With this report, you can gauge agent performance based on current and historic agent balances, agent payment frequency, and balance carryovers. See if agents are carrying a balance from month to month, if agents have been paid, and when agents were last paid.
This report requires you to finalize agent payments and lock Agent Statement Dates. For in-depth details about commissions earned by Policy, run the Commission Payments Report or the Commission Totals Report.
IN THIS ARTICLE
Video recorded on October 11, 2022
What's in the report
To run this report, you must have the following Security Group permissions:
- Report “Visible”
- Visible (Full Commission Viewing)
Interpreting the data
This report incorporates commission data for locked Agent Statement Dates only. Only run this report for locked Agent Statement Dates that are on or after 1/1/2022 or your report will return incorrect data.
How are agents performing?
For a high-level view on agent performance, turn your attention to the ‘Total Comm Earned’ and ‘Total Chargebacks’ columns.
The ‘Total Comm Earned’ column shows how much commission an agent has earned over the specified Agent Statement Date range. This can help you spot trends and patterns in their commission activity.
The ‘Total Chargebacks’ column shows whether an agent was paid for policies that received chargebacks. A chargeback happens when a policy is canceled or lapses.
Has the agent ever had balance carryover?
In the report output, you will see a column for ‘<AGENT STATEMENT DATE> Forwarded Balance’. The forwarded balance can tell if you the agent had any carryover.
Forwarded Balance = Total Commission Earned +/- Total Processed Adjustments & Advances
If the agent had balance carryover for a particular period of time, it will show a positive or negative amount. If they didn’t, it will show “N/A”.
Tip: If you run the Agent Adjustments report, you can see when the agent’s forwarded balance first started.
If the forwarded balance is:
- Positive: The minimum payment threshold has not been met and the agent’s balance has been carried forward until the accumulated balance meets the minimum payment threshold.
- Negative: The agent owes you money and their balance will be carried forward until they repay you the full amount.
In general, the ‘Forwarded Balance’ column will show you if an agent is consistently carrying over a balance.
- If the agent is consistently carrying over a negative balance, it generally means that the agent is not earning sufficient commissions.
- If the agent is consistently carrying over the same positive balance, it means they’re not earning enough to reach the minimum payment threshold or may not be earning new money at all.
Filtering the data
If you have a lot of data, it could take AgencyBloc a little time to export your commission data. To narrow your report results and improve the report download speeds, use any of the following filters:
- Agent Statement Date - This filter narrows the report results to include balance data for the specified date or date range. You must select either a single locked Agent Statement Date that is on or after 1/1/2022, or a range of locked Agent Statement Dates that are on or after 1/1/2022 to run the report.
- This report incorporates commission data for locked Agent Statement Dates only. It does not include commission data for unlocked dates. If you choose an unlocked date, the report results will be incorrect.
- Agency - This filter narrows the report results to include balance data for Agents that are associated with the specified Agency only.
- Agent Payee - This filter narrows the report results to include balance data for the specified Agent only.
- Agent Status - This filter narrows the report results to include balance data for Agents with the selected status(es) only.