Introduction: This guide describes how to use the Commissions Console to setup pay periods and review commission reports.
Navigating the Console
To access the Console, click the Commissions tab (1), then click on Console (2). The Console has three tabs:
Statements: The Statements tab allows you to review Commission reports and statements for each pay period.
The Setup tab allows you to set up the various functions that make up the Console.
The History tab allows you to view a history of past commission runs.
The Statements Tab
The Statements tab displays commissions as a folder tree.
First Level
This folder (A) is always organized by Pay Period. The Active pay period is identified by the large A icon. Periods above the active period are in the future, and periods below the active period have already passed.
Second Level
By default, the folders in this level (B) are organized by Business Role. You can change this in the Setup tab.
Note: In some cases, this folder is named Undefined.
Third Level
Finally, this level is broken down by rep. Clicking on a Rep’s name in the Commissions tree displays the commission statement and detail reports associated with that rep. When a document is in the Review tab (D), only users who have access to the console can see those reports. Once a user clicks Release (E), the documents move to the Release tab (F).
Attention: Each time you generate a commission run, the system overwrites any documents still in the Review tab.
Tip: You can preserve a report or statement by releasing them before generating another commission run. This allows you to compare documents.
History
Setup
The Setup tab allows you to set up several important elements of the Console. The list below briefly summarizes each element.
Commissions Transactions
This tab tells the system what to use as the second level when displaying the Commissions tree. For example, selecting Business Role will group reps by roles such as Registered Rep (RR).
Payroll Periods
This subtab allows you to create the pay periods that serve as the first level of the Commission tree.
Attention: You cannot create a commission run for a pay period until you create the pay period.
Tip: Many users prefer to set up all the pay periods for a given year at the start of that year.
To create a pay period, right-click in the payroll periods window and enter the following information.
Tip: A good naming convention to use is [Year].[Month].[EndDay] [Type] (ie. 2021.8.02 Brokerage).
Period Name
Type
Description
Start Date
End Date
Look Back Date
The Look Back Date tells the system how far back to look for transactions that may have come in from feeds after the prior period was posted.
Example:
If the Look Back Date is 7/1, then the system will include any unposted transactions that occurred between 7/1 (Look Back Date) and 8/01 (Start Date).
Business Roles
This section allows you to view the list of business roles in your system and the employees assigned to that role.
Attention: You cannot remove a business role from the system unless there are no employees assigned to it.
Note: The business role assigned in Employee Manager for each employee will automatically prefill here for each employee.
Commission Plans
This section allows you to view which employees, lookup tables, and draws are associated with a selected commission plan.
Employees
Nothing needs to be done here UNLESS an employee requires unique lookup tables, commission plans, draws, or goals. This is how you would override the default assignments setup on the Commission Plan tab.
Lookup Tables
Note: Make sure the tables that pertain to your Commission setup are populated.
Note: You must include a start date on your tables. However, you do not have to include an end date.
Draws
Add description, type, and value to the entry. You may assign the draw to an employee or a commission plan
Adjustments
When adding a Payout Adjustment, you need to provide the following information
Assignment
Type of Adjustment
Adjustment Value
Description (optional)
Date/Date Range
Note: For a One Time Adjustment, populate the Adjustment Date field.
For a Recurring adjustment, populate the Number per Period and Effective date range fields.
Goals
To add a new goal, click the "Add" button in the upper right corner of your screen. Type in all of the goal information and then click Save. You may assign the goal to an employee, commission plan, or a particular business role.
Report Design
On the Reports Design screen, you can customize your generic reports. You may change:
Report Info Name
Commission Plan
Report Description
Business Role, etc.
Commission Dates
The selections you make on this screen determine the order that the system looks at transaction dates when generating a commission run. If the first date isn’t in the record, then the system looks for the second. If that one is missing, then the system looks at the third date.
Fees
Select appropriate checkboxes to add the fees you want to be included in your commission calculations.
Auto Generation
Teams
Status Flags
Audience: Commissions Team Members