Commission Status
Commissions (Payouts) are calculated based on the broker dealer's agreement with their brokers. Over the years we learned broker dealers are unique. Their commission calculation requirements reflect their belief in a commission system that will motivate their brokers. BDOS reconizes this, and does not limit you to preconceived constraints as to how commissions should be calculated. Rather, we develop cusom code to meet your specific commission calculation requirements.
Although commission calculation requirements are unique for each broker dealer, there are common concepts. These include commission status, commission adjustment and commission payment.
| Commissions Open | The trade was made and commissions were recorded. But, you have not received payment for the trade. |
| Commissions Pending | The trade was made and you were paid. Typically, the commission will be paid to the broker in the next commission run. |
| Commissions Paid | Commissions that were paid to the broker. |
| Adjustments Pending | Commission adjustments which will be applied in a subsequent commission run. |
| Adjustments Paid | Commission adjustments that were applied. |
Often it is necessary to adjust the total commission paid. BDOS recognizes two types of adjustments. A Common Adjustment can be applied to one or more brokers at a time. In the above form a common "Rep Fee" adjustment of $50 is being applied to a number of brokers. A "One Rep" adjustment can be applied to adjust the total commission of a specific broker.
BDOS allows you to pay the brokers on your schedule. You can set a minimum payout and BDOS only shows brokers that exceed that commission level. The above form shows a minimum broker commission level of $5,000. You might decide to pay your most productive brokers weekly - but only those that exceeded your set minimum level.
BDOS automatically posts the associated general ledger entries, provides an audit trail and records the cash disbursement in your checkbook. If you want, BDOS prints the check on your check stock.