Navigation:  Loan Screens > Insurance Screen Group > Policy Detail Screen > Commission Information tab > Corporate Income field group > Commission Percent

Entry: User, numeric

F/M: Yes

Mnemonic: INCMPT

Screen: Loans > Insurance > Policy Detail > Commission Information tab

 

Use this field to indicate the commission percent earned for selling the selected insurance policy. Use this field in calculating the Original Amount for Branch, Corporate, and Cost (Commission Percent x Original Premium).

 

The amount earned from the commission percent can be divided amongst the branch and corporation, according to how the fields are set up on the GOLD Services > General Ledger > Setup G/L and Commissions screen.

 

On the Summary of Insurance Report (FPSRP190), the commission amount for the month is calculated using this field. It is calculated as follows:

 

Gross Premiums - Refunds = Net Premiums x Commission Percent = Commission earned for month