Pay Codes are one factor that controls Advances. The Comissio system comes with default Pay Codes. One Pay Code to use allow Advances from the Commission Rates (Default), one for to not pay Advances (As Earned), and one for converting existing policies (Converted which is also As Earned).
More Pay Codes can be created for reporting purposes or to specify the number of Advance months. Typically, where a Pay Code that specifies the number of months for Advance is helpful is for Short Term Medical Policies that are paid monthly but where the overall term of the Policy determines the Advance. So, if a 12-month term has a 6-month Advance, and a 6-month term pays a 3-month advance, and all have the same Plan Name, then using different Pay Codes will allow paying the correct Advance.
Refer to the section on the commission calculation to see how Pay Codes factor into determining what Advance is paid.
Pay Codes list page
Pay Codes – Add Pay Code page
When creating a pay code, checking ‘As Earned’ will not allow Advances to be paid on the Policy with the Pay Code. If it is not checked, then the system will look for an Advance Months value in the Pay Code, Commission Plan Rates, and Custom Rates for the respective Agents.
When Advance Months are entered in a Pay Code, it will take precedence over the Advance Months entered in Commission Plan Rates. Advance Months from Custom Settings however will take precedence over a Pay Code Advance Months but only if the Custom Settings Advance Months are less than the Pay Code Advance.