In July, we updated the Commission Module to improve agent balance and debt tracking in AgencyBloc.
2022.07.19 - Commission Enhancements for Carrying Forward Agent Debt
NEW | Finalize agent payments to track and carry forward agent balances
NEW | Track commission advances and one-time payments with agent adjustments
NEW | Export adjustment data with commission reporting
UPDATE | Control who can manage adjustments with new Security Group permission
UPDATE | Agent Statements show agent payment and adjustment details
UPDATE | Placed Date Utilities link in a new location on the Commission page
2022.07.19 - Commission Enhancements for Carrying Forward Agent Debt
To help you manage agent balances more efficiently and accurately in AgencyBloc, we made some enhancements to the Commission Module. These will allow you to track advances, carry over agent debts, and hold and carry forward agent balances.
NEW | Finalize agent payments to track and carry forward agent balances
To track and carry forward agent debt, you will need to finalize agent payments. This allows AgencyBloc to calculate balances for your agents based on the commission earned, agent adjustments, and forwarded balances from previous dates.
Also, you have the option to set a minimum threshold. Agent balances that meet this threshold will be paid, while those that don’t will carry forward.
Related Help: Finalizing Agent Payments, Locking & Unlocking Agent Statement Dates, Adding an Agent Adjustment
NEW | Track commission advances and one-time payments with agent adjustments
With agent adjustments, you can give or take money from agents for one-time payments that are not specific to policies. This includes advances. Adjustment amounts will be applied to agent balances when you finalize agent payments.
Also, if you’re keeping track of agent balances in another system outside of AgencyBloc, you can bring those totals into AgencyBloc using adjustments.
Related Help: Adding an Agent Adjustment, Finalizing Agent Payments, Agent Adjustments Report
NEW | Export adjustment data with commission reporting
To help you reconcile payments and CSV agent statements, we added a new Agent Adjustments commission report. This report exports a list of all adjustments that were applied to a specific Agent Statement Date or a range of dates.
Related Help: Agent Adjustments Report, Adding an Agent Adjustment
UPDATE | Control who can manage adjustments with new Security Group permission
To help you protect your adjustment data, we added a new Manage Agent Adjustments permission to Security Groups. This permission is required to add, edit, and delete adjustments on Agent records.
UPDATE | Agent Statements show agent payment and adjustment details
With the addition of agent payments and adjustments, we updated the PDF statements to show those details. Please note that the CSV statements will not show payment or adjustment information. If you use the CSV statements, you can pull the adjustment details using the new Agent Adjustments report.
You can also exclude the agency, client, and carrier summaries from the PDF statements.
Related Help: Agent Statements, Finalizing Agent Payments, Adding an Agent Adjustment
UPDATE | Placed Date Utilities link in new location on the Commission page
On the Commission page, we moved the link to Date Utilities from the Commission Module section to the page header.
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