A Partial Payment Commission Calculation means users can allocate Broker Flat Fees and Other Fees to partial payment transactions (20125613A, 20125613B, etc.) that will allow the user to pre-define specific Fee amounts that do not use the existing proportional calculations.
Sample Partial Payment Commission plan:
In the sample above, Partial Payment Transaction A will deduct 10% + $500.00 as the Broker Portion, Partial Payment B will deduct 10% + $250.00 as the Broker Portion and so on… until the total commission receivable is equal to 90% + 1200.00, which would be represented by five (5) partial payment transactions.
Enter the percentage value by entering value in Main Transaction – Total Commission field. This value must be the same for all levels of the commission plans and once you enter the required value in the Main Transaction -Total Commission percent column, the 1-12 percentage fields will auto-populate with the same percentage and become locked.
Flat Fee is defined by the user on each line; total of each will appear in the Main Transaction – Total Commission (Flat) line.
Users will assign the “Partial Payment” commission plan to the “Main” partial payment transaction.
The TOTAL Broker Flat Fee expected to be paid in subsequent A,B,C transactions will adhere to current “Forced Validation” flag and logic.
When users enter A, B & C transactions, the corresponding Fee(s) 1, 2, & 3 from the commission plan will populate the commission detail window accordingly.
You will ONLY be able to override the commission plan with this type of partial payment transaction, otherwise Commander Back Office does not allow for this functionality.
You will be able to change the partial payment type commission plan on the main Transaction once it has been selected and has at least one Partial Payment Transaction created.
Some additional notes relating to Partial Payment type commission plans:
- Calculations that will not be functional with this type of plan:
- Up to $
- Other Fee(s): percentage and/or flat fee based
- Calculations that will be functional with this type of plan:
- Comm Calc. Base options (ALL)
- Flat Calculation Type must be N:Non-Proportional for this type of commission plan
All existing Additional Reports that support Partial Payment transactions will display the new calculations.