Unit Fund Brokerage

Unit Fund Brokerage

Setup

Brokerage can be calculated automatically by the system based on a Brokerage Rate. The brokerage calculated can be posted to either a head off client or to an individual broker.

Each broker must first be set up as a dealer

The dealer account is then selected to the Unit Fund account, and the brokerage percentage nominated:

Head Office

There is a concept in the system of a Head Office. This is to satisfy the requirement where there maybe a number of brokers who need to be paid, but a single payment needs to go to a Head Office from where each of the Brokers will then be paid internally.

The Head Office is selected to the Dealer (Broker) account:



Note:

The first step is to set up a new client to represent the Head Office. A bank account must be set up for the Head Office client, so that all brokerages calculated will be paid to that bank account rather than the individual broker bank accounts.

A separate head office client must be established for every head office that is to have brokerage paid to it.

    • Related Articles

    • 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 ...

    • Unit Fund Brokerage Report

      Purpose To allow the reporting of brokerage amounts to be paid to brokers calculated between user defined date ranges Timing This report may be run at any time, but is usually run at a month or quarter end. As the report is date range dependant, it ...

    • Unit Fund Account Details

      Purpose The types of investment that are recorded through this module are: Unit Funds where income is earned on a regular basis Unit Funds where income is distributed to the account on a pre-determined basis The Unit Fund module allows the ...

    • Unit Fund Account Type Setup

      Purpose To allow for different types of Unit Fund Accounts to be created, such as Unit Fund and Loan Repayments Each Account Type can be assigned a different Unit Value if required Access Accounts | Edit/View Account Types | | Unit Fund Account Type ...

    • Revalue Unit Fund Accounts

      Purpose The value of units of a fund may vary over time. This will result in a loss (decrease in unit value) or gain (increase in unit value) on the investment by the account holder. This process automatically updates the Unit Fund Account and ...