Commission Calculation

commission statement processing

Commission Statement Processing Instructions

  1. A broker needs to license CRM from CC and insert client transactions, company, contact, agents, agent incentive plans and retailer names.
  2. Retailer commission statements need to be provided to CC with the following data:
    • Each transaction must have a unique number (e.g. in Texas – ESI ID) that continues with the transaction even when the retailer changes. This unique number is often supplied by the distribution provider or the state government. 
    • Company Name
    • Commission Amount
    • Usage
  3. CC will create in Google Drive a folder for each broker that is only shared between the broker and CC.  The folder will contain a subfolder for each year.  Within each yearly folder will be a folder for each month. Also, within the yearly folder will be a spreadsheet to record agent expenses by expense category and agent.
  4. LAST DAY OF MONTH – Each month the broker will upload retailer commission spreadsheets to the yearly and monthly folder by the last day of the month for processing and calculating agent commissions for the following month.  Each month the broker will identify agent expenses in the spreadsheet by the last day of the month for processing of commissions for the following month.
  5. 10TH DAY OF MONTH – CC will process the broker’s commission statements by the 10th day of the month in which commission calculations are made.  CC will also upon processing commission statements upload error reports into the monthly folder for broker. 
  6. 12TH DAY OF MONTH – Broker will correct any transactions in CRM that the  error report has identified by the 12th day of the month in which commission calculations are made.
  7. 22ND DAY OF MONTH – CC will process the commission statements once more and will produce the commission calculations for each agent by the 22nd day of the month, which will be available in the reports section of CRM for the broker only.