If you are a member of a Life, Pensions & Investments network you should save the name of your network in the address set called “Companies, Network” (see “Clients, Entering & Saving Clients”), with as much other information as you care to enter, like the example below.
Then when completing policy records, you should always initially enter the full amount of commission, as shown below and described in “Life, Commission”.
Then, at the bottom of the Commission screen, tick the “Deduct commission” box, and you’ll be taken to a “Network Deduction” dialogue, as shown below, where you should find your network’s address record (e.g. “Countrywide”) via the “>” button.
Next, on the “Initial deduction” side, enter the network’s “Deduction %”. Click the “=” button next to the “Deduction amount” and its value will appear automatically, then do likewise for the renewal side. Click “OK” when done. On return to the commission screen you’ll see that the initial and renewal commission fields now contain the net amounts, ready to be posted to the accounts. On following occasions the system will remember the last “Deduction %” figure and fill in the boxes for you automatically, though of course you may still override the figures.
Then subsequently, when reconciling a commission statement from your network (e.g. Countrywide) the “Reconcile Account for..” screen will start off empty, because your various commissions may have been from CGU, AXA, etc. However if you click the “Signpost” button and select “Include all outstanding SALES invoices” then they’ll all appear, as shown below.
To get a report of all the commission deductions you’ve paid to your network, like that shown below, starting from the Durell Main Menu…