Number on its Information screen in the Contacts module.
Pay contingent commissions electronically
- In BriteCore, select Policies.
- On the Policies screen, select Payments > Pending Commission Payments > Commission Payment Queue.
- Select Upload CSV.
- In the Upload CSV dialog box, select Download Sample Template.
- Overwrite the template with your data and save the document, and then select Choose File.
- Locate the CSV file you saved, select Open, select Upload, and then select OK.
Note: If there is an error in uploading the file, an error message will populate and provide an explanation for the failed upload. If the upload is successful, the Message pop-up window will open, saying: Commission payments successfully imported.
- In the Commission Payment Queue table, select the contingent commission payments you want to process.
Note: If you want to process all contingent commission payments, select Select All.
- Select Process Commission Payments.