Commission Rate Plan Basics

Commission Rate Plans provide a flexible way to change actual commission rate based on a sliding scale of values. This is useful if your company has various commission rates charged to a client depending on amount paid, amount owing or other criteria.

Collect! supports several types of commission rate plans. For example, you may base your commission rate on the value of the principal entered. Or, your commission rate may be decided by the number of days since the account was listed.

Currently the types of calculations supported are as follows:

• Age
• List Amount
• Payment Amount
• Paid To Date
• Payment Days From Listing
• Payment Days From Delinquent
• Payment Days From Charged
• Remaining Balance

Collect! can evaluate and calculate the commission rate required using each of these methods. Each method is explained in detail.

Commission Rate Plans may be assigned to a client. Then, whenever a new debtor is created for the client, the Commission Rate Plan will automatically be assigned to the new debtor.

A Commission Rate Plan may also be assigned individually to any debtor.

Commission Rate Plans should be used only when the commission rate needed is truly a multi-level formula. Commission Rate Plans are not necessary when your rate may change once - based on age, for example. For this you may use a contact event, scheduling the commission rate to change in 30 days, or perhaps, to change when the account goes to legal. Using a Commission Rate Plan for such simple steps creates a bit more calculating overhead when transactions are posted.

Commission Rate Plan form

Accessing Commission Rate Plan

The Commission Rate Plan form may be accessed in many ways. Providing you have access to the various menus and forms, you can use one of the following ways to get to the Commission Rate Plan form.

1. Using the menu bar at the top of Collect! select System to display the drop-down menu. Select Financial Settings from this menu and then Commission Rate Plans from the side menu. The list of existing Commission Rate Plans will appear.

2. Or, you can also gain access to Commission Rate Plans from the Main Menu form. Select the System Administration button to display the System Administration form. Select the Setup and Configuration button to display the System Setup form. Select the Plans and Reference Tables button to display the Plans, Tables and Defaults form. Select Commission Rate Tables to display the list of existing Commission Rate Plans.

3. Or, while on ANY form that has a pulldown list to select a Commission Rate Plan Code, you can use the pick list arrow. The Commission Rate Plans list will display the existing commission rate plans that are currently in the system.

See Also

- Commission Rate Plan