Detailed Field Information Related Information Examples & Tutorials
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Commission Rate Plan

Commission Rate plans allow you to quickly specify a sliding scale for the Commission Rate charged Clients for funds collected from Debtors. You can choose a default within each Client record, which is used for new Debtors assigned to the Client, and you can change the Commission Rate plan for each Debtor.


Commission Rate Plan form

tip.gif Please refer to Commission Rate Plan Basics for steps to access this form.

tip.gif You cannot choose a Commission Rate plan for a Debtor and also a fixed Commission Rate. Select one or the other.

Collect! supports several types of rate plans based on account age, listed amount, amount of an individual payment, and other criteria.

Each plan can have up to six commission rate levels. You can edit the existing rate plans and create new ones.

tip.gif In order for a Commission Rate plan to work properly, all FROM and TO fields must be filled, including a RATE. Break down your rates in whatever way is necessary to ensure that each one of these fields is filled. The MIN and MAX values are optional.

Code

The unique three-character alpha-numeric ID for this plan. When you choose a Commission Rate plan, this ID is displayed in the Commission and Charges form that opens when you click into the Rate field on the Debtor form. Commissions for the Debtor will be calculated as they have been setup for this particular plan. Depending on the plan you choose, the applicable rate will display in the Rate field for this debtor.

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Description

A brief description of the plan. This is displayed in the list of Commission Rate plans. Use a description that will allow the user to quickly identify the plan.

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Type

This field displays the type of plan. This includes age, listed amount, paid to date, payment amount, payment days from listing, from delinquent and from charged, and remaining balance.

* AGE plans use the number of days between the listed date and the charged date to determine which commission rate should be used.

tip.gif For this type of plan, you must have a Charged Date entered. On new accounts, the Charged Date must be entered BEFORE you enter the Principal or Collect! will not be able to evaluate in a timely manner.

* LISTED AMOUNT plans use the Debtor's original principal and interest amounts to determine which commission rate to charge. To have Collect! use just original principal and ignore the interest, post a transaction to record the original interest.

* PAID TO DATE plans select from the rate table based on the amount paid to date. The value in the Paid field on the Debtor form determines the commission amount.

* PAYMENT AMOUNT plans look at each individual payment and use that amount to determine which commission rate to use.

* PAYMENT DAYS FROM plans compare today's date with the appropriate Debtor's date and select from the rate table based on the number of days.

* REMAINING BALANCE plans use the Debtor's amount owing to select from the rate table.

tip.gif The PAID and REMAINING BALANCE plans look at the total amount paid or balance to determine the commission rate.

warning.gif WARNING: Payments must be entered sequentially by date. The commission rate is set by the Debtor's totals at the instant a payment is made using these plans.

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Special Notes About The Plan's Fields

The FROM and TO fields are dollar amounts, like 100 or 100.01.

Make sure all values in your ranges are covered. For instance, if you enter 0 to 100.00 for your first range and 101.00 to 500.00 for your second, you are missing a dollar. Instead, enter 0 to 100.00 and 100.01 to 500.00.

The RATE field is a percentage.

The MIN and MAX fields are dollar amounts. These fields are optional.

You cannot enter text in the plan's FROM, TO, RANGE, MIN and MAX fields. They are for numbers only. If you enter a number without a decimal, Collect! automatically enters two decimal places, i.e. .00

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From 1

*** MUST BE FILLED IN ***

This is the minimum value of the range. In the case of the date plans, this is the number of days. In all other cases, this is dollars.

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To 1

*** MUST BE FILLED IN ***

This is the maximum value of the range. In the case of the date plans, this is the number of days, otherwise this is dollars.

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Rate 1

*** MUST BE FILLED IN ***

This is the commission rate for accounts falling within this range.

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Min 1

*** OPTIONAL ***

This is the minimum value in commissions for a range.

Commission is charged for each transaction in the range and the minimum value will be charged before the Client receives any payment.

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Max 1

*** OPTIONAL ***

This is the maximum value in commissions for a range.

Commission is charged for each transaction in the range and the maximum value will not be exceeded for any value in the range.

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From 2

*** MUST BE FILLED IN ***

This is the minimum value of the range. In the case of the date plans, this is the number of days. In all other cases, this is dollars.

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To 2

*** MUST BE FILLED IN ***

This is the maximum value of the range. In the case of the date plans, this is the number of days, otherwise this is dollars.

