Follow the below-mentioned steps to see the Payout Report: -
1. Select ‘Payout Report’, under ‘Reports’ header in the left Navigation hierarchy.
2. A new page ‘Payout Report’ will open with the Radio buttons for Adviser Group, Licensee referrer and State manager, along with the current month calendar with the confirmed payouts (if any in this month) and with all the dates.
*Confirmed payout date will appear with green color.
3. Click on the date which is appearing with green color. By clicking on it, confirmed payouts i.e. ‘Adviser group 1’ will appear.
4. Click on the ‘Adviser Group 1’ name and select the respective product provider. You can check the “Total Amount Manually Paid/Kept”, “Advance Paid” and “Reserve Kept” under ‘Total Payments’ and calculation will appear accordingly.
Opening Balance: If there was any closing balance that would have been created in the last payout even after all the adjustments (either positive or negative) this will be displayed here and calculated with the Adviser Group Payable.
Gross Total Received: It is the amount received by the licensee from the Provider.
Adviser Group Payable: It is the Actual payout that is made to the adviser group after charging the licensee retained amount.
Fixed Fee: It shows the fixed fee that is applied to that adviser group in that payout period.
Proportion Fee: It shows the proportion fee that is applied to that adviser group in that payout period.
Amount received by Bank: If in case there has been an amount which was directly received by the licensee in its bank account but no calculation for the same has been done in our PayLogic application, Licensee needs to create “Amount received by the bank” which will be adjusted with the total payable amount of that payout period.
Total Amount Manually Paid/Kept: If there has been any Advance or Reserve entry manually created by the licensee, the sum of all the advance and reserve will be displayed here. It is the amount shown as Current Balance on Advance/Reserve screen of Adviser Group.
Total Payable Amount: Applying all the fees and adjustments this is the final amount that is to be paid to the adviser group.
Advance Paid: It is the extra amount that the Licensee gave to the Adviser Group after all the calculations over and above the total payable amount.
Reserve Kept: It is the amount that the Licensee retained from the Adviser Group after all the calculations over the total payable amount.
Final Payable Amount: After Keeping Reserve or Paying Advance, this is the final amount that is paid to the adviser group.
Closing Balance: If there is any amount that is left after all the adjustments then it goes to the closing balance of that payout.