Loans > Loan Screens > Insurance Screen Group > Adjustments Screen > Processing transactions > Commission Adjustment transaction (tran code 461)

The Commission Adjustment transaction (tran code 461) is issued during the Cancel VSI Insurance transaction (tran code 2890). This transaction determines the amount of commissions earned based on the cancellation code and the effective date of tran code 2890. The 461 transaction is run adjacent to the 2890 transaction. You don't actually see this transaction in GOLDTeller.

On a flat cancel (Cancel Code 2), the original amount of the policy is rebated back to the customer for the full amount (either by check or loan balance, depending on what is selected in the Transaction Type/Process Transaction section). A 100 transaction (Insurance Commission Debit) is then issued to clear the remaining unearned commissions from the General Ledger account.

On an insured-request cancel (Cancel Code 4), the 461 transaction will amortize the commissions from the Policy Effective Date on the Loans > Insurance > Policy Detail screen to the Effective Date on the 2890 transaction. The difference between an insured-request cancel and a flat cancel is the adjustments run based on the date of cancel, not as of the policy open/effective date.