Payout Distributor Balances

Purpose

To automatically pay to Distributors the amounts that are due to them by Direct Credit or cheque

Distributor accounts can be selectively excluded from this process

This process is usually run towards the end of the day

There are two steps to the Distributor payout process

Print the Distributor Payout Report to check the amounts due to each Distributor
Manage any transactions that you wish to partially pay or that have been paid previously
Refer to Manage Transactions and Marking Transactions as Paid
Refer Distributor Account details to selectively exclude a Distributor from this process
If the reported balances are correct continue with Step 2
If any transactions need to be managed or excluded from payout, undertake the above processes and then reprint the Distributor Payout Report
Repeat until the Distributor Payout Report represents the amounts to be paid to each Distributor
Proceed to Step 2

Distributor balances can be paid by Direct Credit or cheque
The menu option Payout Distributor Balances will facilitate this
This process will automatically create a Direct Credit output file to be imported to your banking software

The below dialog is presented when paying out Distributor balances

Field	Explanation
Bank	Select the Bank account that the Direct Credit batch will be created against
System	Defaults to Distributor and may not be edited
Distributor	Leave blank to pay out all Distributors. [F2] to present Distributor Account Browse. Multiple Distributors may be selected to a maximum of 200
From \| To Date	Restricts the batch to transactions entered for the payment date range specified
Direct Credit Communication Type	Select the Communication Type that represents the Distributor remittance advice that is to be created for payment by Direct Credit This Communication will detail each asset being paid out and the total being paid to the Distributor by Direct Credit
Cheque Communication Type	Select the Communication Type that represents the Distributor remittance advice that is to be created for payment by Cheque This Communication will detail each loan being paid out and the total being paid to the Distributor by Cheque
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 advice and mailed to each Distributor

For this process to be run the following setups must exist:

Field	Explanation
Distributor Client Bank Details	For the client to be paid by direct credit their bank details must exist in the button of the Client Details screen for the Distributor If the bank details are not included, and the client is included in the Payout Distributor Balances Process, then the Distributor will be automatically paid by cheque
Direct Credit Transaction Type	This is entered in the Distributor Account Type screen If the Transaction Type does not exist, the process will complete, but no cashbook transactions will be created

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