Payout Brokerage to Brokers

Purpose

Following the completion of the Calculate and Post Unit Fund Brokerage process, the direct credit batch to pay the Brokers needs to be created, and the Communications dispatched to the Brokers.

Process

There are four steps to the Payout Brokerage Process

Reconcile Dealer Payout Report

Dealer | Print Dealer Payout Report

1. Print the Dealer Payout Report to check the amounts due to each Broker
   
2. If the reported payout amounts are correct continue with Step 2
   

Otherwise:

1. Manage any transactions that you wish to partially pay or that have been paid previously
   
1. Refer to Manage Transactions and Marking Transactions as Paid
   
2. Refer Dealer Account details to selectively exclude a Dealer from this process
   

If any transactions need to be managed or excluded from payout, undertake the above processes and then reprint the Dealer Payout Report

1. Repeat until the Dealer Payout Report represents the amounts to be paid to each Dealer
   
2. Proceed to Step 2
   

Run the Dealer Payout Process

Dealer | Payout Dealer Balances

Field	Explanation
Bank	Select the Fund Managers Bank account
Direct Credit Communication Type	[F2] and enter the Diary Note Communication Type Brokerage advices are created by the Calculate and Post Brokerage process, so the Communication Type selected here is only because the field is mandatory
Cheque Communication Type ​	[F2] and enter the Diary Note Communication Type Brokerage advices are created by the Calculate and Post Brokerage process, so the Communication Type selected here is only because the field is mandatory
First Cheque Number	Enter the First Cheque Number available from the cheque book The cheques will need to be manually written Each cheque must correspond to the amount created by the Cashbook withdrawal transaction for the same cheque number Cheques should be attached to remittance advised and mailed to each Dealer

 to run the process

Create the Direct Credit file

Cashbook | Edit/View Statement Transactions

1. Search to locate the Direct Credit batch created       
   
2. Highlight the batch and click  to create the file for upload to your banking software 
   
3. Upload the created Direct Credit file to your banking software and confirm that this imports correctly
   
4. Run the Cashbook | Post to Other Systems process
   

Dispatch Communications

Communications | Edit/View Communications

1. The created Communications should be dispatched from the Communication Browse dialog to advise each Head Office or Broker the detail of the direct credit processed to their bank account
   

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