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Rate 2

*** MUST BE FILLED IN ***

This is the commission rate for accounts falling within this range.

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Min 2

*** OPTIONAL ***

This is the minimum value in commissions for a range.

Commission is charged for each transaction in the range and the minimum value will be charged before the Client receives any payment.

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Max 2

*** OPTIONAL ***

This is the maximum value in commissions for a range.

Commission is charged for each transaction in the range and the maximum value will not be exceeded for any value in the range.

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From 3

*** MUST BE FILLED IN ***

This is the minimum value of the range. In the case of the date plans, this is the number of days. In all other cases, this is dollars.

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To 3

*** MUST BE FILLED IN ***

This is the maximum value of the range. In the case of the date plans, this is the number of days, otherwise this is dollars.

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Rate 3

*** MUST BE FILLED IN ***

This is the commission rate for accounts falling within this range.

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Min 3

*** OPTIONAL ***

This is the minimum value in commissions for a range.

Commission is charged for each transaction in the range and the minimum value will be charged before the Client receives any payment.

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Max 3

*** OPTIONAL ***

This is the maximum value in commissions for a range.

Commission is charged for each transaction in the range and the maximum value will not be exceeded for any value in the range.

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From 4

*** MUST BE FILLED IN ***

This is the minimum value of the range. In the case of the date plans, this is the number of days. In all other cases, this is dollars.

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To 4

*** MUST BE FILLED IN ***

This is the maximum value of the range. In the case of the date plans, this is the number of days, otherwise this is dollars.

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Rate 4

*** MUST BE FILLED IN ***

This is the commission rate for accounts falling within this range.

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Min 4

*** OPTIONAL ***

This is the minimum value in commissions for a range.

Commission is charged for each transaction in the range and the minimum value will be charged before the Client receives any payment.

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Max 4

*** OPTIONAL ***

This is the maximum value in commissions for a range.

Commission is charged for each transaction in the range and the maximum value will not be exceeded for any value in the range.

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From 5

*** MUST BE FILLED IN ***

This is the minimum value of the range. In the case of the date plans, this is the number of days. In all other cases, this is dollars.

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To 5

*** MUST BE FILLED IN ***

This is the maximum value of the range. In the case of the date plans, this is the number of days, otherwise this is dollars.

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Rate 5

*** MUST BE FILLED IN ***

This is the commission rate for accounts falling within this range.

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Min 5

*** OPTIONAL ***

This is the minimum value in commissions for a range.

Commission is charged for each transaction in the range and the minimum value will be charged before the Client receives any payment.

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Max 5

*** OPTIONAL ***

This is the maximum value in commissions for a range.

Commission is charged for each transaction in the range and the maximum value will not be exceeded for any value in the range.

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From 6

*** MUST BE FILLED IN ***

This is the minimum value of the range. In the case of the date plans, this is the number of days. In all other cases, this is dollars.

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To 6

*** MUST BE FILLED IN ***

This is the maximum value of the range. In the case of the date plans, this is the number of days, otherwise this is dollars.

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Rate 6

*** MUST BE FILLED IN ***

This is the commission rate for accounts falling within this range.

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Min 6

*** OPTIONAL ***

This is the minimum value in commissions for a range.

Commission is charged for each transaction in the range and the minimum value will be charged before the Client receives any payment.

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Max 6

*** OPTIONAL ***

This is the maximum value in commissions for a range.

Commission is charged for each transaction in the range and the maximum value will not be exceeded for any value in the range.

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Delete

This button is visible only on the list of all Commission Rate Plans. Select this to delete the highlighted item from the database.

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Edit

This button is visible only on the list of all Commission Rate Plans. Select this to open and modify the highlighted item.

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New

This button is visible only on the list of all Commission Rate Plans. Select this to open a new blank Commission Rate Plan form.

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Help

Press this button for help on the Commission Rate Plan form and links to related topics.

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Cancel

Selecting this button will ignore any changes you may have made and return you to the previous form.

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OK

Selecting this button will save any changes you may have made and return you to the previous form.

<<

Selecting this button will take you to the previous commission rate plan.

>>

Selecting this button will take you to the next commission rate plan.

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See Also

- Commission Rate Plan Basics - Introduction/Accessing
- Commission Rate Plan Samples
- How To Create A New Commission Rate Plan

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