Pay monthly and contingent commissions electronically

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 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. Complete the instructions to integrate with your chosen vendor. The following vendors can process commission payments:

The Issue Commission Payments Electronically checkbox should be selected in the Contacts module for the agency you are processing commission payments for. The Financial Account dropdown list beneath the Issue Commission Payments Electronically checkbox should also display the account commission payments should be issued to.

Pay monthly commissions electronically

  1. On the first business day of each month, navigate to Policies > Payments > Pending Commission Payments > Commission Payment Queue.
  2. The ACH radio button will be selected.
  3. View the agency commissions in the Commission Payment Queue table.
  4. Select the checkboxes associated with the commission payments you want to pay. If you want to pay all monthly commissions electronically, select the Select All checkbox.
  5. 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

  1. Navigate to Policies > Payments > Pending Commission Payments > Commission Payment Queue.
  2. Select Upload CSV. The Upload CSV dialog box will open.
  3. Select Download Sample Template.
  4. Overwrite the template with your data and save the document.
  5. Select Choose File.
  6. Locate the .csv file you saved, and double-click it or select Open.
  7. Select Upload. 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.

  8. Select OK. The data you added to the template will now populate the Commission Payment Queue table.
  9. Select the checkboxes associated with the contingent commission payments you want to process. If you want to process all contingent commission payments, select the Select All checkbox.
  10. Select Process Commission Payments.