Addition of Advance/Reserve for an Adviser Group manually:

1. Go to Business Setup > Adviser Groups > Select Adviser Group in which you want to add Advance/ Reserve >Select Advance/Reserve from the grid present at the top

2. To add an Advance or Reserve, we need to select the field ‘Pay Advance’ and enter the amount in the field ‘Add Advance’ to Pay an advance, or Select field ‘Keep Reserve’ and enter the amount in the field ‘Add Reserve’ to Keep a reserve.

3. 'Current Balance’ field shows the sum of all the advances and reserves since the last payout. The value gets auto-updated based on an entry made for the Add Advance/Add Reserve field.

4. During the payable amount computation, the amount available in ‘Current Balance’ is adjusted automatically to derive the final payable amount.

5. Once Payout is confirmed, ‘Current Balance’ is set to zero.

6. Field ‘Closing Balance’ captures the amount which is left after all the adjustments were made during the last payout.

Payable Amount Calculation: Payout Data> Process Payout 

  1. ‘Total amount manually paid/kept since last Payout’ will appear. We make sure that all the Advance/Reserves that were added are considered during the payout. Finally, the total payable amount is calculated.
  2. Once the previous Advance/Reserve is settled, we can now give extra amount (Pay Advance) or retain some amount (Keep Reserve) by selecting “Pay Advance” or “Keep Reserve” and then entering the desired amount.
  3. All the adjustments are done here and is the part of closing balance.
  4. Opening balance and Closing balance are shown on the payable amount calculation screen.

Payout and Payout Report: Reports >Payout Reports

  1. “Total Amount Manually Paid/Kept”, “Advance Paid” and “Reserve Kept” are the new header which is shown.
  2. Details around ‘Opening balance’ is the first row of the report.

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 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 which is left after all the adjustments have been made, goes to the closing balance of that payout.


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