WHY by Lee Rosen - Advisor Reconciliations: Enhancing Management Flexibility
The Advisor Pay Reconciliation gives an agency an opportunity to search for paid commissions, choose the reservations the agency is paying the advisor and create a detailed statement. The statement can then be viewed in Tres, downloaded or and/or emailed to the advisor. These results are further customized by setting up Advisor Pay Reconciliation Rules in your Agency Settings.
Whether you pay your advisors weekly, bi-weekly or monthly, below is the suggested workflow:
- Run the Advisor Pay Reconciliation
- Record an Other payment to the Advisor
- Review and/or run the Advisor Statement
- Note: Advisors can view and print their Advisor Statement
Note: Only Administrator and Manager roles can see this tile.
Viewing Saved Reconciliations
Search existing reconciliations by navigating to the Reconciliations folder, and selecting Advisor Pay Reconciliation. Search by a reconciliation date range. Results are sorted in ascending or descending order by any column by clicking the arrow button to the right of the column title.
Edit an existing reconciliation by clicking the Reapply button in the Actions column. Learn more about how to reapply an Advisor Pay Reconciliation.
Clicking on a line item opens the reconciliation details. Email, Export, or Print the reconciliation by clicking the appropriate button. Clicking the Void Reconciliation button at the bottom of the screen.
Adding a New Reconciliation
To add a new reconciliation, click the + Add Reconciliation button.
Add a Date or Reconciliation (defaulted to the current date) and Description. The Date of Reconciliation allows users to back date up to the date entered in the Latest Advisor Payable Date filter (mentioned below) or the Accounting Lock Date. If the Description field is left blank, the system will auto populate data from the filters used once the reconciliation is saved.
Use the filters for Latest Advisor Payable Date, Reservation Advisor, Reservation Advisor Tag, and Trip Branch to narrow down your results. The Latest Advisor Payable Date filter will default to the last day of the previous month.
Note: The Reservation Advisor filter is given priority. If both filters for Reservation Advisor and Reservation Advisor Tags are used in a search, Reservation Advisor Tag is ignored.
Column Notes:
- Fare - Total Fare of the Reservation.
- Advisor Commission % - the percentage entered in the Advisors tab of the Reservation.
- Advisor Commission Amount - the Commission Amount entered or calculated in the Advisors tab of the Reservation.
- Default Commission % - the Default Commission % entered in the Advisor's profile. This is travel category specific.
- Default Commission Amount - Commission Amount of the Reservation multiplied by the Default Commission %.
- Variance - Advisor Commission Amount minus the Default Commission Amount.
Click the checkbox next to each reservation you wish to include on the reconciliation, or check the select all checkbox to add all results to the reconciliation. Only reservations with closed balances (Client and Supplier balances at $0) will be included in the search results.
Click Save All.
Click here for directions on creating an Other payment to show the advisor was paid.
Click here for directions on accessing, emailing and/or printing the Advisor Statement/Summary.
Void a Reconciliation
Search for and open the reconciliation you wish to void.
Move down to find the Void Reconciliation button.
A confirmation box will come up, click 'Yes, Void'.
Note: The voided reconciliation will is removed from the system.