Settings - Statement Options
Settings – Statement Options
When the default setting of ‘Send email notifications when statements are generated’ is selected, even if an Agent makes no Net Commissions, a Statement will still be generated for every Agent in a commission cycle.
If ‘Do not send email notifications to Agents/Orgs’ is selected, then no emails will be sent to any Agents telling them a statement has been generated. The statements in this case are still generated, but emails are not sent.
If ‘Do not create Statements and do not send email notifications when all their payable Commission activity is zero’ is selected, a Statement is not created and an email is sent not when their Net is just $0.00, but when all their activity is zero. So, if they had commission on a Policy for $100 and commission on another Policy for -$100, they would still receive the email and have a statement generated.
There are also settings for how the Statements are to be arranged. The ‘Sort Policies by (PDF)’ allows the pdf Agent Statements to be sorted by Product Type or Policyholder. Product Type will display the commission activity by Issuer, then New Enrollments/Monthly Recurring, then Product Type. Policy Holder will display Issuer and then by Policyholder with Product Type within the details.
The ‘Statement Type (CSV)’ will allow options for the number of csv statements or what is contained within the csv statement documents. When segmented is selected, the system will create 3 csv statements, one each for: Commission Activity, Adjustments, and Chargebacks. When consolidated is selected, there will be one csv file that will be created with data of all three activity types. See the section for Agent Statements for more information.
Settings – Policy Lapse and Auto-Chargeback
The Policy Lapse and Auto-Chargeback are described in detail in a section later in this document.
Policy Laps and Auto-Chargeback settings
Settings – Renewal Options
The Renewal options affect what is displayed as a ‘renewal’ in the Dashboard. ‘Policies with effective date greater than 12 months’ is as you would normally expect and relate to Transactions and their resulting commissions from month thirteen and beyond. The other option, Policies in second term or more, regardless of duration, relate to when a Policy effective date is changed it is considered a renewal. This can be helpful for example when there are short term medical policies, that a new effective date and new Transaction(s) mean the Policy was picked but for an additional term.
Renewals settings
Settings – 1099
Comissio will calculate 1099 for the year. The current legal threshold is that companies must generate 1099 forms when Agents make $600 or more in income. The 1099 Minimum will allow tenants to set a different amount, for example if it is desired to create 1099 for Agents that make less than $600. See the section for 1099 End Of Year Processing for more information on the feature to manage 1099.
1099 setting
Admin Fee
This setting will control Commissions based Admin fees. It will not affect Admin Fees based on Advances. See the section for Admin Fees for more details.
Admin Fee Setting
