Configure broker commission
You must configure a broker commission for an application before you can pay the commission to the broker by performing the following steps:
Steps
Add a commission plan
Log in to your Salesforce account.
Select the App Launcher.
Search for Origination Configuration, and then select it.
Go to Origination Configuration> Broker Plans > Commission Plan.
Select New.
In the New Program page that appears, provide the values as described in the following table, and then select Save:
Selecting Save adds a Commission Plan.
Field Action and Information Program Name Enter a name that uniquely identifies this commission plan.
Note:This field is a mandatory field.
Start Date Enter a date from when you want this plan to be in effect.
This is the start date from when this plan is applicable.
End Date Enter a date that is greater than today.
This is the end date of this plan after which the plan is not applicable.
Add a commission item
Log in to your Salesforce account.
Select the App Launcher.
Search for Origination Configuration, and then select it.
Go to Broker Plans > Commission Item.
Select New Commission Item Setup to setup a new commission item.
Selecting New Commission Item Setup displays New Commission Item Setup section on the same page following the list of commission items already available, if available.
In the New Commission Item Setup section, provide the values as explained in the following table, and then select Save:
Note:Refer to the sample image following the table to understand better.
Field Action and Information Commission Name Enter a name to identify this commission. Commission Type Select the type of commission that must be paid.
The supported options are:
Top-up
Trail
Upfront
Commission Method Select the method of calculating the commission amount.
The supported options are:
Percentage: Select this value to calculate the commission as a percentage on the selected value in the following Commission On field.
Flat Amount: Select this value to calculate the commission as a flat amount specified.
Commission On Select the type of amount on which the commission is to be calculated.
The supported options are:
Loan Balance
Principal Remaining
Consolidated Balance
Note:In Q2 Origination, all the commission is calculated on the Loan Amount in case of loan type of application or on credit limit in case of LoC application.
Commission Value Enter an amount to pay as commission. This amount depends on the Commission Method selected. If the Commission Method selected is Percentage, then the Commission Value is considered as a percentage. Otherwise, it is a flat amount. Start Date Enter a date that is either today or a date that is greater than today. The following image displays the details of the New Commission Item Setup section:
Selecting Save adds a commission item. You can now create a commission plan.
Edit or delete a commission item
To edit or delete a Commission Item, follow the steps:
Go to Broker Plans > Commission Item.
Select Edit to edit the commission item.
Selecting Edit displays the following section:
Edit the details as required and select Save.
Note:All fields except Start Date must have some value. Saving the Commission Item with any empty fields results in an error.
To delete any commission item, select Delete.
Selecting Delete displays a confirmation pop-up.
Select Yes to proceed with the deletion and Cancel to cancel the process.
Associate the required commission item with the commission plan or CL Product.
Once the Commission Plan is created as explained in the preceding steps, select the Related tab on that created Commission Plan.
On the Related page, select New for Program Or Product Points Associations.
In the New Program Or Product Points Association page, provide the details as explained in the table, and then click Save:
Clicking Save associates the commission item with the commission plan or CL Product.
Field Action and Information Name Enter a name that uniquely identifies this association of commission plan and the commission item. Program The system auto fills this field with the Commission Plan name that you had saved. CL Product Enter the name of the CL Product that you want to associate with this commission plan, and then select the Show All Results for "<CL Product...>".
Note:This field is optional.
Points Enter the name of the commission item that you want to associate with this commission plan, and then select the Show All Results for "<Commission Plan>".
Note:This field is optional.
Associate the required broker with the commission plan
Prerequisites
Vendor and Program Associations related list must be added to the Program object page layout. Perform the following steps:
Go to Setup> Object Manager, then search for Program, and select that object.
Go to Page Layout > Program layout>, expand the dropdown, and then select Edit.
Drag and drop the Vendor Program Associations related list.
Steps
Log in to your Salesforce account.
Select the App Launcher.
Search for Origination Configuration, and then select it.
Go to the Commission Plan > Related tab.
Select New on the Vendor Program Association, and then provide the details as described in the table:
Field Action and Information Vendor and Program Association Name Enter a name that uniquely identifies this vendor and program. Vendor Select the broker account that you want to associate with the commission plan. Program The system auto fills this field with the commission plan name that you had saved. - Select Save.
Add default commission plan to broker account
To add default commission plan to a broker account, follow these steps:
Log in to your Salesforce account.
Go to the Accounts tab.
Select the account for which you want to add a default commission plan.
Go to the Details tab, and enter or select the name of the commission plan that you want to associate with this account, and then select the Show All Results for "<Commission Plan>".
Select Save.
Note:When the default commission plan is added to the broker account, all the associated commission items linked to that plan are automatically included in the application upon saving the broker party.